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September 24, 2008


Dave Iverson

Here is Robert Kuttner, Sept. 30 talking up a Tobin Tax:

"Government will need to rely on substantial public spending to pull the wider economy out of the hole. Most of that can be raised by surtaxes on the wealthy and by transaction taxes on speculation, but it will also require a temporary increase in public deficits. Raise enough revenue to cover about $700 billion of financial recapitalization in year one, and in years two through eight they use the proceeds for public works, infrastructure, good jobs, universal health coverage, expanded pre-kindergarten and child care."

From "Learning from 1929", The American Prospect, Robert Kuttner, Sept, 30, 2008

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