From the TUC

US experts call for Robin Hood Tax

17 Jun 2010, by in International

In the US, the Robin Hood Tax is more often called a “financial speculation tax” or FST. There’s a new report out today from the respectable Institute for Policy Studies, Taxing the Wall Street Casino, which sets out how an FST would work and what its impact would be. The report loks at a range of options for raising revenue that have merit, including everything from raising capital gains taxes to progressive estate taxes, but focuses on an FST. As the report’s authors say:

“No one claims that taxing speculation will solve all our problems. It won’t singlehandedly prevent another financial crisis. It won’t create all the jobs we need, eliminate global poverty, or solve climate change. But combined with other sensible financial regulations, it could take us a long way towards reining in Wall Street and meeting urgent social and environmental needs.”

2 Responses to US experts call for Robin Hood Tax

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  2. Tim Worstall
    Jun 18th 2010, 12:38 pm

    Oh my, how absolutely remarkable!

    They take no note whatsoever of what people have been saying about the tax. That does surprise me!

    Nothing about tax incidence, nothing at all about the IFS report into Stamp Duty (although they use Stamp Duty itself as an example), nothing about widening margins…it’s as if no one had ever mentioned these criticisms.