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Abstract: 

The authors trace the history of the financial transaction tax (FTT) in both the United States and various European countries. The previous imposition of an FTT failed because it was not adopted by a majority of the global markets at the same time, which allowed high-frequency traders to move their business to markets which did not levy an FTT. However, the current version of the FTT has extensive support within the European Union and the U.S. The authors argue, therefore, that the current incarnation of the FTT is a viable proposal for raising tax revenue by various governments.

Keywords: financial transaction tax (FTT), Robin Hood Tax, Tobin Tax, securities transaction tax

Affiliations:  1: University of Arkansas; 2: University of Arkansas.