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Forum Post: NEWS: Occupy Announces #Robinhood Global March

Posted 11 years ago on Oct. 19, 2011, 12:52 a.m. EST by precipice (220)
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OccupyWallSt and AdBusters have announced the #Robinhood Global March for October 29th. They are proposing for the world to rise up and demand for the 1% #Robinhood tax, which is essentially a tax on stocks, commodities, currencies, derivatives, and other trading investments.

Here's the announcement:


  • On October 29, on the eve of the G20 Leaders Summit in France, let's the people of the world rise up and demand that our G20 leaders immediately impose a 1% #ROBINHOOD tax on all financial transactions and currency trades. Let's send them a clear message: We want you to slow down some of that $1.3-trillion easy money that's sloshing around the global casino each day – enough cash to fund every social program and environmental initiative in the world. Take this idea to your local general assembly and join your comrades in the streets on October 29.

What is the "Robinhood Tax?" A short explanation at http://www.occupyr.com/News/thread.php?id=204



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[-] 1 points by sqgl (1) 11 years ago

Adbusters started OWS and they first said 0.05% not 1% “Take from the rich, give to the poor: the concept has been around for a long time, but it’s now gaining new legs in the form of the Robin Hood Tax. The tax would take approximately 0.05% from currency exchanges and speculative banking transactions, forcing those who caused the financial crisis to pay for it.” http://www.adbusters.org/campaigns/actions/robin-hood-tax.html

Now they have changed it to 1% out of the blue with zero analysis of feasibility. All I can find is feelgood sentiment.

The very online petition Adbusters asks us to sign lists three possible taxes under the Robin Hood Umbrella: The Financial Activities Tax (FAT) A Bank Levy and... “A Financial Transaction Tax (FTT) The best of the lot. A tiny tax of about 0.05% on transactions like stocks, bonds, foreign currency and derivatives. Could raise £250 billion a year globally. Well-tested, cheap to implement and hard to avoid.” http://robinhoodtax.org/how-it-works/everything-you-need-to-know

EU suggesting about 0.11% acording to the New Statesman "A European Commission paper drawn up this year suggested that a tax of 0.1 per ecnt on stocks and bonds, coupled with a 0.01 per cent levy on derivatives deals, could raise between €31 billion and €50 billion each year." http://www.newstatesman.com/blogs/the-staggers/2011/08/tax-european-financial

Or listen to the first podcast of an ABC radio program on this page http://OccupyAustralia.info

[-] 1 points by precipice (220) 11 years ago

as of the moment, adbusters continues to be the professional organizers behind the movement. as i understand it, they are behind the occupywallst.org and occupytogether.org websites, or at least have substantial influence in the content.

i do think eventually, the american people need to take ownership of this movement. we need to stop taking directions from others, including organizations such as adbusters and become a democratic movement.

[-] 1 points by precipice (220) 11 years ago

lol, where's the enthusiasm?