By Derek Paul and Shirley Farlinger
A new book in the Dundurn series of Science for Peace was released in February. It’s full title is “Good Taxes: the Case for Taxing Foreign Currency Exchange and Other Financial Transactions”. It is written by Alex Michalos, political scientist at the University of Northern British Columbia. Many of you will remember Alex’s previous book published by Science for Peace: “Militarism and the Quality of Life”. He is also author of a dozen or more other books, as well as many articles.
“Good Taxes” discusses more thoroughly than I have seen elsewhere the merits of a tiny percentage tax on foreign currency exchange, and on financial transactions such as stock and bond purchases. Many people are unaware that a tax of 0.005% on foreign currency exchange would generate over $300 billion (US) per annum, if applied worldwide on all such transactions. The proceeds of such a tax could, if distributed to the nations collecting it, eliminate the need for the GST in Canada, and bring other equivalent benefits elsewhere. Benefits to the UN and contributions to reducing poverty are also possibilities arising from such a modest tax.
The retail price of “Good Taxes” is $9.00 per copy. However, there is a 40% discount to Science for Peace members. If you are interested in this book, please make cheques payable to “Science for Peace Publications”, for mail out orders please include $2 for the first book, and 50 cents for each additional book ordered.