A Robin Hood for Wall Street

With the opening of the G20 Summit in Cannes, France today, an idea that’s been around for awhile is in the news again and gaining more attention as a result of the #OWS movement: The so-called “Robin Hood tax,” a minimal tax on all financial transactions with the resulting revenue dedicated to anti-poverty programs….Archbishop of Canterbury Rowan Williams, in his response to the occupation of St. Paul’s Cathedral in London, endorsed the Vatican proposals. Williams observed that ”people are frustrated beyond measure at what they see as the disastrous effects of global capitalism,” and urged a full debate on “a Financial Transaction Tax … or, popularly, a ‘Robin Hood Tax.’”