Showing posts with label Wall Street tax. Show all posts
Showing posts with label Wall Street tax. Show all posts

Wednesday, October 3, 2012

Obama Romney Budget Deficit Tax Reality Check

It's untruthful for both President Barack Obama and GOP nominee Mitt Romney to be running away from having some responsibility in the horrible federal budget deficits.

President Obama signed an extension of the Bush era tax cuts, and the GOP rigged it to be that way.

Austerity is in our future, because both the Democrats and Republicans in Washington are afraid to raise taxes on the 1%. And nobody gets pressed on the Robin Hood tax.

Instead, watch the livestream by Democracy Now. Democracy Now is expanding the debates and letting alternative candidates (like Jill Stein) participate in the presidential debates in real time.

Watch live streaming video from democracynow at livestream.com

Monday, July 9, 2012

What is the Robin Hood Tax ?

Robin-Hood-Tax, Robin-Hood-Tax

Simply put, the big idea behind the Robin Hood Tax is to generate hundreds of billions of dollars. That money could provide funding for jobs to kickstart the economy and get America back on its feet. It could help save the social safety net here and around the world. And it will come from fairer taxation of the financial sector.

This small tax of less than ½ of 1% on Wall Street transactions can generate hundreds of billions of dollars each year in the US alone.

Enough to protect American schools, housing, local governments and hospitals. Enough to pay for lifesaving AIDS medicines. Enough to support people and communities around the world – and deal with the climate challenges we're facing.

It won't affect ordinary Americans, their personal savings, or every day consumer activity, such as ATMs or debit cards. It's easy to enforce and tough to evade.

This is a tax on Wall Street, which created the greatest economic crisis in our nation, and globally, since the Great Depression. The same people who have returned to record profits and bonuses while ordinary Americans, the 99%, continue to pay the price of their crisis.

So it's time for justice for ordinary families and businesses. For American families faced with a choice between buying food or paying the heating bill.

The Robin Hood Tax is just. The banks can afford it. The systems are in place to collect it. It won't affect ordinary members of the public, their bank accounts or their savings. It's fair, it's timely, and it's possible.

It's not a tax on the people, but a tax for the people.