"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."
Ottawa (21 Oct. 2011) - The National Union of Public and General Employees (NUPGE) is welcoming the news that the Occupy movement, currently holding actions in several countries, is planning for a Global March for the Robin Hood Tax on Oct. 29.
The proposal came from Adbusters magazine which says that:
Eight years ago, on February 15, 2003, upwards of 15 million people in sixty countries marched together to stop President Bush from invading Iraq … a huge chunk of humanity lived for one day without dead time and glimpsed the power of a united people's movement. Now we have an opportunity to repeat that performance on an even larger scale.
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.
The Robin Hood Tax
The proposal has already received support from a number of prominent individuals. French President Nicolas Sarkozy and German Chancellor Angela Merkel are behind the plan as well as Bill Gates, chairman of Microsoft. It has also been endorsed by thousands of economists world-wide.
The Financial Transactions Tax (FTT) or commonly called a Robin Hood Tax would be a small tax on financial transactions which would generate hundreds of billions a year. There are differing proposals for the tax level but one that is most frequently used is 0.05% (1/20 of 1%). This tax level would raise approximately $400 billion (Cdn) per year. The tax would not apply to the overwhelming majority of consumers or businesses.
Funds from the tax would be used to pay for the social costs of the economic crisis, to fight global poverty, to meet global public needs such as health care and to mitigate and adapt to the impact of climate change.
Supporters also suggest that it would contribute to greater stability within the financial system by reducing speculation and excessive liquidity.
For more information:
The National Union of Public and General Employees (NUPGE) is one of Canada's largest labour organizations with over 340,000 members. Our mission is to improve the lives of working families and to build a stronger Canada by ensuring our common wealth is used for the common good. NUPGE