Robin Hood is alive and well (26)
vinny1967: The Robin Hood Tax campaign started as an idea. People loved it. We became a movement. And we're still growing.
We're committed to reducing poverty and tackling climate change by taxing financial transactions.
We believe it's time to rewrite the contract between banks and society.
We are charities, green groups, trade unions, celebrities, religious leaders and politicians.
We are world leaders – President Sarkozy of France, Chancellor Merkel of Germany, Prime Minister Zapatero of Spain, among others.
We are businesspeople – FSA Chairman Lord Turner, financier George Soros, entrepreneur extraordinaire Warren Buffet.
We are economists – Nobel Prize winners Joseph Stiglitz and Paul Krugman, Earth Institute Director Jeffrey Sachs and 350 other economists from across the world.
We are 232,000 Facebook friends, and tens of thousands of people taking action around the UK. We are over 115 organisations, including charities like Oxfam, Barnardo’s and Friends of the Earth, all the major trade Unions and faith organisations such as the Salvation Army.
We are part of a movement of campaigns in more than 25 countries around the world with millions of supporters.
We are a force to be reckoned with, and we're demanding justice.
Are you?
Taken from
a great Idea
We're committed to reducing poverty and tackling climate change by taxing financial transactions.
We believe it's time to rewrite the contract between banks and society.
We are charities, green groups, trade unions, celebrities, religious leaders and politicians.
We are world leaders – President Sarkozy of France, Chancellor Merkel of Germany, Prime Minister Zapatero of Spain, among others.
We are businesspeople – FSA Chairman Lord Turner, financier George Soros, entrepreneur extraordinaire Warren Buffet.
We are economists – Nobel Prize winners Joseph Stiglitz and Paul Krugman, Earth Institute Director Jeffrey Sachs and 350 other economists from across the world.
We are 232,000 Facebook friends, and tens of thousands of people taking action around the UK. We are over 115 organisations, including charities like Oxfam, Barnardo’s and Friends of the Earth, all the major trade Unions and faith organisations such as the Salvation Army.
We are part of a movement of campaigns in more than 25 countries around the world with millions of supporters.
We are a force to be reckoned with, and we're demanding justice.
Are you?
Taken from
a great Idea
I was e mailed a couple of years ago to sign up to this. It's a fantastic idea.
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vinny1967: The Robin Hood Tax campaign started as an idea. People loved it. We became a movement. And we're still growing.
We're committed to reducing poverty and tackling climate change by taxing financial transactions.
We believe it's time to rewrite the contract between banks and society.
We are charities, green groups, trade unions, celebrities, religious leaders and politicians.
We are world leaders – President Sarkozy of France, Chancellor Merkel of Germany, Prime Minister Zapatero of Spain, among others.
We are businesspeople – FSA Chairman Lord Turner, financier George Soros, entrepreneur extraordinaire Warren Buffet.
We are economists – Nobel Prize winners Joseph Stiglitz and Paul Krugman, Earth Institute Director Jeffrey Sachs and 350 other economists from across the world.
We are 232,000 Facebook friends, and tens of thousands of people taking action around the UK. We are over 115 organisations, including charities like Oxfam, Barnardo’s and Friends of the Earth, all the major trade Unions and faith organisations such as the Salvation Army.
We are part of a movement of campaigns in more than 25 countries around the world with millions of supporters.
We are a force to be reckoned with, and we're demanding justice.
Are you?
Taken from
a great Idea
George Soros?We're committed to reducing poverty and tackling climate change by taxing financial transactions.
We believe it's time to rewrite the contract between banks and society.
We are charities, green groups, trade unions, celebrities, religious leaders and politicians.
We are world leaders – President Sarkozy of France, Chancellor Merkel of Germany, Prime Minister Zapatero of Spain, among others.
We are businesspeople – FSA Chairman Lord Turner, financier George Soros, entrepreneur extraordinaire Warren Buffet.
We are economists – Nobel Prize winners Joseph Stiglitz and Paul Krugman, Earth Institute Director Jeffrey Sachs and 350 other economists from across the world.
We are 232,000 Facebook friends, and tens of thousands of people taking action around the UK. We are over 115 organisations, including charities like Oxfam, Barnardo’s and Friends of the Earth, all the major trade Unions and faith organisations such as the Salvation Army.
We are part of a movement of campaigns in more than 25 countries around the world with millions of supporters.
We are a force to be reckoned with, and we're demanding justice.
Are you?
Taken from
a great Idea
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yes blame the banks for the state deficits.It is not the corrupt politicians filling their pockets.
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Conrad73: George Soros?
He is the Sheriff Of Nottingham!One of the Movers of the Crap we're in today!
That goes for Buffet and his Speculations as well.
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Conrad73: He is the Sheriff Of Nottingham!
One of the Movers of the Crap we're in today!
That goes for Buffet and his Speculations as well.
One of the Movers of the Crap we're in today!
That goes for Buffet and his Speculations as well.
He is a very rich man because of speculation alright but he has given a lot back...More than can be said for the other people!!
