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What is the Robin Hood Tax? And why are more and more economists stepping up to say this is what America and the world needs for economic security? Tune in live to Coffee Party Radio as Will Rice, coordinator of the Coffee Party Commonwealth Project, and Annabel Park, founder of the Coffee Party, interview economist Dean Baker, co-director of the Center for Economic Policy Research. Baker has been advocating for the Financial Speculation Tax — a tiny tax on Wall Street transactions popularly referred to as the Robin Hood tax — for years now and it is now finally gaining support and momentum around the world.
Back in 2009, Baker wrote in his column for The Guardian, "Just like that perfect sweater, a financial transactions tax (FTT) would look just great on those Wall Street bankers and financiers. A modest tax, which would be too small for normal investors to even notice, could easily raise more than $100 billion a year. That's real money even in the land of AIG and Citigroup bailouts."
The Financial Speculation Tax could also help to reduce speculation in financial markets and thus bring about more market stability. It could be an insurance policy against the next financial market collapse. Check out the Robin Hood tax campaign in Britain. This idea is catching on around the globe.
The Coffee Party supports the financial transaction tax and has featured it in its position paper. In this hour, as part of the Citizens Intervention Series, we hope to not only learn more about it, but discuss what we can do to win.
