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| Economy |
| G20 leaders stress "Robin Hood Tax" on banks as fair, productive |
| 2010-11-09 |
| (KUNA) -- Organizations from 42 countries Monday issued a plea here to world leaders to impose a tax on financial transactions to help meet the costs of the economic crisis and support developing nations. The group amounts to the largest coalition yet to give its backing to an international financial transactions tax, and includes members of the UK-based "Robin Hood" Tax campaign including the Trade Union Congress (TUC), Friends of the Earth, and ActionAid. Their plea comes ahead of the summit of leaders of G20 economic powers in the South Korean capital Seoul on November 11-12, when measures to stabilize the world economy and boost the recovery will be high on the agenda. Today's letter released here, addressed to G20 leaders including Prime Minister David Cameron and US President Barack B.O.Obama, is signed by development, health, education, and environmental charities and unions from 16 of the G20 countries. It says that a financial transaction tax would help meet the costs "of the global financial and economic crisis, including reducing the unacceptably high rate of job loss, and achieve key development, health, education, and climate change objectives in developing countries." TUC general secretary Brendan Barber said, "Governments around the world are embarking on a sweeping program of austerity measures that will lead to huge job losses and cuts in services that the most vulnerable in society rely upon. "At the same time, the banks are back to business as usual with multimillion pound salaries being paid to the chief executives of bailed-out banks and billions handed out in bonuses. "A Robin Hood Tax would mean the world's banks paying to reduce deficits they helped cause, and would remove the need for such swinging cuts in public spending." Friends of the Earth's head of international climate Asad Rehman said, "Recent floods in Pakistain and droughts in Africa show the devastating reality of climate change on people in developing countries. ActionAid meanwhile said, "The G20 must now turn the global economic crisis into an opportunity to help the world's poorest. A tiny tax on the banks could raise hundreds of billions needed for those around the world feeling the effects of a crisis they did the least to create." |
| Posted by:Fred |
| #9 As near as I can tell, this 'Robin Hood Tax' idea is not coming from G20 leaders: it is coming from the various hard-left/watermelon pressure groups and addressed TO the G20. A reasonable response might be 'STFU/GTFO'... but I am not known for diplomatic nuance. |
| Posted by: Free Radical 2010-11-09 12:56 |
| #8 More worthless ideas from a worthless organization. Shit in = Shit out |
| Posted by: DarthVader 2010-11-09 11:44 |
| #7 The bank that received bailouts yet doesn't modify any loans and work with homeowners needs this tax. |
| Posted by: Uleger Barnsmell4617 2010-11-09 10:12 |
| #6 good idea! Let's make production of wealth and employment more expensive /Barack "I'm a communist, not a Kenyan" Obama |
| Posted by: Frank G 2010-11-09 09:39 |
| #5 I knew a robber once who said "The way I see it, they owed me that money!" The image has stayed with me for years. I guess there were too many honest people in my youth to understand. |
| Posted by: Fred 2010-11-09 09:03 |
| #4 A "Robin Hood Tax" huh? You know, considering Robin Hood stole from tax collectors that just might be one of those oxymoron thingies. |
| Posted by: DepotGuy 2010-11-09 08:48 |
| #3 Actually I could be convinced to support a hundred percent tax [ie matching funds] of all political contributions made by banks, financial institutions, and the top three management layers thereof. Since they got their sock puppets to use the public treasury to bail them out, they might as well be tagged for something back. |
| Posted by: Procopius2k 2010-11-09 07:46 |
| #2 Lets start by taxing all fund transfers from Soodia to their "friends" in Washington & EU capitals. |
| Posted by: g(r)omgoru 2010-11-09 02:18 |
| #1 The robber always thinks a stick-up is fair. |
| Posted by: mojo 2010-11-09 01:23 |