taxes impose a treat

Global bank tax urged by IMF
Countries should consider imposing a two-pronged tax on banks and other financial firms to pay for bailouts the next time markets tank, the world's financial body is proposing.In a report to the G20 countries(these are The Group of Twenty Finance Ministers and Central Bank Governors known as the G-20 and also the G20 or Group of Twenty) that was obtained by the BBC, the International Monetary Fund recommends a globally co-ordinated flat fee on every big bank, coupled with a tax on profits.The money would be managed by governments and used to pay for economic rescue measures if the world ever again faces the kind of financial crisis that devastated economies over the last year and a half.The G20 finance ministers will discuss in the meeeting scheduled on june at toronto.Various ideas have emerged for how to make financial firms pay their own way for being bailed out, including a fee on every exchange of currency, and a financial transactions tax on every purchase and sale of stocks, futures and options.Revenue from this tiny tax would come from one of the most profitable and undertaxed sectors of our economy: the banks and stockbrokers, who — let's be frank — can certainly afford it."We pay our taxes so all Canadians can have quality public services.This is just a new method of grabing money from the citizens who get an average pay.