A Financial Transaction Tax, or a Robin Hood tax has been bulldozed into existence inside the EU this month…
‘Robin Hood’ wins: EU to levy Financial Transactions Tax from 2016
The EU has established a financial accord on an EU financial transactions tax to be implemented from 2016. Eleven EU member states will be imposing a ‘Robin Hood’ tax on financial transactions, after it was proposed in 2011 to counter financial crises.
The tax was proposed three years ago by German Chancellor Angela Merkel and then French President Nicolas Sarkozy to encourage banks to pay for the crippling financial crisis which had struck the eurozone, plunging a range of countries, including Greece, Ireland, Spain and Portugal, deep into debt.
…bulldozed because the elites do not want a Financial Transaction Tax. The Financial Economy that did so much damage to the real economy during the Global Financial meltdown, has a responsibility to share some of their vast wealth to rebuild that real economy.
A Financial Transaction Tax would do that…
…in NZ we didn’t have Robin Hood stealing from the rich giving to the poor, we had Hone Heke, which is why MANA call their Financial Transaction Tax the ‘Hone Heke’ Tax.
A .5% Financial Transaction Tax would generate more tax than all the revenue from GST while forcing the currency down, if the EU are serious about a Financial Transaction Tax, why isn’t NZ looking at it?
Why shouldn’t the mega wealthy, the corporations and the banks pay their fair share for once via a tax they can’t have their army of accountants hide? If progressives in NZ want extra funding to combat inequality, the money has to come from somewhere. A Financial Transaction Tax forces those with the most to pay vast sums of revenue that can be ploughed into the social and economic infrastructure.
In light of the EU taking this step this month, the time to debate a Financial Transaction Tax is this election.