140,000

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Speculator Tax

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Play> *Speculator Tax* mp3

Speculator Tax / c stele ely

an itsy bitsy, you banker cats / e g(fret 5+EBe)
it’s less than 1 percent, the speculator tax a(fr7+EBe) e
to help the people and our planet we ask / e g(fret 5+EBe)
please pay the speculator tax a(fr7+EBe) b(fr7+EBe) e

stock and currency exchange markets a c(fret 5+EBe) e
trade trillions every day a c(fret 5+EBe) e
untaxed transactions to wit a c(fret 5+EBe) e
the speculators (are) free to play a c(fret 5+EBe) d(fret 7+EBe) e

don’t tiny winy you wall street cats
it’s less than 1 percent, the speculator tax
to help our planet and the people now get jazzed
offer to pay the speculator tax

this micro tax to be fair
on the big exchange trades
would raise billions every year
to make the world better place

a teeny weeny you trading cats
the less than 1 percent speculator tax
so tell your congress person yes yes yes
I want to pay the speculator tax

so we won’t have to call it the robinhood tax
speculators help us pass the speculator tax

//////
optionals: a itsy bitsy you banker cats
the point zero 5 percent speculator tax
Invest in Our Future yes yes
help us pass the robinhood tax

so big and small, make the call,
to your super duper rep today
let’s support this legislation, yes way
===========

ROBINHOOD TAX .org
robinhoodtax.org/how-it-works

We need this tax. Why? The financial crisis and the recession have left a massive hole in the government’s finances. Jobs and public services are at risk while many other developed and developing countries face a similar struggle. Thousands of Robin Hood supporters believe that banks, hedge funds and the rest of the financial sector should pay their fair share to clear up the mess they helped create!!!!

In the US, HR 755 was introduced by Rep. Pete Stark (D-CA). See http://www.stark.house.gov/index.php?option=com_content&task=view&id=2158&Itemid=62.
(house of representatives)

==========

Tax Wall Street Greed to Fund Global Needs
As a top climate polluter and the world’s largest economy, the United States owes the world a whole lot when it comes to climate change. H.R. 755, the Investing in Our Future Act, introduced by Representative Pete Stark (D-Calif.) this week, would create climate and health funds to help developing countries by taxing Wall Street greed.

By placing a tiny levy on an untaxed financial market, the Investing in Our Future Act could raise $5 billion in urgently needed funds for climate change and health programs in impoverished countries, while reducing the budget deficit here at home.

We need your help to build momentum for this important piece of legislation. Please urge your member of Congress to co-sponsor the Investing in Our Future Act today.


The Investing In Our Future Act
Blog Post: Friends of the Earth
Wall Street Greed Fueled Egypt’s Turmoil
Food Egypt & Wall Street


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9 comments to Speculator Tax

  • I am a green pop artist as my artist name mentions it so well LyLy GreenLuv, all my songs promote Green and Love values at the same time. visit me at http://www.lylygreenluv.com

  • This tax on the financial sector has the power to raise hundreds of billions every year globally. It could give a vital boost to the NHS, our schools, and the fight against child poverty in the UK – as well as tackling poverty and climate change around the world. Not complicated. Just brilliant. http://robinhoodtax.org/

  • French President Nicolas Sarkozy has announced plans to introduce a 0.1% tax on financial transactions in August, regardless of whether it is implemented in other European countries.

    Speaking last night on French television from Paris, Sarkozy said: “What we want to do is provoke a shock, to set an example. There’s no reason why deregulated finance, which brought us to the current situation, can’t participate in the restoration of our accounts.”

    "We hope the tax will generate one billion euros ($1.3bn, £0.8bn) of new income and thus cut our budget deficit."

    Sarkozy announced the Financial Transaction Tax as part of a package of measures spur growth and create jobs. Further details of the tax are still to be confirmed.

