April 7, 2010 The Robin Hood Tax a movement who’s time has come, starting with a tax on banks who engineered the collapse of the US financial system and other world banks. The Robin Hood Tax Website is promoting a tax be levied against banks which can be used for ending child poverty, and tackling causes of climate change around the world. Thus far Banks go untaxed with huge profits that remain in the hands of the few CEO’s that marched the country into a depression.
Today the banks are not lending which is strangling capitalization of new businesses and killing the rest of businesses that rely on small short term loans. Banks have raised their lending standards in the wrong direction and during a recession that needs capital lending plans.
The Robin Hood Tax presents a refreshing and sustaining goal which is to tax banks, hedge funds, and other investment institutions with a tiny tax that would tax billions of dollars through every transaction worldwide including derivatives, shares, and the foreign exchange transactions and would also raise billions each year. The Robin Hood Tax started in the UK at a time when we know who destroyed the financial stability of the world and reforms must be initiated to tax bank profits.
The Tax is not difficult to understand as most banks involved in the scams from the US are chalking up record profits a short time after they were on the brink of bankruptcy in 2008 but made a quick recovery.
The UK has commenced this movement and as the “Move Your Money” action started in the USA most taxpayers do not support further funding to banks but do support a prevention mechanism which will take the power away from major banks and into the hands of the taxpayers and small businesses that require business loans. The stangation of the economy is also attributed to the major banks who are hoarding loan funds and have the funds to buy out other banks. In this video the Robin Hoodies are rocking the world of bank CEO’s who have given themselves millions in bonus money inspite of creating scams to line their own pockets.
The Bankers are represented here in this video.
In Australia the launch of the Australian Robin Hood Tax has taken hold and worldwide the adoption of the Robin Hood movement is catching fire as a taxpayer initiative.
Of course we have the political side of supporters with such notables as : Gordon Brown, Prime Minister of England, German Chancellor Angela Merkel and Nicki Sarkozy the French President but why didn’t they come up with this innovative idea?
Warren Buffet supports the idea, as well as other philanthropists George Soros, and Lord Turner from the Financial Authority who all back this idea plus a host of hundreds of economists. It represents what some term a “Brilliant Idea” which will be adopted by every country of the world.
As the US is now raising their interest rates today still in a time of economic stagnation it is a timely proposal to tax the Banks in this economy. The government of the USA has still to effectively regulate their banks and a financial collapse could occur again in 201o because there are still no regulations for financial reform.
People in the UK and the USA feel the same stinging criticism of banks and are welcoming the idea of taxing the Banks which they believe created through criminal acts the devestation of investments and loans which forced foreclosure on families and homeowners.
All Governments in the G-20 Summit called for stricter regulations but have not passed new laws but the Robin Hood Tax is an initiative for them to “put their money where their mouth is” and finally take action.
These measures would be global which would involve all countries and the International Monetary Fund is reviewing the issue of Financial Transaction Taxes. It would be a tax on institutions rather than the public and could not be passed on to the consumer. The funds would have to be collected by a separate branch of government and must be used for : eliminating child poverty, improving global climate change initiatives and devoted to green budgetary measures of clean energy for homeowners.
The whole idea is Robin Hood’s goal in life: take from the rich and give to the poor and today it is needed more than ever before.
The Robin Hood Day of Action is April 10th, 2010 in Britain where the London, Glasgow or in Cardiff you can make your own personal voice heard, and thousands will dress as Robin Hoods and promises to be a real event for change.
TAGS: Robin Hood Tax, Robin Hood Tax gains popularity, Robin Hood Tax Worldwide, Robin Hood Tax on Banks, G-20 Summit, IMF, Financial Transaction Taxes go to the Poor, green energy.