Wall Street


Across the country —from Palo Alto to El Paso, Maine to Miami—nurses and other activists rallied today in the late winter sun to lobby Congressional lawmakers for a tax on Wall Street’s riskiest transactions.

President Obama’s 2015 State of the Union speech included calls for higher taxes on capital gains and closure of assorted tax breaks for the 1 percent.  And Representative Chris Van Hollen, the second top ranked Democrat in the House, recently showed his support for the Robin Hood Tax by co-sponsoring the Inclusive Prosperity Act.  it’s clear the campaign for tax justice is making traction in Washington.

Turn on the water. Make Wall Street pay.

Thousands of registered nurses, community, labor, environmental and community activists marched in Detroit today in a resounding protests against the shutoff of water to tens of thousands of city residents – an action the marchers called a wanton violation of human rights that creates a public health emergency.

Lay the blame for the manufactured crisis at the feet of those responsible: Wall Street Speculators, Gov. Rick Snyder, and Kevyn Orr

After more than four million homes foreclosed, an enduring and substantial devaluation of residences that has kept one in five American homes “under water” – worth less than their mortgages, wiping out savings, and the immeasurable hardship and harm visited upon millions of American families from the dislocation and destitution resulting, the banks that caused the financial collapse of 2008 are paying up. But this one-time pay back is not nearly enough. 

Tell me if you have seen this movie before. Washington manufactures a budget crisis, waits till the last minute to deal with it and then at the eleventh hour kicks the can down the road just to have the whole fight over again three to six months later. Rinse and repeat.

The world's greatest democracy and the richest nation on earth has been reduced to governing by crisis. Jumping from one manufactured budget crisis to another and each time holding our economic security hostage.

It doesn’t have to be like this.

AIDS patients around the world don’t have to suffer for lack of medication, and we can totally stop the spread of HIV in just 30 years.

New Yorkers and others don’t have to watch their neighborhood hospitals close.

Bus riders don’t have to despair because the only line they can take to work gets cut.

College students don’t have to graduate tens of thousands of dollars in debt with no good job prospects.

On Tuesday, September 17, we’re marching in NYC to call for a Robin Hood Tax, a tax of less than half of 1% on Wall Street trades that can raise hundreds of billions of dollars in revenue every year. Establishing this tax is simply a matter of fairness and common sense. It asks Wall Street to pay a pittance of its fair share to ensure that basic services are met in communities that need them most.

Sold on the idea that insurance to offset shifting interest rates would stabilize their finances and raise revenue, transit agencies, school districts and city governments bought “interest rate swaps,” a variety of derivative marketed and sold by Wall Street.

The U.S. Robin Hood Tax Campaign has as its goal taxing Wall Street speculative trading to raise substantial revenue, what we estimate to be $350 billion a year, to bring communities the real recovery promised but not delivered, as well as to fund international efforts for research and treatment of HIV/AIDS and to control climate change.