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Friday, 25 October 2013 15:41

The Robin Hood Tax

Written by  Robin Hood Tax Campaign

Simply put, the big idea behind the Robin Hood Tax is to generate hundreds of billions of dollars.  That money could provide funding for jobs to kickstart the economy and get America back on its feet. It could help save the social safety net here and around the world.  And it will come from fairer taxation of the financial sector.

This small tax of less than ½ of 1% (.50 on a $100 transaction) on Wall Street transactions can generate hundreds of billions of dollars each year in the US alone.

Enough to protect American schools, housing, local governments and hospitals. Enough to pay for lifesaving AIDS medicines. Enough to support people and communities around the world – and deal with the climate challenges we're facing.

It won't affect ordinary Americans, their personal savings, or every day consumer activity, such as ATMs or debit cards. It's easy to enforce and tough to evade.

This is a tax on Wall Street, which created the greatest economic crisis in our nation, and globally, since the Great Depression. The same people who have returned to record profits and bonuses while ordinary Americans, the 99%, continue to pay the price of their crisis.

So it's time for justice for ordinary families and businesses. For American families faced with a choice between buying food or paying the heating bill.

The Robin Hood Tax is just. The banks can afford it. The systems are in place to collect it. It won't affect ordinary members of the public, their bank accounts or their savings. It's fair, it's timely, and it's possible.

It's not a tax on the people, but a tax for the people.

Visit the Robin Hood Tax Campaign

Read 3274 times Last modified on Friday, 25 October 2013 16:14

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    How will you honor the legacy of Martin Luther King Jr. this April 4, the anniversary of his assassination? How about by demanding that Congress get out of Wall Street’s pocket? How about by letting your representative know that you support economic equality and a just distribution of wealth in America? As Dr. King himself said, “This is America’s opportunity to help bridge the gulf between the haves and the have-nots. The question is whether America will do it. There is nothing new about poverty. What is new is that we now have the techniques and the resources to get rid of poverty. The real question is whether we have the will.”

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  • The Robin Hood Tax
    The Robin Hood Tax

    Simply put, the big idea behind the Robin Hood Tax is to generate hundreds of billions of dollars.  That money could provide funding for jobs to kickstart the economy and get America back on its feet. It could help save the social safety net here and around the world.  And it will come from fairer taxation of the financial sector.

    Written on Friday, 25 October 2013 15:41 Read more...
  • European Commission Approves “Robin Hood” Tax on Financial Transactions
    European Commission Approves “Robin Hood” Tax on Financial Transactions The European Commission yesterday backed plans by 11 European Union economies to impose a “Robin Hood” financial transaction tax, better known as a Tobin tax, to help raise funds to tackle the region’s growing debt crisis.
    Written on Wednesday, 24 October 2012 16:53 Read more...

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