A coalition of groups and supporters have launched a campaign to educate Americans about how a Financial Transaction Tax would work as well as their importance as a key revenue raising tool. Described as “small change for banks, big change for people,” not only will it raise substantial “change” for investment in this country’s infrastructure, schools, health care (fill in the blank; we have so many needs) it is designed to slow down Wall Street’s casino mentality and stabilize financial markets.
The video on YouTube spotlights nurses, ministers, musicians and others who are seeing the devastation of the financial crisis in this country up close and personal. For more information, check out our campaign page.
Last week, a group of financial industry professionals sent a letter to the G20 and European leaders outlining why they support implementing financial transaction taxes.
A tax like this can serve two purposes:
- it can slow down the short-term trading that adds virtually nothing of value to our economy and
- it will raise some much needed revenue; estimates are about $150Billion annually.
Actions: Add your name to the list of supporters for our campaign if you haven’t already. Support the Robin Hood Tax campaign here.
Look for more on this important topic in the very near future.