The RHT would be a tax on currency exchanges and financial institutions throughout the world.
"In a global economy wracked by speculation and rapid-fire trading, the ‘Robin Hood’ tax would tame the profit-driven speculation that has made our world financial markets so volatile. It would curb short-sighted trading practices that move trillions of dollars each day, generating huge profits for a tiny few without reinvestment in social services, infrastructure and other necessities for the global 99 percent. By taxing these financial transactions, money could be funneled into critical social services such as health care and education.
The practices of traders and speculators in global markets have also turned basic rights like food, water, health care and education into commodities, pushing these resources out of reach for many of the world’s people. For example, this year’s famine in the Horn of Africa is in part the result of rampant speculation on grains—the world’s staple food."
"In a global economy wracked by speculation and rapid-fire trading, the ‘Robin Hood’ tax would tame the profit-driven speculation that has made our world financial markets so volatile. It would curb short-sighted trading practices that move trillions of dollars each day, generating huge profits for a tiny few without reinvestment in social services, infrastructure and other necessities for the global 99 percent. By taxing these financial transactions, money could be funneled into critical social services such as health care and education.
The practices of traders and speculators in global markets have also turned basic rights like food, water, health care and education into commodities, pushing these resources out of reach for many of the world’s people. For example, this year’s famine in the Horn of Africa is in part the result of rampant speculation on grains—the world’s staple food."
