Tax
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'Socially useless' and nuisance-taxed, but still government-guaranteed -- By: Nicole Gelinas...would " 'throw some sand in the well-greased wheels' of speculation. And a transactions tax could generate substantial revenue," Krugman notes, combining Tobin and Ferrer. "What's not to like? " A financial-transactions tax doesn't solve... In this article: Tax, Paul Krugman, James Tobin, Washington, Revenue, Freddy Ferrer, Wall Street, Capitalism, and Financial Services Authority |
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True/Slant | 2 days ago
It's Time to Tax the Speculators
...that would tax financial transactions as a way to discourage "socially useless" activities. "Such a tax would be a trivial expense for people engaged in foreign trade or long-term investment," writes Krugman, "but it would be a major...
In this article: Jim Cramer, Paul Krugman, Wall Street, Revenue, Small business, Eagles, Bear Stearns, Lehman Brothers, and AIG
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Marginal Revolution | 2 days ago
Should we apply a transactions tax to REPO?
...to the standard Tobin "currency tax." No matter what you think of the Tobin tax, overall there is not sufficient logic or empirics to justify its extension to REPO and related short-term transactions. Addendum: I am more in agreement with...
In this article: Paul Krugman, Revenue, Yale, Dubai, and United States
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ThinkProgress | 5 days ago
Pelosi: 'If We Pull Our Punch' On Job Creation, 'We Shouldn't Be Surprised If History Repeats Itself'
...heeded the advice of his own era's deficit worriers. He sharply reduced government spending, among other things cutting the Works Progress Administration in half, and also raised taxes. The result was a severe recession, and a steep fall in...
In this article: Revenue, Recession, International Monetary Fund, Goldman Sachs, Dominique Strauss-Kahn, and Paul Krugman
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Seeking Alpha | 2 days ago
Krugman: Tax the Traders into Oblivion
...thing for the global economy. His idea of a "Tobin tax" that would be applied to all financial transactions strikes me as a misguided "hammer in search of a nail" type of solution to the global financial crisis. It is also inconsistent with...
In this article: Paul Krugman, Black Swan, Financial crisis, Dubai, and New York Times
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Democrats Considering Direct Jobs Program - Will Deficit Fearmongering Prevent It?
...the deficit. " "Hamstrung by the nation's $1.4 trillion deficit and his pledge not to raise taxes on middle-class Americans, Mr. Obama is keen to avoid any measures suggestive of a second, big-ticket stimulus," the Journal said. As Paul...
In this article: Comprehensive Employment and Training Act, Unemployment, Huffington Post, Alan Blinder, Federal Reserve, and John Boehner
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Description from Wikipedia:
To tax (from the Latin taxare: to estimate, which in turn is from tangere: to touch) is to impose a financial charge or other levy upon a taxpayer (an individual or legal entity) by a state or the functional equivalent of a state.
Taxes are also imposed by many subnational entities. Taxes consist of direct tax or indirect tax, and may be paid in money or as its labour equivalent (often but not always unpaid). A tax may be defined as a "pecuniary burden laid upon individuals or property to support the government […] a payment exacted by legislative authority." A tax "is not a voluntary payment or donation, but an enforced contribution, exacted pursuant to legislative authority" and is "any contribution imposed by government […] whether under the name of toll, tribute, tallage, gabel, impost, duty, custom, excise, subsidy, aid, supply, or other name."
In modern taxation systems, taxes are levied in money, but in-kind and corvée taxation are characteristic of traditional or pre-capitalist states and their functional equivalents. The method of taxation and the government expenditure of taxes raised is often highly debated in politics and economics. Tax collection is performed by a government agency such as Canada Revenue Agency, the Internal Revenue Service (IRS) in the United States, or Her Majesty's Revenue and Customs (HMRC) in the UK. When taxes are not fully paid, civil penalties (such as fines or forfeiture) or criminal penalties (such as incarceration) may be imposed on the non-paying entity or individual.
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