Should the United States support a global tax?

D

dimpy.handa

Dimpy Handa
The Tobin Tax would be a way to ensure that there is a stable, yearly contribution to a global relief fund, most likely administered by the United Nations. It would overcome the current problem of countries making high-profile aid promises (e.g about relief aid after the Asian Tsunami, or of development aid to Afghanistan), and then failing to deliver on these pledges when the issue fades from the headlines. It would also help take politics out of the current fundraising process, where funds and donations have for the most part come with political strings attached either to the UN, recipients or other donors.
 
Global taxes can address serious global problems while at the same time raising revenue for development. A tax on carbon emissions could help slow global climate change, while a tax on currency trading could dampen dangerous instability in the foreign exchange markets. The revenue from these taxes could support major programs to reduce poverty and hunger, ensure primary schooling for all children, and reverse the spread of HIV/AIDS, malaria and other major diseases. Unreliable donations from rich countries will not fill this need, estimated by the UN to cost tens of billions per year. A global system of revenue-raising must be put in place to fund genuinely international initiatives.
 
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