Une taxe de 0,1 % sur les transactions financières rapporterait, en dix ans, entre 540 G$ US et 3 538 G$ US au gouvernement des États-Unis.
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Since the financial crisis and the ensuing 2008‑2009 Great Recession, the idea of imposing a tax on financial transactions has appeared somewhat frequently in policy debates. At its most basic level, a financial transaction tax (FTT) is a tax imposed on the buyer or seller of a security at the time a financial transaction occurs. An FTT can be applied across the board to all financial transactions, or only those involving specific types of securities (for example, stocks, options, and futures, but not bonds). Similarly, an FTT can be applied to the transactions of all traders, or selectively to only certain types, such as those made by institutional traders but not individual investors.
While an FTT can come in many different forms, three justifications are commonly offered for imposing such a tax:
(1) it would reduce financial market volatility by reducing speculation,
(2) it would generate a significant amount of revenue, and
(3) it would help pay for recent and future federal assistance to the institutions that are viewed by some as the source of the financial instability (a.k.a., “Wall Street”).
This report briefly discusses the concept of an FTT in a historical and international context, summarizes recent FTT proposals, examines the tax’s effect on financial market volatility and speculation, and analyzes the revenue potential.