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  • There is nothing forbidding it.

    Yes, the Tobin Tax is legal, because there is no authority that governs whether currency exchange taxes can be illegal. Tobin Taxes are authorized by governments, and the governments most definitely have the authority to regulate international transactions, especially as they concern finances. Tobin Taxes, while onerous, are not illegal.

  • A Tobin tax

    I personally agree,If you are talking about Tobin taxes in the United States, then yes, they are very legal. Reason being? Taxes are legal in general. Many taxes have been fought in the Supreme Court and have lost, because they're constitutional and the constitution is the law of the land. That's all there is to it.

  • Yes, they are.

    If you are talking about Tobin taxes in the United States, then yes, they are very legal. Reason being? Taxes are legal in general. Many taxes have been fought in the Supreme Court and have lost, because they're constitutional and the constitution is the law of the land. That's all there is to it.

  • Profits are profits. Profits get taxed.

    Tobin Taxes are no less legal than income taxes. If a person works at McDonald's and makes an income, that income is taxed. If a person trades some currency, and makes an income, that income should also be taxed. This is also applicable to the gains tax. It creates an income, and that income should be taxed.

  • Yes imposing a 'Tobin Tax' would be legal.

    The tax suggested by economist James Tobin, known as the "Tobin Tax", is a tax on spot conversions a country's currency. The tax would be legal in that Congress is given the specific right to regulate international trade and to impose tariffs and taxes on international transactions. The idea being to tax profits made on the 'carry trade', exploiting the short-term differences in currency values.

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