Song A Day #419: The Robin Hood Tax

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Jonathan Mann

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Published on February 24, 2010 4:57:20 AM ● Video Link: https://www.youtube.com/watch?v=x9yh9Sfw47A

Duration: 2:26

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have you heard this joke? it's funny.
about a system out of whack
how the banks all took our money
and we're trying to get it back
trying to get it back
but the banks all drag their heels
just like we knew they would
it's time that we got real
it's time for Robin Hood

It's the Robin Hood tax
Do the Robin Hood dance
Also known as the Financial Transaction Tax
Some people call it FTT for short

all over the world
hundreds of thousands of times a day
financial assets are traded
the robinhood tax, taxes these trades

like stocks, bonds and foreign exchange
traded both physically and as derivatives
options, forwards, futures and swaps
we're talking speculative banking
so it won't effect you or me

it's the Robin Hood tax
do the Robin Hood dance
make the Robin Hood face
yeah

the rate of the tax would be
between .5% and .005%
and implemented globally
would raise 400 billion every yera