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Tobin Tax by USA
February 18 , 2025
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- Trump’s administration is considering imposing a Tobin Tax on capital flows, a move that could disrupt global financial markets.
- Applying Tobin's idea of a 0.0005% tax on currency transactions in a global market could raise the huge amounts of revenue and likely wouldn't reduce the transactions or flows.
- The Tobin Tax is a tax on foreign exchange transactions aimed at discouraging short-term speculative trading.
- It was proposed in 1972 by James Tobin, a Nobel Prize-winning economist, in response to currency market fluctuations after the collapse of the Bretton Woods system.
- India’s Securities Transaction Tax - 2004, acts as a Tobin-like tax on the stock market transactions.
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