Torin tax
(Tobin
TAX) refers to a global unified transaction tax on spot foreign exchange transactions, which aims to reduce pure speculative transactions.LTG in this article
Goldrock introduces the functions and characteristics of the Tobin tax ~
The Tobin tax is characterized by a single tax rate and global.
The function of the Tobin tax is:
Inhibit speculation and stable exchange rates.The implementation of the Tobin tax can enable a country to implement a more flexible interest rate policy based on domestic economic conditions and goals without worrying that it will be impacted by short -term capital flow.Moreover, the Tobin tax is set for the round -trip flow of short -term funds. It will not only hinder the trade and long -term investment caused by basic differences in productivity, which will help guide the flow of funds to the productive real economy.
Those who support Tobin's claim pointed out that the daily transaction volume of the world's financial market is as high as 1.5 trillion US dollars, of which the transaction volume related to goods and services accounts for less than 5%, and the height of the exchange rate fluctuations and interest rate differences seeks to huge profits.95%.This speculative behavior caused confusion to national budget, economic planning and resource allocation.The "Tobin Tax" helps reduce the vulnerability of the exchange rate, weaken the influence of the financial market on national policies, and help maintain the government's power in determining budget and monetary policy.Moreover, if the annual taxation base is $ 75 trillion and the tax rate is 0.2%, then the annual tax is as high as 150 billion US dollars. It will receive good results to use it for social development.
Opponents believe that this tax is hindered to invest in investment, so "economic incorrect" can only allocate resources with "invisible hands"; secondly, Tobin's idea is good, but it does not work because the funds flow because the funds flow are flowing because the funds are flowing because the funds flow are flowing because the funds flow are flowing because the funds flow are flowing because the funds are flowing because the funds flow are flowing because the funds flow are flowing because the funds flow is flowing because the funds are flowing.The speed is "almost at the speed of light", and only all countries in the world can accept it, and this is difficult to achieve, because in the expected future, the United States will not accept it.
In fact, the "Tobin Tax" is only a form of administrative intervention in the financial market. It can be done in accordance with it, or it can be found in another proper countermeasure.According to reports, a report issued by the UN Trade Conference proposed that when the currency of emerging market countries was attacked and foreign exchange reserves dropped to a certain limit, they could unilaterally announce the delay in debt repayment.If this proposal is passed, it will undoubtedly enhance the ability of the country to fight against the financial market.
