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Steal From the Rich!!!

February 11, 2010

… And give to the poor?

The wonderful Bill Nighy makes the case for a small tax on all international daily financial transactions as a way to  raise revenue for action on climate change and helping the millions of people who struggle with poverty every day.  

Now I’m not going to go too much into the tobin tax debate. Personally I think its a fantastic idea  full stop. And the Big Joe Stiggy, Economics Noble Prize Winner, seems to agree with me.

What I do want to point to is that this video is a clever piece of advocacy on an issue that has been presented as too complicated to implement. It is after all, about a global tax. However, as the clip makes clear, those against the idea want to present the issue as “awfully complex”. Deploying this tactic is way of throwing people off the idea. Through suggesting that the idea is too complicated to implement, people start to doubt their overwhelming gut feeling that it would be the right thing to do. If its such an obviously good idea, then it’d be implemented, so it must be too complicated.

But its not complex.  

Its quite simple really.

Isn’t it?  

To follow your gut feeling go here.

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One Comment leave one →
  1. February 12, 2010 6:05 pm

    The original Tobin tax was ONLY on currency trade transactions; Tobin has loudly protested until his death against the misuse of his concept. The new global AND general tax rests on the assumption that speculation is harmful but the exact opposite is the case, see Speculation is Harmful?. But it won’t work even if implemented ALMOST globally – there will be at least ONE jurisidiction, and be it Macau, already well known for gambling, which would establish a free trade zone for speculative trading and the once great financial centres like London or New York would then be backyards. Then at least they could rest assured there was no “undue”speculation, but equally they would not have the further wherewithals to cope with the next crises looming: adjustable rate mortgages and sovereign defaults

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