The Robin Hood Tax

Taking inspiration from economist James Tobin, the new UK campaign for a “Robin Hood Tax” is a great example of the type of social movement for economic reform we need across the world. A global Robin Hood tax is a crucial part of transition from a growth-based economy to one that is people-based. This type of financial policy can be instuted to actually help eliminate poverty and hunger, fight climate change, and put social equality into a system that rewards greed instead of good.

By taxing a¬†minuscule¬†amount of each financial transaction (we’re talking half a percent – 0.5%) you could raise up to $500 billion or more a year, reduce speculative investing (the kind that promoted the recent Great Recession), and put the banks in check (those guys we just bought out with taxpayer money that made $5 million bonuses).

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