{"id":196882,"date":"2008-03-17T23:02:00","date_gmt":"2008-03-18T04:02:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2008\/03\/17\/dean-baker-has-a-great-idea-but-it-needs-to-go-further\/"},"modified":"2008-03-17T23:02:00","modified_gmt":"2008-03-18T04:02:00","slug":"dean-baker-has-a-great-idea-but-it-needs-to-go-further","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2008\/03\/17\/dean-baker-has-a-great-idea-but-it-needs-to-go-further\/","title":{"rendered":"Dean Baker Has a Great Idea, But it Needs to go Further"},"content":{"rendered":"<p>Dean Baker suggests that we implement <a href=\"http:\/\/tpmcafe.talkingpointsmemo.com\/2008\/03\/15\/a_stock_transfer_tax_the_right\/\">a stock transfer tax<\/a>.  He mentions that the UK has a stock transfer tax of 0.25%, and London is second only to New Work as one of the great financial capitols of the world.<\/p>\n<p>He notes that it would generate $150 billion\/year in revenue.<\/p>\n<p>While I agree, I do not think that this goes far enough.  It should apply to all financial transactions, stocks, bonds, derivatives, hedging, futures, etc.<\/p>\n<p>I would have an exception for initial purchase, but not resale, of government bonds, but that&#8217;s it.<\/p>\n<p>In addition to generating a lot of revenue, it also makes increasing level of arbitrage increasingly more expensive, which is <span style=\"font-weight: bold;\">also<\/span> a good thing.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Dean Baker suggests that we implement a stock transfer tax. He mentions that the UK has a stock transfer tax of 0.25%, and London is second only to New Work as one of the great financial capitols of the world. He notes that it would generate $150 billion\/year in revenue. While I agree, I do &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1038,973,1004,985,983],"tags":[],"class_list":["post-196882","post","type-post","status-publish","format-standard","hentry","category-budget","category-economy","category-finance","category-regulation","category-taxes"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/196882"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=196882"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/196882\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=196882"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=196882"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=196882"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}