It taxes liquidity, which many believe is overly abundant. It encourages fundamental analysis of a company s operations, and some advocates hope that a Tobin tax would push firms themselves to focus even more on long term value.

The Tobin tax was primarily a fiscal tool, and many countries had taken up the idea in order to monitor national financial transactions without causing serious distortions in financial activity.

The first conclusion of the report was that global environmental taxes and the Tobin tax on currency transactions could yield substantial revenues at a very low tax rate.

Contrary to the objective of the original Tobin Tax, our goal is not to interfere with market operations.

Overall, there is not much to be said against the tax (other than what is said against all taxes), and something to be said for it. But it does not help to solve major financial problems, and those that it does address (short term, overnight financing) could be dealt with more directly, with a more focused tax, better rules governing those transactions, and improved prudential regulation.

Tobin Trouble

Moreover, the sources of finance do not necessarily determine how the funds are allocated, let alone how they are ultimately used. For example, although the so called Tobin tax (a small levy on financial transactions) was originally intended to fund development assistance, a version of it was recently adopted in Europe in order to supplement national budget revenues.

prostitution and child (Philippines)

Tobin, supra note 23, at 190 93.

CAMBRIDGE European leaders are seriously considering a Tobin tax, which would put a small levy on financial transactions, thereby dampening trading. But will the tax do as much as its proponents hope?

As of now, Europe s Tobin tax proposals are not well targeted. Sound transactions would be taxed along with destabilizing, overnight financing of fragile financial institutions.

Moreover, a Tobin tax moves financial traders talented people with strong work habits into other activities, which (policymakers hope) will benefit the economy more. And, if financial innovations like derivatives and short term repurchase agreements have made markets more volatile and fragile, a Tobin tax could help to stabilize and strengthen them.

Getting into the big expenseaccount cars being escorted into VIP lounges.

The Commission elected, by acclamation, H.E. Mr. Cielito Habito (Philippines) as Chairman.

True, great thinkers like John Maynard Keynes and the late Nobel laureate James Tobin floated various ideas for taxing financial transactions as a way to reduce economic volatility. (Tobin s tax applied specifically to foreign exchange trading.)

A Tobin tax does, however, allow elected politicians to look like they are doing something useful which they are, but without addressing more serious economic problems.

He's taxing the richest men in the world for the right to live.

Commissioned persons shall abide by the various provisions on taxpayers in this chapter.

The revenues collected easily hundreds of billions of dollars annually could be spent on global public goods such as development assistance, vaccines for tropical diseases, and the greening of technologies in use in the developing world. The administrative difficulties in implementing a Tobin tax are not insurmountable, as long as all major advanced countries go along.

Set at a low enough level say, 0.25 such a tax would have little adverse effect on the global economy while raising considerable revenue. At worst, the efficiency costs would be minor at best, the tax would discourage excessive short term speculation.

Dr. Alberto G. Romulo, Secretary of Foreign Affairs, the Philippines, chaired the Conference.

The meeting was presided over by His Excellency Mr. Alberto Romulo, Secretary for Foreign Affairs of the Philippines.

President Jacques Chirac of France, but also Brazil s leftist president, Lula da Silva support a tax on airline tickets designed to finance poor countries development. Similarly, the centrist leader François Bayrou, has proposed imposing a Tobin tax (named after its creator, the Nobel laureate economist James Tobin) on financial transactions, with the proceeds to be used to support socially worthy causes.

The existing tax measures for childcare will be incorporated into the Childcare Act.

Families with childcare costs receive assistance through the Child Care Benefit in addition, the Government is introducing a new 30 per cent childcare tax rebate.

Mr. Bartoli I thank the Secretary of Foreign Affairs of the Republic of the Philippines, His Excellency Alberto Romulo, and through him the Government of the Philippines and its representatives here in New York, who organized this open debate during its presidency of the Security Council.

Previous positions include Senior adviser at Sycip Gorres Velayo and Company tax partner and head of Tax Division at Sycip Gorres Velayo and Company Professor of Taxation, University of the Philippines College of Law and Professor of Taxation, Ateneo de Manila College of Law.

In cases where a customs clearing company accepts the commission of a taxpayer and handles formalities related to the customs clearing and duty payment in its own name, it is held liable for duty payment together with the taxpayer.

We found we could begin to look at interventions over the centuries, from the Buddha to Tony Robbins.

Guest at 12 noon Mr. Christopher Burnham, Under Secretary General for Management

See Organization for Economic Cooperation and Development (OECD), Harmful Tax Competition An Emerging Global Issue (1998 OECD report) (Paris, 1998), introduction and chap. 1 and OECD, Improving Access to Bank Information for Tax Purposes (2000 OECD report) (Paris, 2000), paras.

The report looked at several possible sources of financing for development, apart from ODA, that could be employed in order to achieve the Millennium Development Goals. They included global environmental taxes, the Tobin tax on currency transactions, the creation of new special drawing rights (SDRs), an international finance facility proposed by the United Kingdom, increased private donations for development, increased remittances from emigrants, a global lottery, and global premium bonds.

Philippines . Philippines

Lubinski, Kubinski...

In many growing Asian markets, including the Republic of Korea, Taiwan Province of China, Thailand and the Philippines, high tariffs are used to protect domestic industries.

Still, in one area, a Tobin tax could provide an unmitigated benefit. Many of the largest, most precarious financial institutions now finance themselves via repo they buy a long term security (often government debt) and sell it, promising to buy it back the next day for a slightly higher price.

Fantomas has levied a tax on us for the right to live at an exorbitant rate.

In his analysis of the effects of the First World War on treaties, Tobin included a thorough review of this question.

Long live Robin Hood! Long live Robin Hood!

At your hotel. At the Excelsior.

I request the Chief of Protocol to escort His Excellency Mr. Gérard Latortue, Prime Minister of the Republic of Haiti, to a seat at the Council table.

It could surely not be said that the Molotov Ribbentrop pact had not terminated on the outbreak of war between Germany and the Soviet Union in 1941.

Judah BenHur. ...let me die.

This defines the imagined futures of our fellow Hungarians Robicsek, Teszler and Bartok as it does my own.

Yeah. Ben.