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Journal Article

Financial Transaction Taxes in Theory and Practice

Leonard E. Burman, William G. Gale, Sarah Gault, Bryan Kim, James R. Nunns, Steven M. Rosenthal
February 26, 2016
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Abstract

We explore issues related to a financial transaction tax (FTT) in the United States. We trace the history and current practice of the tax in the United States and other countries, review evidence of its impact on financial markets, and explore the key design issues any such tax must address. We present new revenue and distributional effects of a hypothetical relatively broad-based FTT in the United States, finding that, at a base rate of 0.34 percent, it could raise a maximum of about 0.4 percent of GDP ($75 billion in 2017) in a highly progressive manner. Originally published in National Tax Journal, March 2016, 69 (1), 171–216. Reprinted with permission.

Research Area

Business Taxes Corporate income tax
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Meet the Experts

  • Leonard E. Burman
    Institute Fellow
  • William G. Gale
    Codirector
  • Sarah Gault
    Research Associate II
  • Bryan Kim
  • James R. Nunns
    Urban Institute Associate
  • Steven M. Rosenthal
    Senior Fellow
Research report

New Evidence on The Effect of The TCJA On the Housing Market

Robert McClelland, Livia Mucciolo, Safia Sayed
March 30, 2022
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