    David Hillman, spokesperson for the Robin Hood Tax Campaign, said:
    "Sarkozy has shown he is capable of reining in the banks and ensuring they pay more in tax. Why then is David Cameron so resistant when the idea is backed by the British people? http://robinhoodtax.org/latest/france-introduce-f

  • Anyone know how 755 is doing? http://www.stark.house.gov/index.php?option=com_c

    Events around the world are highlighting a need to put a fee on these speculative financial transactions, and use the funds to invest in our future. As part of these efforts, 39 global advocacy organizations sent a letter to President Obama today, urging him to support the Investing In Our Future Act. From the letter:
    "We call on you to support the Investing in Our Future Act of 2011, which would generate new funds to help cut the U.S. deficit and secure financing for life-saving health, climate resiliency, and low-carbon development programs in impoverished countries. This would be accomplished through a 0.005% levy on foreign currency exchange transactions by large-scale investors, such as investment banks and money center banks, in the U.S."

  • ROBINHOOD GLOBAL MARCH
    adbusters.org/blogs/adbusters-blog/robinhood.html
    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.

  • Dean Baker quote: For the 99 percent there are much better ways of dealing with whatever deficit problems may arise down the road. Most obviously, insofar as we need more revenue we can look to tax the sort of financial speculation through which the Wall Street gang makes its fortunes. A very small tax on trades of stocks, options, credit default swaps and other derivative instruments could raise a vast amount of money.
    The Joint Tax Committee of Congress estimated that a tax of just 0.03 percent on each trade, as proposed by Senator Tom Harkin and Representative Peter DeFazio, would raise more than $350 billion over the first nine years that it is place. This is real money. It is an order of magnitude larger than the measures that have been suggested to go after the wealthy, such as President Obama’s bank tax or most versions of the Buffet Rule.
    Via: Dean Baker is co-director of the Center for Economic and Policy Research in Washington, D.C. http://www.nationofchange.org/wall-street-gamblin

  • From NATION OF CHANGE by Carey L. Biron
    In an open letter published Thursday, 52 professionals from the financial sector urged the U.S. Congress to pass legislation mandating a tax on financial transactions.

    The tax would cover stock trading, derivatives and other financial instruments, but, proponents say, would have a significant impact only on so-called high-frequency trades, in which computer-driven speculators typically hold stocks for mere milliseconds.

    “These taxes will rebalance financial markets away from a short-term trading mentality that has contributed to instability in our financial markets,” the letter stated. “The primary role of financial markets is to raise investment, allocate resources efficiently, and mitigate risk. However, much of today’s financial activity does not contribute to these goals.”
    http://www.nationofchange.org/us-financial-profes

  • As he embarks upon the second term that not all presidents are given, Obama would do well to take the counsel of National Nurses United executive direector Rose Ann DeMoro, who said after the election, “The President and Congress should stand with the people who elected them and reject any cuts in Social Security, Medicare, or Medicaid, strengthen Medicare by expanding it to cover everyone, and insist that Wall Street begin to repay our nation for the damage it caused our economy with a small tax on Wall Street speculation, the Robin Hood tax.”

    That reference to the Robin Hood tax is worthy of note.

    President Obama ought to get serious, in his second term, about finding the revenues to pay for the strengthening and expanding of necessary programs: ideally by taxing the wealthy as they were in the days of America’s greatest economic expansion, and also by imposing that “Robin Hood Tax” on financial transactions. http://www.commondreams.org/view/2012/11/07-0

  • Via: robinhoodtax.org New York City – The Northeast is still reeling from Sandy. Heavy rains, fierce winds and surging seas – 30% beyond previous record levels – walloped the region last week, leaving low-lying communities submerged, millions without power, thousands homeless and … loss of life. It was a very large dose of reality: man-made effects of climate change are here and now. New York Governor Andrew Cuomo said that with Hurricane Sandy comes “the recognition that climate change is a reality; extreme weather is a reality; it is a reality that we are vulnerable.”

    Increased attention, research and plans of action on climate change – both in the U.S. and internationally – are squarely within the scope of the Robin Hood Tax Campaign. Addressing infrastructure needs are also a high priority for RHT, making arguments for a Wall Street sales tax on speculative trading even more compelling. Sandy’s damage makes clear that in both these areas – climate change and enhanced infrastructure – immediate, coordinated steps on a federal level are required without delay. http://www.robinhoodtax.org/latest/robin-hood-tax

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