Oct. 29 #RobinHood Global March
robinhoodtax.org
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ADBUSTERS TACTICAL BRIEFING #15
Alright you redeemers, rebels and radicals out there,
We're living through a magical moment … #OCCUPYWALLSTREET has catalyzed into an international insurgency for democracy … the mood at our assemblies is electric … people who go there are drawn into a Gandhian spirit of camaraderie and hope for a new kind of future. Across the globe the 99% are marching! You have inspired more than you know. People are digging into Act One of the long Spring.
Its now time to amp up the edgy theatrics … deviant pranks, subversive performances and playful détournements of all kinds. Open your insurrectionary imagination. Anything, from a bottom-up transformation of the global economy to changing the way we eat, the way we get around, the way we live, love and communicate … be the spark that sustains a global revolution of everyday life!
As the movement matures, lets consider a response to our critics. Lets occupy the core of our global system. Lets dethrone the greed that defines this new century. Lets work to define our first great demand.
OCTOBER 29 – #ROBINHOOD GLOBAL MARCH
This is a proposal for the general assemblies of the Occupy movement.
Eight years ago, on February 15, 2003, upwards of 15 million people in sixty countries marched together to stop President Bush from invading Iraq … a huge chunk of humanity lived for one day without dead time and glimpsed the power of a united people's movement. Now we have an opportunity to repeat that performance on an even larger scale.
On October 29, on the eve of the G20 Leaders Summit in France, let's the people of the world rise up and demand that our G20 leaders immediately impose a 1% #ROBINHOOD tax on all financial transactions and currency trades. Let's send them a clear message: We want you to slow down some of that $1.3-trillion easy money that's sloshing around the global casino each day – enough cash to fund every social program and environmental initiative in the world.
Take this idea to your local general assembly and join your comrades in the streets on October 29.
for the wild,
Culture Jammers HQ
occupywallstreet.org / 29october.net / occupytogether.org / Facebook / Twitter
PS. Check what's being said about the Occupy movement
- Democracy Now!: Hundreds of Thousands March Against Inequity, Big Banks
- Chris Hedges: A Movement Too Big to Fail
- Elliot Spitzer: "Occupy Wall Street Has Already Won"
- Matt Taibbi: Hit Bankers Where it Hurts
- Rose Ann DeMoro: Nurses to Obama: Push for a Global Financial Transaction Tax, Now!
940 comments on the article “Oct. 29 #RobinHood Global March”
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Micah White
#ROBINHOOD Financial transaction taxes are targeted at casino banking operations they can easily be designed in a way that protects the investments of ordinary people and businesses. Just like other taxes, specific exemptions and punitive measures can be built in to protect, for example, lending to businesses or exchanging holiday money.
The IMF has studied who will end up paying transaction taxes, and has concluded that they would in all likelihood be ‘highly progressive’. This means they would fall on the richest institutions and individuals in society, in a similar way to capital gains tax. This is in complete contrast to VAT, which falls disproportionately on the poorest people.
The financial sector is highly competitive, which also makes it less likely that institutions will pass on the costs to customers because they will lose business to others who don’t.
http://robinhoodtax.org/how-it-works/everything-you-need-to-know
Micah White
#ROBINHOOD Financial transaction taxes are targeted at casino banking operations they can easily be designed in a way that protects the investments of ordinary people and businesses. Just like other taxes, specific exemptions and punitive measures can be built in to protect, for example, lending to businesses or exchanging holiday money.
The IMF has studied who will end up paying transaction taxes, and has concluded that they would in all likelihood be ‘highly progressive’. This means they would fall on the richest institutions and individuals in society, in a similar way to capital gains tax. This is in complete contrast to VAT, which falls disproportionately on the poorest people.
The financial sector is highly competitive, which also makes it less likely that institutions will pass on the costs to customers because they will lose business to others who don’t.
http://robinhoodtax.org/how-it-works/everything-you-need-to-know
Anonymous
Riiiiiight.
When the Income Tax was introduced in 1913 the politicians said it would only be levied against millionaires (the top 1/2% at that time). And that was true for awhile but by 1950 the tax had been extended to everybody. We can fully expect the Robin Tax to also "creep" downward as time passes.
