Around the world, momentum is building behind a tiny tax on bankers that could generate billions of dollars to help with problems at home and overseas. It has been given different names in different countries – the ‘Robin Hood’ tax in the United Kingdom, ‘Steuergegenarmut’ or ‘tax against poverty’ in Germany, the “Robin des Bois” in Canada or France, Zerozerocinque in Italy and “La Tasa Robin Hood” in Spain, but we are all talking about the same thing. It is estimated a levy of only around 0.05% on financial transactions could generate between $200-$700 billion worldwide. Put another way, this tax could help solve most of the world’s major problems, without costing ordinary citizens a penny. Watch a banker explain in 3 minutes how it would work.
- What is unreasonable about a tax of 0.05% on financial transactions?
- Is this another one of those “pie in the sky” proposals?
- What would happen if this movement picked up steam?