Stephen Harper nixes the Tobin Tax

The Tobin Tax, the infinitely realizable miniscule tax first put forward by Nobel Laureate James Tobin in 1972 has been stalemated by the ugly economic triad—Canada, USA and Britain.

The idea was simple. Each finacial transaction,easily monotored, would be taxed at a miniscule rate…maybe .5% .This would create billions of revenue to aid infrastructure, poverty programs around the world.It also would act as a brake, albeit a small one, on speculators who hive off small yet manifold amounts in short term foreign exchange actions.

As Thomas Friedman has written, the “electronic herd” of computer financial transactions often plays havoc with national economies. In and out with the flick of a mouse yet this has drastic consequences in smaller economies.

These banksters woud never miss the picayune amounts of these exchanges but given the millions of daily transactions , this sure would add up.We are talking billions.

Good old Stephen Harper. Forget the sycophant Cameron in England, the one who famously sucked up on ar egular basis to Rupert Murdoch.

Well,the USA…no big surprise


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