The Robin Hood tax, a small tax of less than ½ of 1% on Wall Street transactions can generate hundreds of billions of dollars each year in the US alone. It is an idea whose impact can be felt globally as well.
Robin Hood Tax
Major nurse and healthcare union organizations marched, rallied, and held other actions in 13 countries Tuesday in the first coordinated global day of action in a call to stop the harmful effects of austerity measures, cuts in health care services, improved patient care, and economic healing and recovery. Many of the actions, including a colorful march and rally in New York City by thousands of members of healthcare, labor, and community groups also stepped up the push for a tax on financial speculation, also known as the Robin Hood tax to raise the hundreds of billions of dollars from the banks and speculators to promote the global healing.
On a historic New York anniversary—two years since Occupy Wall Street’s takeover of Zuccotti Park—unions and activist groups marched through the city demanding the Robin Hood Tax, a ½-percent tax on Wall Street financial transactions which could generate up to $350 billion annually. Those dollars, the National Nurses Union (NNU) and partner groups say, should be used for housing, health care, infrastructure, fighting AIDS, and addressing climate change. They chanted, “Want to end this deficit? End the war, tax the rich.”