Known under various names (Robin Hood tax, Tobin tax, financial transactions tax), a tax on the sales of stocks, bonds, futures, options and other derivatives is gaining worldwide traction as other nations turn their attention to the source of their own financial crises. The transactions in question are estimated to approach $5-6 quadrillion per year! These massive flows of money must be tapped, both to generate the revenue needed to fund social programs and obligations, and to reduce the burden of predatory financial speculation.
While working families pay on average 7% in sales tax for clothing, utilities and even food, hedge fund operators pay nothing.
This is historical material “frozen in time”. The website is no longer updated and links to external websites and some internal pages may not work.
