The Robin Hood Tax on Financial Transactions

There is now buzz about a new financial transactions tax ? nicknamed the Robin Hood Tax ? which would place a small tax on financial transactions. Supporters of this proposal say that take money from the wealthy and help combat speculation. Critics, on the other hand, argue that it won’t raise much revenue and will bring about more job losses.

It may be relevant to note that Robin Hood stole from the royalty (whose wealth was no doubt unearned), while taxes take from successful businesses and people who earned their wealth in the market by providing goods/services. If nothing else, politicians in Washington are certainly desperate to find ways to reduce the national debt and lower the unemployment rate.

For more information about this topic, please see the following articles:

• www.cnbc.com/id/45583134
• www.bbc.co.uk/news/business-16074212
• http://biggovernment.com/newledger/2011/12/08/robin-hood-tax-would-hurt-the-little-guy-more-than-big-banks
• www.nytimes.com/2011/12/07/business/global/micro-tax-on-financial-trades-gains-advocates

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