Bill Gates Advocates Tax On Financial Transactions

First time accepted submitter wanzeo writes "With the current G-20 summit dominated by global financial uncertainty, previously unsuccessful tax strategies are getting new attention. In a short interview with the BBC, Bill Gates explains his support for a potential tax on financial transactions. The concept is sometimes called the Tobin tax after its originator, Nobel Laureate economist James Tobin, who first put forth the idea in 1972. Gates points to the success of Britain's Security Settlement Tax, and suggests that large economies like Germany, France, and the U.S. have expressed interest in his plan."

Comments

And now lets word it to screw the little guy.

[jellomizer]

Lets make exceptions on stock trades, and values over a particular amount. So we end up adding an extra tax when the average Joe uses his credit card or pays a check.