On the heels of a massive European credit downgrade, France is making their banksters pay up. President Nicholas Sarkozy announced he would push forward with a financial transaction tax – or FTT – on banking institutions in France – charging a tiny one-tenth of one-percent tax on all stock trades. Not only will this tax – also known as a "Robin Hood tax" because it affects only the wealthiest people in the nation – raise some much needed revenue – about 12 billion euros a year – but it will also discourage high-frequency trading robots – and excessive speculation. The IMF estimates that a continental Robin Hood tax could raise $50 billion a year for debt-ridden Europe. Time to bring the Robin Hood tax to the United States – and put an end to our banksters financial manipulations.
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Comments
Amen! How can we ever restore a strong middle class when so much of the wealth of the country is tied up in so few hands? One-tenth of one percent is hardly confiscatory. How many times more than that rate would Mitt Romney, at 15%, need to catch up and pay as high a tax rate as a school teacher?
Amen! How can we ever restore a strong middle class when so much of the wealth of the country is tied up in so few hands? One-tenth of one percent is hardly confiscatory. How many times more than that rate would Mitt Romney, at 15%, need to catch up and pay as high a tax rate as a school teacher?
Mitt Romney is guilty of not only being a vulture capitalist, he goes out on the campaign trail and lies out his ass. He, like other conservatives, is fond of saying that the European debt crisis is caused by their generous social welfare programs and not the American bankster program. God forbid any of the current slate of conserv-itarians tell the freakin' truth about what their policies, as implemented by George W. Bush and Phil Grahm, amongst others, has done to our country.
When that piece of Mitt says that Europe doesn't work for Europe, much less America, he is flipping the truth on its head. The fact is, American vulture capitalism is a failure throughout the world and has caused more misery than any socialism ever could, as the purpose of socialism is to reduce suffering and the purpose of vulture capitalism is to ignore it. Welfare has not broken a single country. Militarism and greed are breaking ours.
Mitt should know better but, frankly, his audiences aren't very informed either or maybe the lie would not get as much traction.