Soros has been active as a philanthropist since the 1970s, when he began providing funds to help black students attend the University of Cape Town in apartheid South Africa, and began funding dissident movements behind the iron curtain.
Soros' philanthropic funding includes efforts to promote non-violent democratization in the post-Soviet states. These efforts, mostly in Central and Eastern Europe, occur primarily through the Open Society Institute (OSI) and national Soros Foundations, which sometimes go under other names (such as the Stefan Batory Foundation in Poland). As of 2003, PBS estimated that he had given away a total of $4 billion. The OSI says it has spent about $500 million annually in recent years.
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Conrad73: He is the Sheriff Of Nottingham!
One of the Movers of the Crap we're in today!
That goes for Buffet and his Speculations as well.
One of the Movers of the Crap we're in today!
That goes for Buffet and his Speculations as well.
Yep Con, as are a lot of other people. It doesn't mean they are wrong to support this though.
Another excerpt from the site.
WHY TAX THE FINANCIAL SECTOR?
Because it's responsible for a big part of the mess we're in.
Because it has an obligation to all of us to help clear it up.
Because it is the most profitable industry on earth, 26 times more profitable than the average business.
Because it is under taxed - so it can afford to do so. A tiny tax on the financial sector could generate £20 billion annually in the UK alone. That's enough to protect schools and hospitals. Enough to stop massive cuts across the public sector. Enough to transform lives around the world – and to deal with the new climate challenges our world is facing.
Because so far, the cost of the financial crisis to the UK economy, as calculated by the International Monetary Fund, is that UK government debt will be 40% higher. That 40% equates to £737 million pounds, or £28,000 pounds for every taxpayer in the country. Having to pay back that debt means cuts in vital services on which millions of people around the country rely.
Because according to the Bank of England, the fact that the government will not let the big banks go bust means that they effectively get a subsidy of £100 billion pounds from the UK tax payer each year. But the banks have already started to report record profits and pay themselves enormous bonuses once again. The 2010 bonus pot for the UK is 6 billion pounds, enough to pay the salaries of 340,000 nurses in the UK, or provide free healthcare for 250 million people in developing countries.
Because the IMF and many other financial commentators believe that the financial sector is under taxed, and has grown to become dangerously large and destabilising for the global economy, as we saw when the crisis hit in 2008. FSA Chairman Lord Turner has described a portion of the financial sector as ‘socially useless’.
Because it's time for the financial sector to make a greater contribution to the society it serves.
A lot of rhetoric in there but I do agree with the main thrust of it.
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nobody did but countries lived beyond their means and that was a political decision.Housing bubbles made possible by low ECB and FED rates (again a political decission).
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vinny1967: I presume your replying to my question so I'll answer anyway
Politicians are corrupt and Governments cow towing to big business is not news to me. Unfortunately we think we live in democracies where one person, one vote actually counts, but we know that aint the truth. Joe Soaps vote doesnt mean diddly when politicains are elected, and thats when big business and the well funded lobbyists take over. So yes I'm agreeing that politicains are corrupt and need to be held more accountable to the people they represent and are elected by.
But this thread isn't about that. Its about a proposal for a tax on banks, a very small one, that will help those less fortunate. A tiny percentage is not too much to ask for the bailouts and protection that Governments have given them IMO. It can't be all about greed.
Politicians are corrupt and Governments cow towing to big business is not news to me. Unfortunately we think we live in democracies where one person, one vote actually counts, but we know that aint the truth. Joe Soaps vote doesnt mean diddly when politicains are elected, and thats when big business and the well funded lobbyists take over. So yes I'm agreeing that politicains are corrupt and need to be held more accountable to the people they represent and are elected by.
But this thread isn't about that. Its about a proposal for a tax on banks, a very small one, that will help those less fortunate. A tiny percentage is not too much to ask for the bailouts and protection that Governments have given them IMO. It can't be all about greed.
It's a great idea...Woulddn't work in Ireland though cause all the banks are broke!!!!
The Irish people own them all now and we want out billions back before anyone else gets dibs!------ This thread is Archived ------
shotstopper: It's a great idea...Woulddn't work in Ireland though cause all the banks are broke!!!! The Irish people own them all now and we want out billions back before anyone else gets dibs!
Yeah I'd imagine there's a very long queue
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Vinny... great idea btw, nice to know some are thinking about the other 95%. 
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but what is the point of a bank tax that in the end will be payed by the consumer ?
gininitaly: Vinny... great idea btw, nice to know some are thinking about the other 95%.
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Maybe the bankers could take a cut in salary and bonuses Deus?
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yes perhaps it should but why does nobody has a problem with a football players who earns about 10 times what a CEO makes?
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bread and games.
but many teams have very large deficits and debt to society.In the end the taxpayer will have to pay that bill also.BTW there are more highly paid sport figures then highly paid CEO's.
how many big banks in the UK and how many just football stars in the UK?
but many teams have very large deficits and debt to society.In the end the taxpayer will have to pay that bill also.BTW there are more highly paid sport figures then highly paid CEO's.
how many big banks in the UK and how many just football stars in the UK?
