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Tobin tax

   Also found in: Financial, Wikipedia 0.01 sec.
Tobin tax [ˈtəʊbɪn]
n
(Economics) a proposed tax on foreign-exchange transactions intended to discourage destabilizing speculation while also raising large revenues that could be channelled to the developing world
[late C20: after James Tobin (1918-2002), US economist who proposed it]


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A YouGov survey for international aid group Oxfam found 53 percent support for the so-called Tobin tax put forward by Prime Minister Gordon Brown at a G20 meeting in Scotland earlier this month, with 28 percent opposed.
Critics argue that measures such as the so-called Tobin tax - a flat tax on currency transactions named after the Nobel Prize laureate James Tobin - would just dry up world financial flows.
Supporters of measures such as a so-called Tobin tax _ a flat tax on currency transactions named after the Nobel Prize laureate James Tobin _ say the money would protect countries from spillovers of financial crises.
 
 
 
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