The big idea is a small tax (less than half of one percent) on all financial transactions involving assets and products that financial institutions speculate on. Millions of such transactions take place each day. These trades are essentially untaxed. They are also a major driver of economic instability. Enter the Robin Hood Tax – a tax on behavior that has destabilized financial markets, pushing a billion people into poverty.



Reining in profiteering, the bubbles and the busts, calming the contagious panic buying and selling of speculative assets, while providing a consistent source of funding towards the Millennium Development Goals.

Streamlining a bloated and grotesquely inefficient banking system, while investing in the human capital of the poor, at home and all over the world.

 

This is not a tax on people, it’s a tax on the financial sector. It’s easy to enforce and difficult to evade. Rather than relying on the disaster du jour to coax money from international donors, always a day late and a dollar short, the financial transactions tax would be reliable money, year in, year out. Programs that work could be scaled up and kept going. Developing countries could build something lasting. All over the world, the middle class could encompass people who are now desperately poor.

Win, win and win.

 
Campaign video by Richard Curtis and Bill Nighy for robinhoodtax.org.

Latest News on the Robin Hood Tax



See on Scoop.it – The Same Heart – Financial Transaction Tax IBTimes.co.uk EU commissioner insists ‘Robin Hood’ tax legal GlobalPost The European Commission on Tuesday sharply rejected suggestions that a controversial Financial Transactions Tax, championed as a way of making the banks pay for their past… See on www.globalpost.com

  The European Parliament continues to pursue a financial transactions tax, making it harder to evade and protecting pension funds. See on Scoop.it – The Same Heart – Financial Transaction Tax BBC News Financial Transaction Tax: MEPs push wide scope and attention to pension funds EU News The Economic and […]

See on Scoop.it – The Same Heart – Financial Transaction Tax Andrea Germanos, staff writer at Common Dreams   Why should ordinary taxpayers have to sacrifice while highly profitable corporations are using accounting acrobatics and tax havens to avoid paying their fair share? See on robinhoodtax.org

See on Scoop.it – The Same Heart – Financial Transaction Tax “Make believe voodoo magic ‘composite hedge,’” is what regulators examining massive bets by JPMorgan Chase are calling it, financial gambits that led to losses of $6 billion last year. See on robinhoodtax.org

See on Scoop.it – The Same Heart – Financial Transaction Tax The Guardian The time is right for a financial transaction tax The Guardian If ever there was a time to seek international consensus on a financial transaction tax it is now, as countries continue to deal with the aftermath […]

See on Scoop.it – The Same Heart – Financial Transaction Tax It’s time to tax financial transactions Washington Post Once championed by the granddaddy of liberal economics, John Maynard Keynes, the banner of a financial transactions tax has been picked up by conservative economists including Sheila Bair,… See on www.washingtonpost.com