Globalist Organizations Push for Income and Transaction Taxes
A Major player at CEPR and the FTT is Joseph Stiglitz. Read the following pdf
2002 Fannie Freddie Report 'Implications of the New Fannie Mae and Freddie Mac Risk-based Capital Standard' Page 6 Conclusion is UNBELIEVABLE
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Kofi Annan, former Secretary-General of the United Nations
'I support innovative financing solutions, such as a fair maritime bunker fuel tax, a levy on airline tickets, or the Financial Transaction Tax'
Pontifical Council for Justice and Peace
'Taxation measures on financial transactions... would be very useful in promoting global development and sustainability according to the principles of social justice and solidarity.'
Dean Baker, Co-Director of the Center for Economic and Policy Research
'We have a historic opportunity to correct one of the major distortions to the U.S. economy if we move now. There is no way to reverse the growth in inequality over the last three decades without attacking the elite Wall Street crowd. Those folks who back away from this task simply are not serious about addressing inequality. They have our money. It's that simple.'
Center for American Progress economists
'Specifically, we suggest that Congress... Tax the U.S. financial services industry to raise an additional $150 billion a year'
Paul Krugman, economist and Nobel Laureate
'And then there's the idea of taxing financial transactions, which have exploded in recent decades. The economic value of all this trading is dubious at best. In fact, there's considerable evidence suggesting that too much trading is going on... But wouldn't such a tax hurt economic growth? As I said, the evidence suggests not — if anything, it suggests that to the extent that taxing financial transactions reduces the volume of wheeling and dealing, that would be a good thing'.
Lawrence Mishel, President of the Economic Policy Institute
'It's not only poetic justice -- it's good economics and has great political appeal'
George Soros, Soros Fund Management and Open Society Institute
'The globalization of financial markets has given financial capital an unfair advantage over other sources of taxation. A tax on financial transactions would redress the balance.'
Joseph Stiglitz, economist and Nobel Laureate
'The financial sector polluted the global economy with toxic assets and now they ought to clean it out'
Lawrence Summers, former Director of the National Economic Council
'Some form of securities transactions tax would have the desirable economic effects of curbingspeculation and of raising a significant amount of revenue'.
Derivatives, Deregulation and Democrats
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