Unions, Activists March on Washington to Demand Robin Hood Tax on Wall Street

Today at noon, activists from  ACT UP, National People’s Action (NPA), Health GAP, VOCAL-NY, and National Nurses United (NNU) all gathered in Washington DC to declare that one way to fight AIDS at the national level was to implement a Robin Hood Tax. 

​From their press release:

The Robin Hood Tax movement march will bring together AIDS activists, nurses and supporters from around the U.S.  Marchers will assemble at Mt. Vernon Place and 9th St., NW (across the street from the Washington Convention Center) and proceed along New York Ave. before concluding with a rally in front of the U.S. Chamber of Commerce Headquarters, 1615 H St., across from Lafayette Park. .

Building on calls to tax Wall Street speculative activity, on June 19 the Robin Hood Tax movement launched its website in the U.S. ( www.robinhoodtax.org) and protested at JPMorgan Chase branches around the country after revelations that the bank’s high-risk bets led to billions in losses.  Estimates of losses tied to the bank’s speculative trading now run as high as $9 billion.

...The Robin Hood Tax is a small sales tax -- 50 cents per $100 on trading in stocks, and smaller assessments on bonds, derivatives and currencies -- that could raise $350 billion annually in the U.S.  The tax is aimed at high-volume trading, which today makes up a majority of all trades.  In addition to much-need revenue, experts say Robin Hood  will help place limits on the reckless short-term speculation that threatens financial stability as well as to curtail speculation in essentials-- food and fuel. 

This awesome video from the Robin Hood Tax campaign puts celebrities, nurses, ministers and others together asking for "small change for banks, big change" for everyone else:


AlterNet / By Sarah Seltzer

Posted at July 24, 2012, 8:04am