Word: payes
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There's little disagreement that by picking up the banks' half-a-trillion-dollar repair bill, taxpayers got a rotten deal in the financial meltdown. How to make sure they're not forced to pay a second time is unclear. A levy on financial-market transactions, stretched beyond foreign-currency trades to cover stocks, derivatives and other clever instruments, might offer twin benefits. By slapping an additional fee on each transaction, the tax "would naturally drive [investors] toward those that are more sensible, more profitable, more rational," suggests Julian Jessop, chief international economist at the consultancy Capital Economics in London...
...oversize banks that got us into the current pickle. That job falls to regulators. Moreover, evidence of the impact of transaction charges on the volatility of assets is mixed: buyers in Britain's housing market - which, like many others around the world, cratered in 2007 - have been required to pay a transaction tax on their purchases for years. (Read "How to Know When the Economy Is Turning...
...funds. And in that respect, there may be simpler methods. Because of the lukewarm response from other countries to Brown's suggestion, the British government was quick to reduce the levy to one of several ideas the Prime Minister had for recouping taxpayers' billions. Another idea - that banks themselves pay into a central rescue fund, with contributions determined by a lender's size or risk exposure - could yet prove more popular...
...downtown Mexico City is a long way from the Rio Grande. There are few American clients spending dollars in Buenavista. Mostly the johns are working and middle-class Mexicans who stop here after work and pay as little as $10 for a service. In these conditions, it could be hard to convince many of the sex workers themselves that it would benefit them to relocate to a special zone. "I have been here for 10 years. I had to work hard to get my place, and now I have my regular clients," says Monica, 35, eyeing passing...
...women also have a deep-seated distrust of the government. Prostitutes complain that they are routinely shaken down by police, who demand $50 payoffs and threaten to lock them up overnight if they don't pay. Several prostitutes were suspicious that the new circuit was part of a government plan to tax them. And none of the prostitutes interviewed said they had to pay hustlers on the streets. "I don't work for pimps. I don't work for madams. And I am not going to work for the government," says Jennifer, a heavily made-up 24-year-old pacing...