Nations Push For “Robin Hood” Tax From “Rich” Nation (Including U.S.) To Poor Nations.

By: Don Caldwell


What goes around comes around.


Many nations (as well as many other organizations) have been pushing for a tax that would bring the wealth of wealthier nations to poorer nations.


Many of the wealthier nations have argued against this (especially given the current economic troubles they have been facing).


There are also the various ethical and practical effects to consider.


Excerpts italicized:


As President Obama huddles with world leaders for the G-20 summit in South Korea to weigh proposals aimed at stabilizing the global economy , one idea being pushed is a so-called "Robin Hood tax," aimed at collecting money from rich nations to give to the poor.


The Robin Hood tax -- a global financial transaction fee that could raise hundreds of billions of dollars to pay the cost of the global financial crisis and support developing nations struggling to recover -- is not popular


Still, the tax's supporters, which include unions, environmental groups, Comic Relief, UNICEF and others in a multinational coalition, say the tax could go to canceling debt from poor nations. Or it could be used for social programs to fight hunger, diseases such as HIV/AIDS and malaria or other causes, programs to which the United States and other nations already donate billions.


But critics say the proposal would kill businesses and job growth in the U.S. They note that Obama doesn't even have the authority to tax U.S. businesses to pay for a global fund.


"We support the goal of helping distressed nations, but feel that the tax would harm the economic recovery of the other countries," said Scott Talbott, a lobbyist with the Financial Services Roundtable, which advocates for large financial firms.

So many support a system that takes from those more” fortunate” and gives to the less” fortunate”. We have such an ability to justify spending other peoples’ money. What happens when you become the one who is more “fortunate”?


Does it still seem fair? Should one be punished for having more? What if you are born into it?
Being American means that we as a people are wealthier than almost anyone on earth. What would happen in the community of nations we call earth (or the U.N.) decide that we must give 20% of what we earn to the poorer nation?


They have the same right to do that as the poorer Americans have to ask the higher income brackets to pay an extra 10 or 20 percent in taxes.


There is always someone that has more than you, and there is always someone that has less than you. Those that have go to great lengths to protect what they have. Some may call it greed, and sometimes it is. But what happens when that rich person you always envisioned is you…a middle class American with credit card bills, kids in college, and a mortgage. Because guess what, you ARE rich when you compare it to 95% of the world.


Could we afford it? Where would the money come from? Do you have the necessary know how to to choose where the money comes from when our own government can’t? Especially considering our budget is very much in deficit to begin with (i.e. The nation does not have enough money to pay for what we have. Just like so many families in debt today)


We should not be hypocrites, what you believe is right in this country (in regard to how the rich should pay more in taxes) also applies to how America pays towards other countries.

Rich Nations Urged to Weigh 'Robin Hood' Tax to Help Poor - FoxNews.com