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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Anonymous
Fighting? Not hardly. The Robin Hood Tax is being supported *by* the big bankers. Why? The same reason the insurance companies supported passage of Obama/Pelosi care. Because they benefited from it.
They gained more power (elimination of smaller companies) and more money (everyone has to buy insurance). That's what the Robin Tax will do as well... benefit the bankers and globalists. That's why they support the idea and are pushing it through various groups like Tides.
Anonymous
Fighting? Not hardly. The Robin Hood Tax is being supported *by* the big bankers. Why? The same reason the insurance companies supported passage of Obama/Pelosi care. Because they benefited from it.
They gained more power (elimination of smaller companies) and more money (everyone has to buy insurance). That's what the Robin Tax will do as well... benefit the bankers and globalists. That's why they support the idea and are pushing it through various groups like Tides.
Anonymous
Some bankers support a Robin Hood Tax, as perverse as it may sound. Banks need money to recapitalize and insure against future losses as required by new regulations. Warren Buffett is a major shareholder in Goldman Sachs and he supports the tax. Financier George Soros is also a major supporter.
There will obviosuly be various competing interest groups seeking any revenues generated - we would want some pigeonholed for regional development, foreign aid, fighting climate change, etc but also there is also the European debt crisis which I think is why Merkel and Sarkozy are interested. The banking sector want to be recapitalized and they see this is a least worst option because it would reduce the level of competition that banks face so a net positive. We have to fight our corner when the monies are redistributed and expect to be disappointed.
I think we would probably see a much smaller financial sector but more power concentrated in the major banks.
Anonymous
Some bankers support a Robin Hood Tax, as perverse as it may sound. Banks need money to recapitalize and insure against future losses as required by new regulations. Warren Buffett is a major shareholder in Goldman Sachs and he supports the tax. Financier George Soros is also a major supporter.
There will obviosuly be various competing interest groups seeking any revenues generated - we would want some pigeonholed for regional development, foreign aid, fighting climate change, etc but also there is also the European debt crisis which I think is why Merkel and Sarkozy are interested. The banking sector want to be recapitalized and they see this is a least worst option because it would reduce the level of competition that banks face so a net positive. We have to fight our corner when the monies are redistributed and expect to be disappointed.
I think we would probably see a much smaller financial sector but more power concentrated in the major banks.
Anonymous
Exchange traded derivatives such as futures do not pose any risk at all due to the daily marking to market of positions based on price fluctuations. If you tax transactions on exchanges you will simply dry up volaility and cause more volatile and generally higher commodity prices in wheat, corn, coffee etc.
Off-exchange or "Over-the-counter" derivatives however probably do pose a risk to everyone, I would agree with you there. There are trillions of OTC derivatives sitting on banks balance sheets and it is a time bomb waiting to explode. That is why I suspect any money raised from a transaction tax, irrespective of the harmful effect on pensioners life savings, would invariably end up in some governmental insurance fund to pay for future bank bailouts and "recapitalization".
Please learn the difference between exchange traded and OTC derivatives. If you proposed a Robin Hood Tax on only the "over-the-counter" derivatives you might go somewhere with this campaign.
If you adopt a machine gun approach you will just hurt a lot of ordinary folk that have worked hard for their savings and already paid income and capital gain taxes along the way.
Peace!
Anonymous
Exchange traded derivatives such as futures do not pose any risk at all due to the daily marking to market of positions based on price fluctuations. If you tax transactions on exchanges you will simply dry up volaility and cause more volatile and generally higher commodity prices in wheat, corn, coffee etc.
Off-exchange or "Over-the-counter" derivatives however probably do pose a risk to everyone, I would agree with you there. There are trillions of OTC derivatives sitting on banks balance sheets and it is a time bomb waiting to explode. That is why I suspect any money raised from a transaction tax, irrespective of the harmful effect on pensioners life savings, would invariably end up in some governmental insurance fund to pay for future bank bailouts and "recapitalization".
