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    tree14's Avatar

    A "Robin Hood Tax"

    Having just written another personal check to the US Treasury, I had an idea to share. There is an unnoticed way to raise revenue. A Robin Hood Tax also is suggested for stock exchanges in Europe, especially the Common Market countries.
    How it works is simple. Each new stock, bond or derivative transaction would involve a tiny tax which would go directly, no stings attached, to the US Treasury. The Robin Hood tax might be twenty-five or fifty cents on each separate trade. With the huge volume of business done each day, it could bring in as much as $350 billion dollars in new revenue each year.
    Another desirable side effect would be that the giant and international banks-J.P. Morgan Chase, AIG, Goldman Sachs, JP Morgan, and the hedge funds, together with their henchmen, might think twice before executing the massive amount of late-session trades which bring about losses and volatility on todayís Wall Street. The Robin Hood tax would work to the benefit of small investors. The Robin Hood Tax would help us out of the trade imbalance and the debt crisis; keeping some of Uncle Samís hard-earned money right here in the good olí US, where it belongs. What do you thinK?
    Best wishes, tree 14

    Barry- I'm posting this because I honestly think the US is about to lose its triple A credit rating! Also because I think this tax might have an easier time getting approved by Congress than spending cuts at this point of time.
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