France’s experiment with the Tobin Tax has proved a spectacular flop. Its finance ministry admits that the scattershot levy on financial transactions has raised just a third of the money expected since August. Total takings will be a paltry €800 million ($1.04 billion) in 2013, but that overlooks the much greater damage inflicted on French finance, industry and the government’s own tax base. “France is shooting itself in the foot,” said Paul-Henri de La Porte du Theil, head of French finance industry AFG. … The House of Lords EU Committee says the Tobin Tax will have “far-reaching adverse consequences” for...