July 2016, Dean Baker

There has been considerable interest in financial transactions taxes (FTTs) in the United States and other wealthy countries in the years since the financial crisis. An FTT can be a way to both raise a large amount of revenue and also rein in the financial sector. This report examines the evidence on the potential for raising revenue through an FTT, its impact on the economy, and also the possibility of using the revenue to defray in particular the cost of higher education.

This report was published by The Century Foundation's Bernard L. Schwartz Rediscovering Government Initiative.

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Graphics:

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Related Publications:

Dean Baker’s Comments on the Reintroduction of Representative Peter DeFazio’s Financial Transactions Tax Bill, Dean Baker | July 13, 2016

Facts and Myths About the Financial Transaction Tax (Updated February 2016)

Support for the FTT (updated February 2016)