, Columnist
Let Me Tell You How It Will Be ’Cause I’m the Taxman
Talk of higher marginal personal tax rates and a Tobin tax on financial transactions is decidedly negative for markets.
George Harrison and The Beatles didn’t like taxes very much.
Photographer: Fox Photos/Hulton ArchiveThis article is for subscribers only.
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Prepare to be worried about something new. For decades, the overarching macro drivers of markets centered on monetary policy with related concerns about financial stability. Recently, trade policy and risks to globalization have come on the radar, along with what are seen as a set of binary risks concerning “populism.” More specifically, what are the chances that existing governments are toppled?