July 8, 2011
Debating Taboos: Securities Transaction Tax – Bring it Back or Leave it Out?
Carnegie Institution for Science
1530 P St NW
Washington D.C., 20005
A financial transaction tax is a small tax placed on a specific type (or types) of financial transactions. The way it is often discussed is a small tax on each trade of stocks, derivatives, currency, and other financial instruments. "Debating Taboos" is a series of substantive debates organized by Ralph Nader that aims to bring attention to civic issues so controversial or taboo they have rarely, if ever, been addressed in the media, legislative bodies or the electoral arena. CEPR Co-Director Dean Baker co-moderated a debate on the need for a securities transaction tax. Also moderating the debate was Gus Sauter, chief investment officer of Vanguard Group. Robert Pollin, professor at UMass (Amherst), argued for the tax, and Jim Angel, professor at Georgetown University, argued against it. The debate was televised on C-SPAN. You can watch the video here.