robin hood tax
Aa Wall Street tax is achievable. It would have an enormous salutary effect on our economy and help lead the way to a program of such critical needs as education and health care for all, good paying jobs, and forceful action on the climate crisis -- just as Bernie Sanders proposes.
So can these talks deliver an agreement that moves us into a post-fossil fuel world? The simple answer is "no." For starters, the draft agreement they'll be using as the basis for discussion makes no reference to fossil fuels at all.
Amid the media accounts of the worst Ebola outbreak, some significant context is largely missing from the major media reporting. Atop this list are links of the outbreak to the climate crisis and global inequality and austerity-driven cuts in public services that have greatly contributed to the rapid spread of Ebola.
At a time when financial markets are dominated by computer-driven high frequency trading that has little benefit for the real economy, a tax of even a fraction of a percent could encourage longer-term sustainable investment.
Even more insidious, the governments of the world think that private investors, the same folks that created the economic mess, will be able to contribute to the $100 billion. They plan, essentially, to privatize and and create profit from people's suffering.
Occupy Wall Street marked its second anniversary in New York city on Tuesday, September 17, 2013 with protests near the United Nations headquarters calling for a "Robin Hood tax" on financial transactions to pay for HIV/AIDS treatment. New York State Senator Brad Hoylman was one of 16 activists arrested for blocking traffic on Second Avenue.
For a movement largely pronounced moribund by the mainstream media, there is a menu of activism that suggests otherwise. It will be a busy day.
Will you be at Union Square for a mass protest, or with the Occupy Puppets in their Money Warz spoof at Times Square?
Well, maybe it's time for Wall Street to contribute, rather than siphoning off our wealth. How about a sales tax on all transfers of stocks, bonds, and derivatives in order to fund tuition-free higher education at public institutions?
It's as if the entire economic recovery is going into the pockets of the rich. And that's no accident. Here's why.
Of course the IMF event was not without opposition voices. The strongest was Luc Frieden, the finance minister of Luxembourg, where a light regulatory and tax regime has boosted the size of the banking sector relative to GDP to a level similar to that of Cyprus.
This is a huge day," Rep. Keith Ellison announced April 17 at a press conference within view of the Capitol, referring to legislation he reintroduced for a Wall Street speculation tax with huge purpose.
Despite all the lasting harm caused by the casino capitalists, the big banks are now bigger, richer and more powerful than they were when they were bailed out in late 2008. The only ones who were punished were the U.S. taxpayers.