Please learn the difference between exchange traded and OTC derivatives. If you proposed a Robin Hood Tax on only the "over-the-counter" derivatives you might go somewhere with this campaign.
If you adopt a machine gun approach you will just hurt a lot of ordinary folk that have worked hard for their savings and already paid income and capital gain taxes along the way.
Peace!
Anonymous
NOOOOO! This 1% tax is a trick. This is the Political powers that be, taking a hold of the Occupy movements, and steering it down the very road that the protestors are truly trying to prevent. Adbuster is a Soros (and other billionaires) funded political group, as well as MoveOn.org. Think about it, this Robin Hood tax has the Carbon tax rolled up into it, which was the long term goal of "The global warming myth". I promise you that allowing this Robin Hood tax to be created will further the very problems we want to avoid. They even gave it a name that appeals to the masses, when it should the "Rob-ing the Goods" tax. The extra taxes this bill would create will far exceed the ones it reduces, and it is also heavily aimed to make business unaffordable for small to medium businesses, and gives tax breaks to big corporations. It is important to be critical when you heat about bills like this and see who is financial backing the bill. In this case it's the very billionaires that the Occupy movement is up agains, that should be your red flag right there.
Anonymous
NOOOOO! This 1% tax is a trick. This is the Political powers that be, taking a hold of the Occupy movements, and steering it down the very road that the protestors are truly trying to prevent. Adbuster is a Soros (and other billionaires) funded political group, as well as MoveOn.org. Think about it, this Robin Hood tax has the Carbon tax rolled up into it, which was the long term goal of "The global warming myth". I promise you that allowing this Robin Hood tax to be created will further the very problems we want to avoid. They even gave it a name that appeals to the masses, when it should the "Rob-ing the Goods" tax. The extra taxes this bill would create will far exceed the ones it reduces, and it is also heavily aimed to make business unaffordable for small to medium businesses, and gives tax breaks to big corporations. It is important to be critical when you heat about bills like this and see who is financial backing the bill. In this case it's the very billionaires that the Occupy movement is up agains, that should be your red flag right there.
Anonymous
A word on the Robin Hood Tax vs. Pension Funds....
The proposed financial transaction tax, lovingly referred to as a "Robin Hood Tax" seeks to levy a fee on financial transactions yes? Some of these posts critique said tax for its negative impact on pension funds.
This is a rather oversimplified kind of truth.
The efficacy of this tax is to target short-term speculative investments like futures markets, currency bets etc. Such investment practices are a pretty core feature of a wider historical resistance to global finance and one of (many) root causes of the 2008-? Global Financial Crisis.
I have been researching pension reforms/investment practices vis-a-vis financial crises for a couple years now and my simple response is this: Pensioners who engage in short-term speculative investments (which this transaction tax seeks to challenge) are 99%ers that are making investment choices in line with the investment discourse of the 1%. This helps threaten the very same global financial stability which they seek to decry through OWS.
In short, you are gambling with your own retirement and thus have (perhaps quite accidentally) actually become part of the problem.
Responsible pensioners do not take part in speculative games of financial roulette.
Anonymous
A word on the Robin Hood Tax vs. Pension Funds....
The proposed financial transaction tax, lovingly referred to as a "Robin Hood Tax" seeks to levy a fee on financial transactions yes? Some of these posts critique said tax for its negative impact on pension funds.
This is a rather oversimplified kind of truth.
The efficacy of this tax is to target short-term speculative investments like futures markets, currency bets etc. Such investment practices are a pretty core feature of a wider historical resistance to global finance and one of (many) root causes of the 2008-? Global Financial Crisis.
I have been researching pension reforms/investment practices vis-a-vis financial crises for a couple years now and my simple response is this: Pensioners who engage in short-term speculative investments (which this transaction tax seeks to challenge) are 99%ers that are making investment choices in line with the investment discourse of the 1%. This helps threaten the very same global financial stability which they seek to decry through OWS.
In short, you are gambling with your own retirement and thus have (perhaps quite accidentally) actually become part of the problem.
Responsible pensioners do not take part in speculative games of financial roulette.
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