Wednesday, November 02, 2011

Financial Transactions Tax

Tom Harkin and Peter DeFazio are introducing a Financial Transactions Tax (or a Tobin Tax). They should be commended for doing so and Republicans should engage them (though they are unlikely to do so). We will need greater revenues but in the short term the revenues could be used as an offset to the employer portion of the payroll tax providing a greater incentive to firms to expand hiring.