Podcast: Hong Kong raises its stock transfer tax as Wall St escapes (for now…)

In this Taxcast Extra Naomi Fowler speaks to Jim Henry, economist, lawyer, investigative journalist and Tax Justice Network senior adviser about the campaign to persuade New York State (which is broke) to reinstate its (tiny) Stock Transfer Tax. It would have created an important precedent for the world but for now, Wall Street has escaped. At the same time, in Hong Kong they have raised their Stock Transfer Tax in an example of “tax competition in reverse,“ or a “race to the top.”

The transcript of this podcast is available here (some is automated and may not be 100% accurate) 

Further reading/listening:

• Edition #107 of the Taxcast explores how transformative financial transactions taxes could be https://taxjustice.net/2020/12/17/taxing-wall-street-the-tax-justice-network-december-2020-podcast/ 
• Submission to New York State Assembly: the case for financial transactions taxes https://taxjustice.net/2021/02/19/submission-to-new-york-state-assembly-the-case-for-financial-transactions-taxes/ 
• A Wall Street tax that could lift many out of poverty already exists — it’s just not being collected https://www.salon.com/2020/11/01/a-wall-street-tax-that-could-lift-many-out-of-poverty-already-exists–its-just-not-being-collected/ 
• Keval Bharadia‘s “Recalibrating financial transaction tax policy narratives”: https://taxjustice.net/wp-content/uploads/2020/11/Recalibrating-financial-transaction-tax-policy-narratives-Keval-Bharadia.pdf
• More Taxcasts are available on https://www.thetaxcast.com and we’re on most podcast apps. Or you can subscribe by emailing naomi [at] taxjustice.net 

Image: “Wall Street” by Michael Aston is licensed under CC BY-NC 2.0