robin-hood-no-thanks

Robin Hood? No, thanks

Taxing speculative financial trades to fund social spending is an idea that has intuitive appeal to most people, except market participants.
 Kevin Costner in the 1991 film Robin Hood -- Prince of Thieves
Kevin Costner in the 1991 film Robin Hood -- Prince of Thieves

If Robin Hood were alive today, he might be pointing his longbow at FinanceAsia readers, who have rejected proposals to tax financial markets and give to the needy.

In last week's web poll, respondents voted two to one against a so-called Robin Hood tax -- a proposed 5bp levy on speculative financial transactions that would be used to help the world's poor and to fight climate change.

The campaign proposing the tax is organised by a coalition of non-profit groups and NGOs, who argue that the massive bailout of financial institutions around the world has diverted governments from spending money on healthcare, education and other important social initiatives, and will ultimately impose...

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