Daily Archives: March 11, 2019

Douglas Cliggott, a lecturer in economics, writes a column where he discusses why he thinks a tax on financial transactions would not only raise a lot of revenue, but it might also improve markets by reducing wasteful trading.

Douglas Cliggott, a lecturer in economics, writes a column where he discusses why he thinks a tax on financial transactions would not only raise a lot of revenue, but it might also improve markets by reducing wasteful trading. He says a $1 tax on each $1,000 traded and a 0.1 percent tax on actual payments made on derivatives contracts, would raise about $775 billion over 10 years. That’s an amount that could do a lot of social good, he says. (Bloomberg, 3/8/19)