As a follow up to the previous post, Joseph Stiglitz has an article in -again- The Guardian about the rethinking of sources of growth at a global level, to mitigate the impact of high oil and food prices in poorer areas.
He writes on the realignment of taxation for financial markets :“Why should those who make their income by gambling in Wall Street’s casinos be taxed at a lower rate than those who earn their money in other ways? Capital gains should be taxed at least at as high a rate as ordinary income. (Such returns will, in any case, get a substantial benefit because the tax is not imposed until the gain is realized.) In addition, there should be a windfall profits tax on oil and gas companies.” Obvious.
Read the article here.
