The Robin Hood tax was proposed by U.S. politicians closely tied to the country’s largest socialist organization, WND has learned.
The Congressional Budget Office has warned the Robin Hood tax on certain financial transactions could “diminish the importance of the United States as a major financial market” and that “imposing the transaction tax would probably reduce output and employment.”
The imposition of the Robin Hood tax has been a key demand of the Occupy movement. It is heavily supported by billionaire George Soros.
Sachs’ address to Congress on Wednesday came the same day 200 advocates of the Robin Hood tax marched up Constitution Avenue in Washington D.C., reported the Communist Party USA’s online newspaper.
Sachs has been a long-time proponent of the Robin Hood tax. He is a Columbia University economist who crafted a controversial economic “shock therapy.” Sachs is a key member of the Institute for New Economic Thinking, or INET.
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Soros is INET’s founding sponsor, with the billionaire having provided a reported $25 million over five years to support INET activities.
In April 2011, Sachs keynoted INET’s annual meeting, which took place in the mountains of Bretton Woods, N.H.
The gathering took place at the Mount Washington Hotel, famous for hosting the original Bretton Woods economic agreements drafted in 1944. That conference’s goal was to rebuild a post-World War II international monetary system. The April gathering had a similarly stated goal – a global economic restructuring.
Earlier this month, Sachs faced a slew of bad publicity after the release of a new book about him titled “The Idealist: Jeffrey Sachs and the Quest to End Poverty.” In the work, author Nina Munk describes Sachs failed quest to bring financial aid to Africa via the Soros-funded Millennium Villages Project.
Forbes reported on the “more than disappointing” results of Sachs’ project as outlined in Munk’s book: “Villagers use their new mosquito nets (distributed to prevent malaria) on goats. Water-carrying donkeys drop dead. Hospital generators break down. Much-anticipated markets for banana flour and pineapple never materialize.”
Meanwhile, in April, Rep. Keith Ellison, D-Minn., reintroduced the Inclusive Prosperity Act, also dubbed the Robin Hood tax.
The act was introduced last year as the “Wall Street Trading and Speculators Tax Act” by Rep. Peter DeFazio, D-Ore.
A Senate version was also previously attempted by Sen. Bernie Sanders, I-Vt.
DeFazio was previously listed on scrubbed sections of the Democrat Socialists of America website, or DSA, as being a member. He is a founder of the Congressional Progressive Caucus, which was also founded by Sanders and originally openly partnered with the DSA.
Read more at http://mobile.wnd.com/2013/10/soros-tied-tax-advances-on-wall-street/#DB8lG4VaQLoeDWtv.99
