Global Tax System--Needed or Not

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Global Tax System--Needed or Not

     Germany's finance minister, Peer Steinbrueck, "has called for a global tax to be imposed on financial transactions in a bid to end" that which his administration is calling "binge-drinking" in the financial markets.

"The cost of the crisis should not be borne alone by small taxpayers," Steinbrueck has stated in the Süddeutsche Zeitung newspaper.

The Financial Times says, "One person close to Mr Steinbrück said under the proposal, a 0.005 per cent tax would be paid on all financial transactions by banks, insurance companies and investment funds."

Chancellor Merkel doesn't think it will go anywhere in the next G-20 Summit, but other worldwide observers expect that within the next decade there will be a global tax like this too keep banks from taking their gains abroad and not paying taxes anywhere on them.

What do you think?  Is a global tax needed for financial institutions?

It may be needed but I don't see it being instituted in my lifetime.
       29% from 5 votes  
It's a crazy idea that has little support worldwide. No way.
       29% from 5 votes  
The WTO, G-20 and others need to support this. Yes, I agree
       41% from 7 votes  
       0% from 0 votes

    17 votes    Vote               View Demographics Cross-Tab Results

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This will only work if everyone adopts it.BTW, who... by Scott Baker on Wednesday, Sep 16, 2009 at 2:39:09 PM
I don't know about in America, but over the last d... by Kevin Anthony Stoda on Wednesday, Sep 16, 2009 at 2:56:57 PM
Americans have this myoptic view of our country. T... by A. Scott Piraino on Wednesday, Sep 16, 2009 at 3:05:17 PM
With computers and observation networks in place w... by Kevin Anthony Stoda on Thursday, Sep 17, 2009 at 2:56:57 AM
Welcome to the world dictatorship. No longer do yo... by Darren Wolfe on Sunday, Sep 20, 2009 at 6:57:18 AM
Thanks for being to the point... by Kevin Anthony Stoda on Sunday, Sep 20, 2009 at 10:41:48 PM
just have the IMF take everyones income and then d... by sommers on Tuesday, Oct 13, 2009 at 7:51:10 AM
THEY ALREADY DO THAT: BESIDES that doesnt send an... by Kevin Anthony Stoda on Tuesday, Oct 13, 2009 at 1:46:59 PM
I dont think even the Soviet Union would have come... by Kevin Anthony Stoda on Tuesday, Oct 13, 2009 at 1:48:57 PM Ta... by Kevin Anthony Stoda on Tuesday, Oct 13, 2009 at 1:52:52 PM
MARGINALLY EMPLOYED IN THE USA September 2009, an... by Kevin Anthony Stoda on Tuesday, Oct 13, 2009 at 1:54:24 PM
Among the marginally attached, there were 706,000 ... by Kevin Anthony Stoda on Tuesday, Oct 13, 2009 at 1:55:31 PM

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