Tuesday, January 13, 2009
Securities Transaction Tax
Bob Herbert has a column pimping a securities transaction tax. I blogged the tax earlier, though, the revenue estimates I quoted were purely for revenues raised from stock transactions. Herbert, citing Dean Baker, estimates that a tax on all manners of securities transactions (bonds, commodities, futures, derivates, etc.) would raise in excess of $100 billion. One of the challenges for the foreseeable future will be to raise revenues and it is important to do so in an efficient manner as possible.