“In other places, it is known as a ‘Robin Hood Tax’ and ‘Tobin tax,’ named for Nobel laureate James Tobin, who proposed in the early 1970s a tax on currency conversions. …A scaled-back tax of 1% would raise more than $200 billion, according to Americans For Financial Reform.”

AFR authored a letter in support of the Wall Street Trading and Speculators Tax Act of 2011 introduced by Senator Harkin and Representative DeFazio.

AFR sent a letter to President Obama and Secretary Geithner asking that they urge the Super Committee to support a financial transaction tax.

Read our letter supporting a financial transaction tax here, or below.
—————————————————————————————–
October 21, 2011
Representative Jeb Hensarling
129 Cannon House Office Building
Washington DC 20515
 
Senator Patty Murray
448 Russell Senate Office Building
Washington DC 20515
 
Re: Financial Speculation Tax
Dear Senator Murray and …

An AFR congressional briefing regarding how a small tax on financial transactions could raise tens of billions of dollars a year and curb dangerous high speed trading.

Read about the Global Day of Action for a Financial Transactions Tax here.