Why the proposed financial transaction tax should be named after another British figure
Do you support a Robin Hood tax and do you support a tax on
financial transactions are two very different questions.
Unfortunately, in the eyes of many, including top regulators,
they are as one.
The problem with calling the financial transaction tax a
Robin Hood tax is that it taps into the widespread anger
surrounding the riches the financial services industry has
enjoyed at a time when the real economy faces cuts and
Few would argue against the merits of a Robin Hood tax. I am
not a raving liberal and certainly will not take my tent and
camp outside St Pauls anytime soon, but it is clear that the
continued growth of inequality in the US and Europe is an
unsustainable path that must be checked to prevent instability
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