Sunday, December 15, 2013

Advocate for a "Robin Hood" financial transactions' tax


"CCDS Statement on Robin Hood Tax"
posted 2012-08-17 to []:
The vast wealth amassed by US finance capital has been created over many decades by working people in this and many other countries. The unsustainable disparity in wealth under capitalism has resulted in a profound global social and economic crisis. Unbounded greed drives the moguls of Wall Street to push austerity on its victims to rescue themselves from the crisis.
The people’s fightback has taken many forms.The campaign to restore the federal financial transactions tax is one of these fights. It offers a chance to take back speculative gains and apply them to health care, education, housing, infrastructure and other job-generating programs that meet human needs.
A 0.5% tax on stock sales over $100, plus a lesser levy on other financial trading, will generate as much as $350 billion per year. Together with a long-delayed peace dividend and the establishment of a single-payer, Medicare-for-all healthcare system, we will see the end of the recession and a path forward.
Take it back! Make Wall Street fund a recovery for Main Street:
* Improved Medicare for all
* Decent affordable housing
* Safe & healthy environment
* Quality universal education
* Good jobs with dignity for all
* Bring them home: Rebuild our crumbling infrastructure
Both Representative John Conyers’ Humphrey-Hawkins 21st Century Full Employment and Training Act (HR.870) and the Sanders-McDermott American Health Security Act (S.915-HR.1200) employ such a financial transactions tax to fund their goals.
A financial transactions tax, known globally as the Robin Hood Tax, was in place in the US until 1966. Forty countries have it right now. Other countries are weighing its launch. The Committees of Correspondence for Democracy and Socialism urges all to join the new coalition being formed to push this campaign forward. Go to to get plugged in.
It’s not a tax on the people, but a tax for the people.

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