![]() ![]() Neither is currently an officer, director, or board member of any organization with a financial or political interest in this article. The authors did not receive financial support from any firm or person for this article or from any firm or person with a financial or political interest in this article. Department of the Treasury would consult with other regulatory agencies to monitor the effects of the FTT. Prior to each annual adjustment, the U.S. government bonds and new equity issuances) would be exempted for efficiency reasons. The tax would start at 2 basis points and be phased in over four years until it reached its target level of 10 basis points. ![]() But finding the 32 trillion she’ll need for the first 10 years alone is neither easy nor obvious. The tax would apply to a broad range of assets-including stocks, bonds, and derivatives-in order to raise as much revenue as possible while also preventing potential distortionary effects. OctoWhere Can Warren Get 32 Trillion To Pay For Her Government Health Plan Democratic presidential hopeful Elizabeth Warren says she’ll disclose her plan to pay for universal, public health care within the next few weeks. To raise revenue, Antonio Weiss and Laura Kawano propose a new tax: a financial transaction tax (FTT). The existing array of taxes have limited revenue potential, can be inefficient, and place an excessive burden on low earners. It is therefore important to examine new potential sources of tax revenues and consider the roles they could play in our overall tax system. With high and rising public debt, an aging population that will place increasing demands on federal spending, and a need for new investments in public goods like infrastructure and R&D, the federal government requires more funding to sustain economic growth and opportunity.
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