Robin Hood for Treasury Secretary. The gift that keeps on giving!
Who wins: Robin Hood or the Grinch?
The holidays are traditionally a time of gift giving and concern for the less fortunate. As the effects of the Great Recession linger, including 4.9 million Americans without a job, and income equality at its highest level ever in the US, it seems 90% of us are among the less fortunate.
We know something is fundamentally wrong; even if holiday spending is up, the dream of shared prosperity seems more elusive. The National Journal reported recently that average wages for the 90% have gone up a bout 10% since 1979, while the top 10% have average wage gains of 125% (down from the peak gain of 150% as of 2008).
Around the world, poverty, hunger, and disease threaten global health. At this rate, the Grinch isn’t going to steal Christmas, he’s going to take away the possibility of a just society.
We know who has benefited from the economy of the last 30 years: the finance sector, Wall Street. They have accounted for 27-40% of all annual profits made in the US. They have received up to $27 trillion in bailouts, guarantees and loans since 2008. Wall Street has paid out more than ten times in employee bonuses than in fines for their misdeeds that collapsed the economy.
It’s time to take back what they have taken from us. It’s time for Robin Hood, specifically a Robin Hood Tax on Wall Street trades. It’s a simple idea: Add a sale tax on Wall Street trades of stocks, bonds, derivatives and other financial transactions. It’s like the sale tax you pay when buying a pair of shoes.
This should be the top priority of the next Treasury Secretary. In fact, who better to be the next Secretary of the Treasury than the advocate for working folk: Robin Hood! So he will be personally applying for the job at the Treasury Department (next to the White house) on December 20th. We hear the Grinch may greet him, but Robin Hood will not be deterred!
Help us deliver this message to the White House on December 20th: 202-456-1414.
Our proposal, H.R. 6411 (Ellison), is for a small tax of .5% or less on trading of stocks and other financial instruments. It adds up to big money — hundreds of billions every year to heal the U.S. and global economies.
Think of how that could help our country. It could fund 9 million new jobs that pay an average of $38,844 a year or save 1.7 million homes from foreclosure. Guaranteed healthcare for all. End HIV/AIDS in a generation, stop poverty and hunger, and fund the transition to a non-fossil fuel based economy.
For the issues we care most deeply about, to build a better life for ourselves and the next generations, to go beyond the demands for tax cuts for corporations and cuts to earned benefits and social investments, we need new resources for a new economy.
Yes, we know how to pay for it.
Join us December 20th by calling President Obama to urge him to appoint a Robin Hood Tax supporter as the next Treasury Secretary. (202-456-1414) Our message is simple: Heal America. Re-Build the Dream. Tax Wall Street.