Robin Hood: A Tax Whose Time Has Come

Robin Hood: A Tax Whose Time Has Come
April 18th 2011 / 
Robin Hood
 

In today’s Guardian, economist Ha-Joon Chang and researcher Duncan Green argue that the Robin Hood Tax is an idea whose time has come.

The tax would “slow down the most speculative elements of international capital flows and raise the significant sums needed to provide the newly required global collective goods – especially green technologies and development aid.” The article recommends the tax as part of a “comprehensive package” of measures including the abolition of tax havens and reformation of the rating agencies, which together would form a new policy of “taxing international financial flows for the public good.”

The article also comments that the benefits of a tax on financial transactions are now so widely accepted that future generations will ask what took us so long.

“Thirty, 50 years on, our children and grandchildren may be wondering how we ever thought to run the world without such tax – just as few of us can imagine how our grandparents and great-grandparents used to manage without the income tax.”

Read the article>>

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