Wednesday, June 12, 2013

Espresso yourself!

I'm expressing with my full capabilities. This illustration is featured in the current issue of Institutional Investor. The article discusses a recently imposed financial transaction tax in Italy.

I'm glad I was able to come up with something other than an Italian flag for this illustration. An espresso cup slowly leaking a Euro stream worked out great.

 There are the usual opponents saying that the tax will cause volatility, less investment, and the end of the world- as all taxes do- and those that say that the tax is necessary to discourage high-frequency trading, reduce risk and create revenue. According to the article, so far it's too early to tell what exactly the effects are. My two cents (as if you care): I've read some great stuff from Dean Baker and Mark Weisbrot at the Center for Economic and Policy Research on the subject of financial transaction (speculation) taxes. Here's a recent article by Weisbrot on the Harkin/DeFazio "Wall Street Trading and Speculation Tax Act of 2013."

Thank you so much, Diana!

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