Gates backs the Robin Hood Tax at G20 Summit

The 99% and the 0.001% agree on something.  Will Harper government continue to oppose?

Cannes (4 Nov. 2011) - Microsoft founder, and the world's second-richest man, Bill Gates joined activists from around the world at the G20 Summit in Cannes, France in calling for a Financial Transactions Tax (FTT) or commonly called the Robin Hood Tax.

French President Nicolas Sarkozy asked Gates to provide the G20 leaders recommendations on how to raise funds to meet the needs of the world's poorest.  A key proposal from Gates's recommendations was for a small tax on trades of stocks, derivatives and other financial instruments - the Robin Hood Tax.

According to Gates' report, "FTTs already exist in many countries, where they generate significant revenue, so they are clearly technically feasible. According to the International Monetary Fund (IMF), 15 G20 countries have some form of securities transaction tax. In the seven countries where the IMF estimates revenue, these taxes raise an estimated $15 billion per year."

Gates, with a net worth of $59 billion, probably falls within the top 0.001% of the population was supporting the representatives of the other 99% who were on the streets outside the security perimeter.

Unfortunately, all indications are that Canadian Prime Minister Stephen Harper remains opposed to the measure and is actively campaigning against it.  

For more information:

Download: Robin Hood was Right - NUPGE

Robin Hood Tax Canada

Canadians for the Robin Hood Tax on Facebook

NUPGE

The National Union of Public and General Employees (NUPGE) is one of Canada's largest labour organizations with over 340,000 members. Our mission is to improve the lives of working families and to build a stronger Canada by ensuring our common wealth is used for the common good. NUPGE

 

 

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