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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 Suddeutsche Zeitung newspaper.

The Financial Times says, "One person close to Mr Steinbruck 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.
It's a crazy idea that has little support worldwide. No way.
The WTO, G-20 and others need to support this. Yes, I agree

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KEVIN STODA-has been blessed to have either traveled in or worked in nearly 100 countries on five continents over the past two and a half decades.--He sees himself as a peace educator and have been-- a promoter of good economic and social development--making-him an enemy of my homelands humongous DEFENSE SPENDING and its focus on using weapons to try and solve global (more...)

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