All you are doing is giving Congress more money that they will use for the NEXT banker bailout circa 2030. Or misappropriate to themselves for boondoggles PLUS giving more power to the Fed (private central bank) who will be charged to hold and store the money. Bad move.
.
>>>"less likely that institutions will pass on the costs to customers"
They really don't have a choice. They either pass the new Tax cost downward, or they lose money and go bankrupt. For example when Congress passed the new law that lowered Debit card swiping fees from 99 to 49 cents, it caused banks to lose money (each swipe costs them ~70 cents). So they passed those government-induced losses to the customers. Basic econ 101.
Anonymous
Riiiiiight.
When the Income Tax was introduced in 1913 the politicians said it would only be levied against millionaires (the top 1/2% at that time). And that was true for awhile but by 1950 the tax had been extended to everybody. We can fully expect the Robin Tax to also "creep" downward as time passes.
All you are doing is giving Congress more money that they will use for the NEXT banker bailout circa 2030. Or misappropriate to themselves for boondoggles PLUS giving more power to the Fed (private central bank) who will be charged to hold and store the money. Bad move.
.
>>>"less likely that institutions will pass on the costs to customers"
They really don't have a choice. They either pass the new Tax cost downward, or they lose money and go bankrupt. For example when Congress passed the new law that lowered Debit card swiping fees from 99 to 49 cents, it caused banks to lose money (each swipe costs them ~70 cents). So they passed those government-induced losses to the customers. Basic econ 101.
Anonymous
My grandmother buys and sells shares. She just wants to make a 5% return on her savings, but if she bought and sold three times in a year she would be down 1%?? Because of the central bank low rates she isn't able to earn money any other way.
I don't consider my grandmother to be rich at all.
Most of OWS crowd are quite young, but we have to be careful not to attack the elderly because they are no longer able to work and rely on savings and investments. If the money just goes into some world government fund to insure against future banking losses the Robin Hood movement will have just given the globalization trend more legs. How do we know the money will actually go into good uses such as helping the world's poorest. It will probably just go into bureucrats pockets and keep the status quo.
A Robin Hood Tax will do nothing but harm if you think it through seriously.
Can someone please explain why the financiers George Soros and Warren Buffett support the tax?
Anonymous
My grandmother buys and sells shares. She just wants to make a 5% return on her savings, but if she bought and sold three times in a year she would be down 1%?? Because of the central bank low rates she isn't able to earn money any other way.
I don't consider my grandmother to be rich at all.
Most of OWS crowd are quite young, but we have to be careful not to attack the elderly because they are no longer able to work and rely on savings and investments. If the money just goes into some world government fund to insure against future banking losses the Robin Hood movement will have just given the globalization trend more legs. How do we know the money will actually go into good uses such as helping the world's poorest. It will probably just go into bureucrats pockets and keep the status quo.
A Robin Hood Tax will do nothing but harm if you think it through seriously.
Can someone please explain why the financiers George Soros and Warren Buffett support the tax?
Anonymous
This tax is misleading and any movement towards bringing this forth is against what the majority of OWS stands for and is designed specifically for the bankers, by the bankers. This tax was speculated about a year ago. There would be a 1% transaction fee on every money transaction to include depositing your paycheck, writing a check or using your debit card, even on transfers from savings to checking, and even on withdrawals.
Anonymous
This tax is misleading and any movement towards bringing this forth is against what the majority of OWS stands for and is designed specifically for the bankers, by the bankers. This tax was speculated about a year ago. There would be a 1% transaction fee on every money transaction to include depositing your paycheck, writing a check or using your debit card, even on transfers from savings to checking, and even on withdrawals.
Anonymous
It is amazing to me that the website who takes credit for getting the OWS movement started would even propose such a thing as this tax, and anyone who blindly follows and demands to have this tax implemented that is part of the OWS movement, this will backfire immensely, a media storm will created and OWS will take the biggest hit they have yet to see. This would be a major set back. If enough people actually follow the lead on this robinhood tax, it could end this movement as we know it.
Anonymous
It is amazing to me that the website who takes credit for getting the OWS movement started would even propose such a thing as this tax, and anyone who blindly follows and demands to have this tax implemented that is part of the OWS movement, this will backfire immensely, a media storm will created and OWS will take the biggest hit they have yet to see. This would be a major set back. If enough people actually follow the lead on this robinhood tax, it could end this movement as we know it.
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