Seems that a stalled Wall Street tax inititive in the USA has supporters in the UK calling for a Robin Hood tax, which would tax stock transactions as small fee on every sale.
UK Robin Hood tax coming to the USA?
by moshe 6 Replies latest social current
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moshe
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http://www.buzzpatrol.com/robin-hood-tax-campaign-launched-in-u-s/
-The Robin Hood Tax movement, which has gained a strong following in the UK and several other countries, launched their U.S campaign yesterday. The Robin Hood Tax - which gets its name from the legendary British folklore character Robin Hood, who robbed from the rich to give to the poor - is calling for a financial transaction tax. Check out this brilliant viral made by Richard Curtis and Bill Nighy about Robin Hood Tax - it makes a very convincing argument indeed.
Robin Hood Tax supporters claim that by taxing financial transactions by the smallest amount - a 50-cent tax on every $100 of stock trades and less on other financial transactions - could raise billions of dollars to invest in jobs, healthcare, housing, education, combating poverty and climate change.
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Anony Mous
Would be awesome. Given all the microtrades that kill the economy, would kill a lot of the bubbles in the market.
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biometrics
I'm totally against a lot of taxes. But this is one tax I could live with.
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designs
It might be the government is targeting Dark Pool Stock Trades, trades not done on the Exchanges like NASDAQ and NYSE. These trades by the banks and brokerages leave out the individuals. Dark Pool trades account for about a thrid of all stocks trades.
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moshe
This tax will be poison for the fatcats on WallStreeet.
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Balaamsass
Love the idea. May slow down high speed trading.