That's easily enough to stop cuts in crucial public services in the UK

I fear the mentallity would be "continue those cuts, but we can spend the increase in revenues on other shit"

Ah yes. It's a Tiny Tax.

A tiny tax that pulls hundreds of billions of Pounds out of the market. The market won't feel that at all, will it?

Idiots.

We've been having tiny tax increases since the 60s. After a while it adds up to a crippling total. And the irony is that no government entity has demonstrated a capability of living within the means of taxpayers.

How it works
The Robin Hood Tax is a tiny tax on bankers that would raise billions to tackle poverty and climate change, at home and abroad.

By taking an average of 0.05% from speculative banking transactions, hundreds of billions of pounds would be raised every year.

That's easily enough to stop cuts in crucial public services in the UK, and to help fight global poverty and climate change.

Posted by NoGov4M

It will be easy enough for bank to move derivative trading out of the UK. Most derivative counterparties are hedge funds and they are offshore already

It will be easy enough for bank to move derivative trading out of the UK. Most derivative counterparties are hedge funds and they are offshore already

#4 | Posted by Bigpun at

Riiight. Hey, put it in a 3rd world shit hole, a real libertarian paradise. Let me know how the next bail out you need goes when you hit the natives up for it, kplzthnx.

Gimme a break from the Marxist rhetoric! Tax the rich to fight poverty and (fictional) climate change?? Why not grow a beard and go fight the revolution in some South American jungle if you are so sincere about this nonsense?

#7 | Posted by Diablo at

It's much better to tax the poor and give it to the rich. You know, business as usual.

For those of you that bitch about how this 5 one-hundreths of a percent of tax will "take billions out of the market"...how do you feel about "maintenance fees"?

A Tobin-style tax, designed to prevent destabilizing financial speculation in global financial markets was, and is, a good idea, whether it raises pennies or billions in revenue.

Bank tax is a myth. They will just pass it on like any other cost.

how do you feel about "maintenance fees"?

#9 | Posted by LetUsPrey at

That money goes to people with more money than god so that's a good idea. The strange this is that good portion of the people against this don't have a pot to piss in or a window to throw it out of.

I love the idiots on this sight. If you think, for 1 second, that either the banks or the politicians give a flying fuck about you, you deserve the shit that happens to you.

The banks will take any tax and pass it along to the working people. The pols just use the subterfuge that they are taxing the rich to appease the middle class.

Bottom line, working people are the ONLY ones that pay taxes. Want more taxes on you? Then vote for any new gov't spending. Doesn't matter where they tell you it comes from, its eventually comes out of your pocket. Well, except in the US, where it comes out of the pockets of our grandchildren and great grandchildren, as our pockets have been empty for a long fucking time.