Securities Transaction Tax

Support for Robin Hood Tax Growing, but Majority of Democrats Not On Board

October 31, 2013

Robin Hood tax supporters National Nurses United, economist Jeffrey Sachs, and European Parliament VP tell Congress to support “no brainer” tax on Wall Street Supporters of a tax on Wall Street financial transactions gathered on Capitol Hall last Wednesday to put pressure on Congress for its adoption. The tax, included in the Inclusive Prosperity Act, would charge 0.5 percent on every stock trade, generating an estimated $350 billion in new revenue each year. “Whenever we go to our communities and the representatives that are elected in Congress to clean the air, to increase funding for education, to improve our roads, improve the infrastructure in our country, we're always told there's not enough money, there's other priorities,” said Deborah Burger, co-president of the National Nurses United.  “And we actually have an answer, which is the financial transactions tax, or the Robin Hood tax.” The bill was introduced by Democratic Minnesota Congressman Keith Ellison and now has 17 cosponsors—all Democrats, who hold 191 seats in the House of Representatives. Other supporters of the tax include Bill Gates, Warren Buffett, George Soros and renowned economist Jeffery Sachs. “The financial markets destabilized the world economy,” said Sachs.  “They need to be regulated and taxed adequately, fairly, appropriately. The financial transactions tax is an important part of what should be an overall reform of the financial system. I'm delighted that Europe is moving ahead with the financial transactions tax. The United States needs to do the same.” Professor Lynn Stout of Cornell University Law School, who spoke at the gathering,…

Fmr. Goldman Sachs Trader Supports Robin Hood Tax As A Way to Move Away from Financialized Economy

October 24, 2013

Wally Turbeville: Robin Hood tax will mitigate problems of Wall Street’s trading behavior and move us towards creating jobs through manufacturing, innovation, and infrastructure

New Robin Hood Tax Introduced In Congress

October 22, 2012

A half-percent tax on all financial transactions makes it to Congress

Wall St. “Cheetahs” and the Financial Transaction Tax

August 9, 2012

The recent stock market volatility could have been restricted by a tax on transactions that would make the small quick score less attractive

In Chicago, Nurses Rally for "Robin Hood" Tax

May 18, 2012

National Nurses United calls for international campaign for financial transaction tax

A Wall St. Tax and an Independent Workers Movement

April 30, 2012

Rose Ann DeMoro and Robert Pollin: There is little will in Washington for a financial transaction tax because Wall St. has "occupied the White House"

Securities Transaction Tax Debate

August 9, 2011

A financial transaction tax is a small tax placed on a specific type (or types) of financial transactions. The way it is often discussed is a small tax on each trade of stocks, derivatives, currency, and other financial instruments. Introduction: Ralph Nader Consumer Advocate – Moderator, Dean Baker Dean Baker is co-director of the Center for Economic and Policy Research. He s worked as a consultant for the World Bank, the Joint Economic Committee of the U.S. Congress – Moderator, Gus Sauter George U. Gus Sauter is the chief investment officer of Vanguard Group. Sauter has been a trust investment officer with First Bancorp of Ohio (formerly The First National Bank of Ohio) Robert Pollin, arguing for the tax – Professor at UMass (Amherst), Robert Pollin s research centers on macroeconomics, conditions for low-wage workers in the U.S. and globally, the analysis of financial markets, and the economics of building a clean-energy economy in the U.S. Pollin s main research center is the Political Economy Research Institute Jim Angel, arguing against the tax – Professor James Jim Angel at Georgetown University has worked at BARRA (now part of Morgan Stanley) where he developed equity risk models. He has also been chairman of the Nasdaq Economic Advisory Board and a member of the OTC Bulletin Board Advisory Committee. He currently serves on the Boards of Directors of the DirectEdge stock exchanges