Taking the stage in Lafayette Park across from the White House in front of nearly 1,500 union members and Occupy D.C., supporters, a not-quite Treasury Secretary Timothy Geithner look-alike vowed “Never, Never, Never” to impose a Robin Hood (or financial speculation) tax on Wall Street.
The day before participants at demonstrations in Washington, D.C., Cannes, France, Los Angeles and San Francisco will call on Congress and global leaders to adopt a small “Robin Hood” tax (financial speculation tax) to create jobs, bills were introduced in the U.S. House and Senate to adopt such a tax.
As world leaders head to France for the the G-20 economic summit in Cannes, labor leaders from around the globe will gather nearby to represent the needs of the world’s workers. Among their demands is a Robin Hood tax on banks and financial institutions that would exact a nano-percentage of each financial transaction to the tune of 0.5 percent. (See video.) That’s one half of 1 percent on every bond or derivative traded, stocks sold and a host of other “financial instruments” bought and sold by the very institutions bailed out by the world’s taxpayers.
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