In a breakout session at the 4% Growth Project conference, Robert Litan was firm that there is "absolutely no evidence" that a...
In a breakout session at the 4% Growth Project conference, Robert Litan was firm that there is “absolutely no evidence” that a transaction tax will decrease financial market volatility. In fact, it might increase it, by driving out arbitrageurs and decreasing liquidity. And there also is no evidence that a transaction tax will generate the kind of revenue that proponents claim it will. Capital, which can be transferred overseas with a push of button, will simply flee to more hospitable tax environments.
