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G20 tasks IMF to probe "Tobin tax"

Discussion in 'Political Discussion' started by Real World, Oct 7, 2009.

  1. Real World

    Real World Moderator Staff Member

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    Nice.


    G20 tasks IMF to probe "Tobin tax": G20 source

    Fri Sep 25, 2009 2:55pm EDT

    PITTSBURGH (Reuters) - G20 leaders have tasked the International Monetary Fund to investigate ways the financial markets could pay for the effects of the economic crisis, such as a tax on all international financial transactions, a G20 source said on Friday.

    "A so-called 'Tobin tax' on all international financial transactions will not be mentioned specifically in the final communiques, but it was discussed. The IMF will now investigate and report back to the next G20 meeting," the source involved in the G20 summit in Pittsburgh said.
  2. alvinnf

    alvinnf Rookie

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    Whom would benefit from such a tax? Would it go into a pool or be done on a counrty by country basis.
  3. Real World

    Real World Moderator Staff Member

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    No clue who this writer is, but if this is accurate, Oh my!

    Progressives Back Obama Push for Global Tax

  4. alvinnf

    alvinnf Rookie

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    Once again, a big "shame on you" to those whom are trying to make money or are making money. NICE!
  5. maverick4

    maverick4 Banned

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    Now they want the entire world, to essentially subsidize for the elite who f*cked everything up in the first place.

    It's not just socialism for the rich in the US anymore, they are trying to get the whole world to pay for their mistakes.
  6. Real World

    Real World Moderator Staff Member

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    I'm confused by what you mean here mav. Who's trying to get the world to pay for who's mistakes? This tax would be set up by the IMF, or some other global body (think the UN), and the stolen money, ahem, the proceeds, would be redistributed around the world, or poorer nations, in order to level the playing field. At least that's how I read it.
  7. Holy Diver

    Holy Diver Rookie

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    "When asked, most Americans said they don't really know what the G-20 is about, but it probably has something to do with Gatorade." -Seth Meyers SNL
    Last edited: Oct 8, 2009
  8. Wildo7

    Wildo7 Totally Full of It

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    You guys realize that short term currency speculation isn't creating wealth right?
  9. alvinnf

    alvinnf Rookie

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    That's fine, but why would you want to tax it into some sort of global profit sharing pool?
  10. Wildo7

    Wildo7 Totally Full of It

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    Because it leads to greater instability. The tax is intended to be a disincentive to engage in the activity.
  11. alvinnf

    alvinnf Rookie

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    I don't see a tax as a deterrent.
  12. Wildo7

    Wildo7 Totally Full of It

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    [​IMG]
  13. alvinnf

    alvinnf Rookie

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    That is either over my head or my pay grade! Alright probably both.....

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