Robin Hood Tax Gains Traction

[xchrom]

http://www.adbusters.org/blogs/adbusters-blog/robin-hood-tax-gains-traction.html



As Occupy gears up for the American Spring, our European counterparts will soon have one OWS victory to put in their cap. In France this past week, lawmakers put their backing behind a bill for a Robin Hood (Tobin) Tax. The tax, a fraction of a percent on all derivative, currency and securities transactions, will equate to billions of dollars for social programs (at a nominal cost to the markets) and will reign in the worst elements of speculative trading in Europe.

This marks the long beginning of the necessary radical shift in the economic paradigm of our age. Germany and the Eurozone states are already on board, leaving only the U.K. and the U.S. defending unbridled neo-conservative free market gains.

For all of us this side of the Atlantic, the obvious question is: why not a Tobin Tax here?

When the G8 meets in Chicago this May, lets make sure that Occupy is there to greet them with a demand for Robin Hood.

(Reuters) – 'France wants to target bonds and derivatives, as well as stocks, with a new tax on financial transactions which the conservative government hopes to introduce before an April presidential election, Finance Minister Francois Baroin said on Tuesday.

President Nicolas Sarkozy’s government is keen to push ahead with a “Tobin tax” even without its European Union partners …'

[annabanana]

1. An eentsy teensy little transaction tax would solve it all. . (no sarcasm)

With all the lightning-speed electronic transactions that are completed in the blink of an eye... even the tiniest percentage would be massive.

[truedelphi]

2. While running for office, Obama himself touted a

Quarter of a penny tax on all Wall St transactions.

And like the OP mentions, such a tax would give huge benefits.

Unfortunately all his rich "good buddies," especially Geithner, convinced him that the rich would suffer immeasurably from such a tax.

With the American government firmly controlled by puppets of the Uber Puppet Masters on both sides of the aisle, nothing like this will ever happen here. Unless we all wake up in Fairy Land some day.

[Doctor_J]

6. He promised a lot of things while running

I wonder if he'll bother with a populist facade this time, or if his whole campaign will be, "not as far right as them"

[CJCRANE]

3. K&R.

[Beartracks]

4. Like a cig tax helps pay for the social costs of smoking....

... this can be a tax to help counter the socio-economic costs of derivatives.

==================

[diane in sf]

5. We need this here ASAP.

[sybylla]

7. My favorite ad about the Robin Hood Tax - featuring Bill Nighy

This aired in Great Britain when they were considering their Robin Hood Tax.

[xchrom]

8. ...

love it!