Friday, February 12, 2010

Robin Hood Tax

The Nation:

On Wednesday, British activists launched a major campaign to push Gordon Brown's government into adopting a "Robin Hood Tax" on financial transactions -- a tiny tax on bank transactions that could raise hundreds of billions for public services and for tackling poverty and climate change. "By taking an average of 0.05 percent from speculative banking transactions, hundreds of billions of pounds would be raised every year," their website asserts.

The campaigners unveiled a truly brilliant little sketch featuring British actor Bill Nighy as a smarmy banker. Nighy also took to the airwaves on the BBC's biggest morning shows arguing that a tiny transaction tax would be "small change for the bankers, but big change for the world."
Say what you will (and many of you will), but if you put your chosen ideology aside, and consider the cost/benefits of such a tax...

It just makes sense.

1 comment:

  1. that idea was floated in the US for a short bit a 0.025% tax on translations was proposed here and it would have generated 100-200 Billion per year. I thought it was a great idea.