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OpEdNews Op Eds    H3'ed 4/17/13

A Robin Hood Response to the Austerity Lie: Tax Wall Street

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That will is growing, in the US, and abroad.

Eleven European countries -- including key US allies and trading partners -- are currently in the process of embracing financial transaction tax proposals.

There's a dawning international recognition that the answer to austerity is not merely to defend necessary programs from assaults by billionaire-funded groups such as America's "Fix the Debt" coalition -- and the politicians who defer to the pressure for cuts. It is to find the resources to maintain existing programs and to fund new initiatives.

This is something that Americans who seek to establish a genuine safety net for the ailing, the aged and the vulnerable -- as well as the whole of society -- well understand. That's why, after Ellison reintroduces his legislation, the Robin Hood Tax Campaign, National Nurses United and other supporters of a financial transactions tax will rally and march in Washington on April 20.

Their message is directed not just at Congress but at the Obama administration, which has been slow to embrace international efforts to implement the Robin Hood Tax.

They're demanding that Treasury Secretary Lew and President Obama "Stand with the People NOT Wall Street," and saying, "Wall Street banks and corporations are raking in record profits while our communities continue to suffer job losses and cuts to public programs. Instead of lining the pockets of corporate fat cats, this money should go to our children's Head Start programs, Grandma's retirement, and fixing our broken healthcare system. It's time for the administration to stand with the people and tax Wall Street."

Working America, the AFL-CIO's primary non-union offshoot, is launching a 50-state strategy. Read Josh Eidelson's report.

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John Nichols, a pioneering political blogger, has written the Online Beat since 1999. His posts have been circulated internationally, quoted in numerous books and mentioned in debates on the floor of Congress.

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