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senate Bill S. 1371

Imposing a Robin Hood Tax on Trading Securities

Argument in favor

Some traders on Wall Street have gotten rich through high-frequency trades and risky, speculative investment decisions that endangered the economy. This tax would restore stability to financial markets.

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11/13/2015
“The time is long overdue for the American Congress to start listening to the needs of the American people and not just Wall Street... This is not a radical idea. Only in a Congress dominated by Wall Street and big money is this considered a radical idea." [robinhoodtax.org]
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DonaldTrump's Opinion
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11/13/2015
"I’m a pretty good Republican. But I will tell you this, I do have some differences. I don’t want to have certain people on Wall Street getting away with paying no tax.” [breitbart.com]
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AndrewGVN's Opinion
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11/13/2015
Many successful countries have established a similar tax in their stock markets (over 40 countries have implemented this type of tax.) The potential revenue from this small tax can lead to the free tuition of public colleges, which would be a HUGE benefit for the future of the young generations. Successful businessmen such as Warren Buffet and Bill Gates have strongly supported this bill to be passed, why shouldn't we pay attention to these iconic businessmen? Wall Street executives have only been fined in their part of the market crash in 2008, this tax could act also as a long-term penalty for what these corrupt executives decided to do that let the economy sink.
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Argument opposed

Speculation is an inherent part of financial markets, trying to reduce it through taxes just makes those markets work less efficiently -- which can create market distortions that this bill wants to avoid.

BTSundra's Opinion
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11/20/2015
Taxes that redistribute wealth simply take money away from people who earned it.
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Curmudgeon's Opinion
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08/18/2015
Excuse me but taxing securities transactions is a horrible idea. Investing is risk taking that provides the capital that grows the economy, but half the time it results in loss or negligible gain for the investor. If a gain it is taxed heavily in the year of redemption. Superimpose a tax for entering and leaving transactions is obscene as a concept and destructive to the economy as well.
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Brett's Opinion
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03/31/2016
This is double and triple dipping. There is already a capital gains tax. As a small time investor this would keep me from doing much investing at all.
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    “The time is long overdue for the American Congress to start listening to the needs of the American people and not just Wall Street... This is not a radical idea. Only in a Congress dominated by Wall Street and big money is this considered a radical idea." [robinhoodtax.org]
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    Taxes that redistribute wealth simply take money away from people who earned it.
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    "I’m a pretty good Republican. But I will tell you this, I do have some differences. I don’t want to have certain people on Wall Street getting away with paying no tax.” [breitbart.com]
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    Many successful countries have established a similar tax in their stock markets (over 40 countries have implemented this type of tax.) The potential revenue from this small tax can lead to the free tuition of public colleges, which would be a HUGE benefit for the future of the young generations. Successful businessmen such as Warren Buffet and Bill Gates have strongly supported this bill to be passed, why shouldn't we pay attention to these iconic businessmen? Wall Street executives have only been fined in their part of the market crash in 2008, this tax could act also as a long-term penalty for what these corrupt executives decided to do that let the economy sink.
    Like (29)
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    “Right now, student loan debt is holding us back — student by student, family by family, and as a nation, we have to do better,” [www.washingtontimes.com]
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    Excuse me but taxing securities transactions is a horrible idea. Investing is risk taking that provides the capital that grows the economy, but half the time it results in loss or negligible gain for the investor. If a gain it is taxed heavily in the year of redemption. Superimpose a tax for entering and leaving transactions is obscene as a concept and destructive to the economy as well.
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    If we tax the rich at a ridiculously high rate, they will just take their money and go where they are welcomed. Look at how it looked for businesses. Most manufacturing is done overseas because it is cheaper than in the US.
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    Stealing from the rich and giving to the poor. It's called STEALING for a reason. Just because someone is more successful than you doesn't mean they should be punished. These socialist ideas are founded on one thing: jealousy. And that is an ugly emotion.
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    Always looking for a new tax, how about looking at cutting spending!!
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    More taxes on wealth will only decrease growth and hinder our country.
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    Personally I'm all for Pigovian taxes on negative externalities coupled with a LVT. Taxing the market, while a viable means of taking it to the bankers, as it were, will also limit loans to small businesses and will do more to hurt middle income Americans than the billionaires that are so lambasted.
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    Stealing from successful people is against all that America stands for.
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    This is double and triple dipping. There is already a capital gains tax. As a small time investor this would keep me from doing much investing at all.
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    A tax of this level is so insignificant to those whom conduct, and benefit from, the trading that is would have zero negative impact on sound trading practices (nobody is going to flinch at paying $5 on a $1,000 transaction upon which they stand to make millions), yet the payoff to the American people to Wall Street paying taxes (JUST LIKE EVERYONE ELSE) is massive. This is a moment of truth; these politicians running for president, and the parties backing them, are all claiming that Wall Street needs to be taxed yet there is only one who has actually done anything about is- Bernie Sanders with the introduction of this bill. Will the others support it and fight to pass it, or will they show their true colors and vote it down then try to pass it off as being insufficient or a "bad deal"?
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    Yes! Rob from the poor too give to the Rich US Gov. Sounds like a plan.
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    We have a rigged economy that benefits the rich and does harm to the poor. We need to help people that are born into a disadvantage.
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    No
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    Simplify the tax code
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    Investment spending drives the economy
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    "Robin Hood" Tax is an oxymoron, because Robin Hood's penchant wasn't stealing from the rich, but stealing from the government that was overtaxing the whole populace, much like ours is. Instead of taxing production let's tax consumption
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