Robin Hood Tax

[Number23]

Hi folks. This isn't really AAIG specific but this is just about the only place 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/

Brilliant. Bloody effing brilliant. Surprised that this has not been discussed 100 times here.

[Fire1]

1. Sounds fantastic and now is the time to do it! n/t