Tobin tax
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A Tobin tax was originally defined as a tax on all spot conversions of one currency into another. It was suggested by James Tobin, an economist who won the Nobel Memorial Prize in Economic Sciences. Tobin's tax was originally intended to penalize short-term financial round-trip excursions into another currency. By the late 1990s, the term Tobin tax was being incorrectly used to apply to all forms of short term transaction taxation, whether across currencies or not. Another term for these broader tax schemes is Robin Hood tax, due to tax revenues from the (presumably richer) speculator funding general revenue (of whom the primary beneficiaries are less wealthy). More exact terms, however, apply to different scopes of tax.
See also
- Bank tax
- Currency transaction tax
- Financial transaction tax
- Foreign exchange market
- Robin Hood tax
- Spahn tax
