Robin Hood Tax

[Number23]

Hi folks. This isn't really BOG specific but this (and AAIG) are just about the only places I'm willing to show my "face" in around this joint.

FYI. This originated in the UK but could potentially spread to the States.

The Robin Hood Tax

The Robin Hood Tax is a tiny tax on banks, hedge funds and other finance institutions that would raise billions to tackle poverty and climate change, at home and abroad.

It can start as low as 0.005 per cent – and average 0.05 per cent . But when levied on the billions of pounds sloshing round the global finance system every day through transactions such as foreign exchange, derivatives trading and share deals, it can raise hundreds of billions of pounds every year.

...Gordon Brown, Angela Merkel (the German Chancellor) and Nicolas Sarkozy (the French President) have all spoken out in support of a tax on financial transactions.

Plenty of business bigwigs are on-board too. Lord Turner (from the Financial Services Authority), George Soros (the philanthropist) and Warren Buffet (US businessman extraordinaire) have all backed transaction taxes. And then there are the hundreds of economists who have backed the idea, too.

http://robinhoodtax.org.uk/how-it-works/

I am really intrigued by this. Anyone have any thoughts, I'd love to hear them.

[treestar]

1. It seems like it should gain support

From anyone rational. I can picture the U.S. rabid right wing being against it. They are that stupid.

[POAS]

2. BUT BUT his will curtail the markets

What will the traders ever do, millions will go bankrupt, corporation will be forced to move jobs and operations off shore into low wage countries and tax havens.

Whoa is US, whoa is US!!!

[Number23]

4. Any corporation that thinks a .05% tax will kill the markets is basically announcing to the world

that they have absolutely no idea how to survive in the global marketplace or that they think the population of the world is full of idiots. And any dumbass who listens to and believes them should be branded with a scarlet "C" for cretin. I have no doubt that Repub politicians would be RACING to earnestly make the very arguments you just made in jest.

I think this is a fantastic idea. Would love to see it become implemented, particularly in Western/industrialized countries.

[Cha]

3. More than a few people who should know

how much this would help are for it!

When I first heard of Sarkozy in the French election..I read that he was more right wing and read something similiar of Angela Merkel.

Course the US gop have some who would apologize to BP for President Obama's actions in securing $20 Billion and counting for our Gulf of Mexico being in the way of their Oil Gusher that never ends.