Robin Hood Tax: PDA Tucson urges Barber to find his progressive side
by Pamela Powers Hannley
Each month, Progressive Democrats of America (PDA) members across the country visit their Congressional representatives and urge them to back progressive legislation. PDA Tucson visited Congressman Ron Barber's office today– the third time since he was elected.
One of the most important steps that Barber could take to help Arizona's economy and the country's would be to co-sponsor the so-called "Robin Hood Tax", which has now been introduced into the Congress as the Inclusive Prosperity Act (HR 6411) by Congressman Keith Ellison, co-chair of the Progressive Caucus (pictured above with Karen Higgins, vice president of National Nurses United). The Robin Hood Tax is a financial transaction tax on Wall Street.
From National Nurses United:
New York – The U.S. Robin Hood Tax Campaign today applauded the introduction in Congress of a bill that would impose a tax on Wall Street speculation. Introduced by Rep. Keith Ellison, HR 6411, the Inclusive Prosperity Act, would raise up to $350 billion in annual revenues that would be used to breathe new life into Main Street communities across America, as well as international health, sustainable prosperity and environmental programs.
The legislation embodies the Robin Hood Tax, a 0.5% tax on the trading of stocks, 50 cents on every $100 of trades, and lesser rates on trading in bonds, derivatives and currencies. It marks the return of a sales tax on financial transactions in place from 1914 to 1966 and targets the high-risk, high-speed trading that dominates the markets.
The letter PDA Tucson delivered to Barber today is after the jump. If you think Barber should co-sponsor the Robin Hood Tax, contact him by following this link.