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FBN's Liz MacDonald on the 'Robinhood Tax' which would collect on transactions of $10,000 and higher, and give the money to the poor.
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With anger against banks ranging around the world the so called Robin the tax on investment trades is gaining support from every one from the Pope to Bill Gates.
Liz MacDonald's here of course that is very strange story that brings together -- the -- -- Al Gore and all sorts of strange.
People.
Lol yeah that's fresh -- an interest in crew here backs the Robin Hood tax.
And here's how it works it basically would be anywhere from a three dollar to a ten dollar tax.
On transactions that would amount to 101000 more CC here 101000 tax for 101000 dollars -- transactions it did go slow with three dollars these are some of the Jetsons that have been on the table.
-- -- be stocks.
Bonds derivatives you name it and in the president had wanted this as a violent talk about 2009.
-- -- -- back now what's the problem with this tax they would be passed on to investors even pension funds.
And those pension funds to owned by unions who now want the Robin Hood tax ironically and -- owners -- to his job losses it could create job losses in the financial sector.
That's why the White House is now and Britain are remain somewhat opposed.
To enacting a -- That's how continue call this a Robin attacks when it's going from one net.
Rich entity to another rich and -- yeah that's right and who would commission -- -- and other investment firms they are not the pour.
That's right and who would.
Who would collect them.
Would the tax go to Paper bureaucrats to collect it right.
Severe situation Ronnie who wants attacks who supporting it and -- named an important point at the beginning and who supports a -- lookalike sit besides the poll.
And Bill Gates -- gonna see in here George Soros.
Is C Al Gore and -- numbers among the few that you get a they have a lot of money in there all out there saying I'm I can -- we -- out there are -- right but the Pope at Pope.
And also uncle -- -- has said he says she supports that the archbishop of Canterbury and hair Ralph Nader.
You know now Nicholas Sarkozy needs yet and likely -- so you know optimism -- should -- important point.
That gentleman who invented an economy.
Invented the Robin Hood Texas public Tobin tax -- seventies James Tobin.
And he said look at I don't want to be used to create jobs -- -- government debt I really wanted to chase who -- speculators in the currency markets.
And it's sort of -- down volatility after the dollar was decouple from -- early seventy's so now he you know essentially that the Robin attacks by the way.
To congressman -- that's -- risen deposit as sir Tom Harkin.
Have put forward a Tobin tax meaning of -- attacks means to be seen whether it will get an active weather gets any momentum that's right thank you very much sure.
