In 1989, at the Buenos Aires meetings of the International Institute of Public Finance, University of Wisconsin–Madison Professor of Economics Edgar L. Feige proposed extending the tax reform ideas of John Maynard Keynes,[1] James Tobin[2] and Lawrence Summers,[3] to their logical conclusion, namely to tax all transactions.
It was reintroduced in 2016 in the book "How to get Rid of Socialism and Cure the Fiscal Ills of the United States of America."
The book also claims the utility of the WTX system of taxation system effectively extends to the control of the shadow economy and cyber currencies and that the WTX can generate enough revenue to electronically fund all economic security obligations of the federal government ( I.e.Social Security and Medicare).
In 2011, during the presidential election, there was renewed discussion about a possible re-introduction of the CPMF under the name "Social contribution for health" (CSS).
Furthermore, the significant revenue-raising capacity of bank transactions taxation revived the centuries-old ideal of the Single Tax.
[13] In 1998 Ecuador introduced the "Impuesto a la circulacion de capitales" or tax on money circulation, at a rate of 1% of deposits made into Financial Institutions.