ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Tobin Tax Revisited

A Global Tax for Global Purposes?

With growing evidence that foreign aid is effective when combined with good domestic economic policies, the global political environment may become less hostile to using global taxation as a way of bringing about global income redistribution aimed at poverty reduction. To use the revenue from a currency transaction tax to augment multilateral aid flows would, in these circumstances, have the appeal of assisting countries that are largely bypassed by private international capital markets. Thus, a policy directed towards offsetting the inefficiencies of markets could also be used to mitigate inequity, i e, a global tax for global purposes.

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