Freely circulating and unregulated capital destabilizes democracy. This is why regulatory mechanisms are necessary. One such mechanism is the Tobin tax, named after the American economics Nobel prize winner. James Tobin proposed, in 1978, to tax, at a low rate, all the transactions on the currency markets in order to discourage speculation and, at the same time, provide the international community with resources. With a rate of 0.05% the Tobin tax is estimated to bring in more than 100 billion dollars per year, which could be utilized for currency stabilization, economic development, emergency relief, or other national and international crises.
Throughout the world, numerous civil society and non-governmental organizations, linked with trade unions, social, ecumenical, and environmental causes are acting in solidarity to request that their governments support multilateral cooperation in the enactment of Tobin-style taxes.
Join their ranks and demonstrate your support by signing our Citizen's Declaration on the Tobin-Type Tax!