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Closing in on EU Financial Tax Victory


#1

Closing in on EU Financial Tax Victory

David Hillman

When I was cutting my teeth in campaigning as part of the movement to end Apartheid in South Africa in the 1980s, we were told repeatedly it could never happen. I moved on from that to another campaign that looked pretty hopeless at times but was also ultimately successful – the effort to ban landmines.

Over the past six years I’ve devoted much of my time to coordinating international advocacy for financial transaction taxes (also known as the Robin Hood Tax or Wall Street Speculation Tax).


#2

Thank you for your efforts, Mr. Hillman. This is certainly a significant step in the right direction that must be followed inside the U.S. since Wall Street has gamed the economy to its own advantages, been bailed out by workers/taxpayers, and has orchestrated a system that's allotted wealth to the tippy top of the financial pyramid with nothing trickling down.

Either the new Emperors of Versailles open the grain cellars to feed the hungry hordes outside, or perhaps the walls that protect them will be pushed in.


#3

The slowing of trading will, I think, be the most significant. Even just a 0.1% tax will take a big chunk out of the profits o speculators. Now the question is whether the police will do their job. These traders (Traitors) need to make their deals through high speed computers electronically. As we know the NSA is capable of intercepting all electronic communications especially those passing through trading centers like NYSE or CMEX. If these centers require that the trades cannot be encrypted or the encryption is made available by law to the SEC or other agency then the vast majority of these trades will be known and can therefore be taxed. Since the trade and the money is transferred electronically.it can be taxed enroute. Something like a withholding tax on the 0.01%. Something that they have managed to avoid for decades. The system can only be avoided if it is not constructed properly. I think that people world wide will see a decline in commodity prices as a result. In 2012 there were $802 TRILLION in trades on Chicago Mercantile Exchange. That is 12 times the world GDP. Every trader expected to make a profit on every trade and most did. I think as the result food prices are about double they would otherwise be.