Financial Transaction Tax: Myth Busting
Hillman D and Ashford C, 2012
Stamp Out Poverty have created an extremely useful ‘FTT Myth-Busting’ paper which covers 12 common ‘myths’ concerning the impact of the FTT which continue to be peddled by our opponents. All of which can be shown to be false.
The myths covered include:
- How an FTT would actually increase economic growth and help generate new jobs.
- An FTT does not have to be implemented globally to work. There are numerous examples of existing FTTs which raise significant revenue and do not drive out economic activity.
- The cost of the tax would not be passed on to ordinary people. In fact it would be very progressive, meaning the costs would fall primarily on the richest individuals and institutions in society.
Please download the very informative Financial Transaction Tax: Myth Busting document as a pdf (123KB).