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I have no idea... I don't watch or follow football. 
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But found this:
"An analysis by The Wall Street Journal found that pay and benefits at the top 25 publicly traded banks and security firms on Wall Street hit a record of $135.5 billion."
http://blogs.wsj.com/deals/2010/03/25/credit-suisse-ceo-is-worlds-2nd-highest-paid-banker-seriously/
"An analysis by The Wall Street Journal found that pay and benefits at the top 25 publicly traded banks and security firms on Wall Street hit a record of $135.5 billion."
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the best bank to get paid is goldman sachs.Goldman Sachs employee makes $622,000 on average.
gininitaly: But found this:
"An analysis by The Wall Street Journal found that pay and benefits at the top 25 publicly traded banks and security firms on Wall Street hit a record of $135.5 billion."
http://blogs.wsj.com/deals/2010/03/25/credit-suisse-ceo-is-worlds-2nd-highest-paid-banker-seriously/
"An analysis by The Wall Street Journal found that pay and benefits at the top 25 publicly traded banks and security firms on Wall Street hit a record of $135.5 billion."
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yes and aren't we lucky?Almost all of them pay more then 50 percent taxes or 67 Billion of the 135 Billion goes to father state
gininitaly: Then it looks like it takes a lot of $622,000s to make a $135 billion doesn't it?
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Now, let's consider somebody like Warren Buffet (only less wealthy) who made most of his money by investing in the stock market. Let's assume that Richie Rich made $1 million in the same tax period. We'll even be generous and assume that a good chunk of that came from a high paying day job: say, $150,000 a year. Let's assume that another $300,000 came from short term capital gains (which, again, is taxed like earned income). The remaining $550,000 came from long term capital gains - he bought stock or real estate, held onto it for 12 months or more, then sold it.
FYI
"On his earned income and short term gains, his tax bill would look like this:
$5840.4 for Social Security (remember, only the first $94,200 is taxable here)
$2731.8 for Medicare (again, only the first $94,200 is taxable here)
$755 for the first $7550 of his income
$3465 for the next $23,100 of his income
$10,887 for the next $43,550 of his income
$22,568 for the next $80,600 of his income
$59,977.50 for the next $181,750 of his income
$39,707.50 for the last $113,450 of this income type
Total Earned Income/Short Term Gains taxes (the first $450,000 of income): $145,932.20
However, the last $550,000 of his income is long term capital gains, so it's only taxed at 15%, for a total of $82,500.
Stop right there before I even compute the total. The first $450,000 of his income cost him almost $150,000 in taxes. The last $550,000 cost him less than $85,000 in taxes. The second group was 22% more income, yet cost him 43% less in taxes.
Add the totals together and you get $228,432.20 in total taxes - a hefty tax bill, to be sure. But it's only 22.8% of his total income - dramatically less than poor Joe Schmoe above."
FYI
"On his earned income and short term gains, his tax bill would look like this:
$5840.4 for Social Security (remember, only the first $94,200 is taxable here)
$2731.8 for Medicare (again, only the first $94,200 is taxable here)
$755 for the first $7550 of his income
$3465 for the next $23,100 of his income
$10,887 for the next $43,550 of his income
$22,568 for the next $80,600 of his income
$59,977.50 for the next $181,750 of his income
$39,707.50 for the last $113,450 of this income type
Total Earned Income/Short Term Gains taxes (the first $450,000 of income): $145,932.20
However, the last $550,000 of his income is long term capital gains, so it's only taxed at 15%, for a total of $82,500.
Stop right there before I even compute the total. The first $450,000 of his income cost him almost $150,000 in taxes. The last $550,000 cost him less than $85,000 in taxes. The second group was 22% more income, yet cost him 43% less in taxes.
Add the totals together and you get $228,432.20 in total taxes - a hefty tax bill, to be sure. But it's only 22.8% of his total income - dramatically less than poor Joe Schmoe above."
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Created: Apr 2011
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The Robin Hood Tax campaign started as an idea. People loved it. We became a movement. And we're still growing.
We're committed to reducing poverty and tackling climate change by taxing financial transactions.
We believe it's time to rewrite the contract between banks and society.
We are charities, green groups, trade unions, celebrities, religious leaders and politicians.
We are world leaders – President Sarkozy of France, Chancellor Merkel of Germany, Prime Minister Zapatero of Spain, among others.
We are businesspeople – FSA Chairman Lord Turner, financier George Soros, entrepreneur extraordinaire Warren Buffet.
We are economists – Nobel Prize winners Joseph Stiglitz and Paul Krugman, Earth Institute Director Jeffrey Sachs and 350 other economists from across the world.
We are 232,000 Facebook friends, and tens of thousands of people taking action around the UK. We are over 115 organisations, including charities like Oxfam, Barnardo’s and Friends of the Earth, all the major trade Unions and faith organisations such as the Salvation Army.
We are part of a movement of campaigns in more than 25 countries around the world with millions of supporters.
We are a force to be reckoned with, and we're demanding justice.
Are you?
Taken from
What a great Idea