According to a recent US Joint Committee on Taxation estimate, a 0.1 per cent levy on US financial transactions could generate up to US$777 billion of additional revenue over the next decade. Wall Street could afford it. Photo: AFP
David Brown
Opinion

Opinion

Macroscope by David Brown

Wealthy financial markets must start to pay their way to help the poor, and a global ‘Robin Hood’ tax is the way to do so

  • When financial markets crashed in 2008, central banks were quick to slash interest rates and print money. The subsequent financial boom was basically subsidised by taxpayers – now it’s time for financial markets to return the favour

TOP PICKS

According to a recent US Joint Committee on Taxation estimate, a 0.1 per cent levy on US financial transactions could generate up to US$777 billion of additional revenue over the next decade. Wall Street could afford it. Photo: AFP
READ FULL ARTICLE