ROBIN HOOD PURSUING JOB AS TREASURY SECRETARY
Letter to President Obama today calling for sales tax on Wall Street to fund real recovery
Washington, D.C. - Robin Hood attempted to deliver his resume this morning to the Department of the Treasury, 1500 Pennsylvania Avenue, NW, in application for the position of “Secretary of Treasury, United States of America.” The position is currently held by Secretary Timothy Geithner, who is leaving the post with the country gripped by economic inequality. Blocked from submitting his resume, Robin spoke outside Treasury, where the Grinch was also present.
“If I am appointed it will mean that Wall Street didn’t win the election,” said Robin. “We need a real recovery in communities across this country, in the places still suffering after the financial collapse of 2008.” Wall Street has paid out more than ten times in bonuses than fines for misdeeds that collapsed the economy, he noted.
Robin then went to the White House where he was also stopped from submitting his resume and later he went to the Office of Personnel Management to pursue the process of applying for the top job at Treasury.
If successful in his job quest, Robin’s first act at Treasury will be to support the Robin Hood Tax, a small sales tax on Wall Street speculative trading, 50 cents per $100 in stocks, lesser rates for bonds, derivatives and currencies, expected to raise up to $350 billion a year. The sales tax is embodied in The Inclusive Prosperity Act, HR-6411, sponsored by Rep. Keith Ellison (D-MN) and 16 co-sponsors. Ellison’s bill exempts individual incomes up to $50,000 per year, $75,000 per household; supporters say it will reduce high-speed trading, make markets more stable and help cut costs of food and fuel, tied to speculation.
HR-6411 revenue is to rebuild the many communities for whom the harm of the 2008 financial collapse remains. The tax is to meet basic needs for infrastructure such as sanitation, provide jobs at living wages and retirement with dignity, clean the environment, fund quality schools and healthcare. The tax will also be used to fund international contributions to treat HIV/AIDS and for climate control efforts.
“The Wall Street tax could fund 9 million new jobs that pay more than $38,000 a year or save 1.7 million homes from foreclosure,” explained Robin. “It could fund guaranteed healthcare for all, end HIV/AIDS in a generation, stop poverty and hunger, and fund the transition to a non-fossil fuel based economy.”
In a letter to President Obama (attached), Robin Hood Tax Campaign supporters asked for his support. The letter provided, in part: “[W]e urge you to nominate a candidate for Secretary of Treasury who will (1) champion a financial transaction tax and (2) dedicate the revenue raised to fund public services that keep people and the planet healthy and whole, at home and around the world.”
More than sixty endorsers of the Robin Hood Tax Campaign signed the letter to President Obama. They include National Nurses United, Utilities Workers Union of America, Health GAP, Progressive Democrats of America, National Organization of Women, Greenpeace, Friends of the Earth, Water Aid America, Public Citizen, National People's Action Catholics United, Center for Community, Democracy and Ecology (CCDE). Communications Workers of America, Alliance for a Just Society, Main Street Alliance and Consumer Watchdog.
The Robin Hood Tax Campaign is comprised of unions, consumer and environmental groups, religious associations, health activists and others, with a combined membership in the millions. A sales tax on financial transactions is in place in more than 40 countries.