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Robin Hood Tax Gains Traction

US and UK still the holdouts.
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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 …

Read the entire article: http://www.reuters.com/article/2012/01/10/us-france-tax-idUSTRE8091BC201...

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29 comments on the article “Robin Hood Tax Gains Traction”

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Anonymous

This is the kind of stuff I was afraid of... putting a band aid on a big problem.

Give this movement a win in the form of a Robin Hood Tax... and they will go away, and our society can continue down the wrong path.

Not until we start living with the values of the cultures that lived for millions of years on this earth will we have a chance. Not steps backwards to living in tents, but moving forward with the right value system in place.

A Robin Hood Tax is not a solution, its a gimmick to get you to shut up.

Anonymous

That's not necessarily true. The Robin Hood Tax is at the very least a step in the right direction. Those with wealth, power and influence have already decided what their values are. They are not going to change them just because we wish it to be that way. Would you rather there be a Robin Hood Tax or there not be one? Sure, I wish that we could fix all of our problems with one solution but it's just not that easy. We have to be pragmatic and patient. The revolution will come when she is ready. Now is the time for "reformist bullshit"

PaoloL

I don't understand your comment, are you suggesting nothing should be done and we just wait for revolution? This tax is a step in the right direction and hopefully with enough such steps things could be corrected. There just needs to be a collective will and an awareness and i sense that the neccessary awareness is growing. Some other backward steps might also be helpful such as reinstating the Glass Steagall Act, the fact that something may seem a backward step certainly doesnt mean its a false one.

Anonymous

Uh, people say things like this about everything. "The Constitution isn't a solution, it's a gimmick to get you to shut up", "Computers aren't a solution, it's a gimmick to get you to shut up", "Mom made me this peanut butter and jelly sandwich to get me to shut up, it isn't a solution, I am still going to be hungry". My advice is that if you're still hungry after eating the Tobin Tax, go get more fucking food. Don't call it a gimmick unless you want it to be one.

Bryan Kavanagh

If you visit http://www.thedepression.org.au you'll see that the 1% capture most of our land and resource rents comprising some 50% of the economy, whilst we, the 99%, are obliged to pay taxes on our comings and goings. When we capture publicly-generated land and resource rents to the public purse and abolish taxes, then, and only then, can the 99% free themselves from this treadmill devised by the 1%. Every great philosopher throughout history has pointed this fact out, but somehow it becomes invisible to us. Tobin Tax? Bah!

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