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Friday, November 1, 2013

George Soros & The Robin Hood Tax

George Soros-funded economist Jeffrey Sachs this week briefed members of Congress on the so-called Robin Hood tax, which calls for a small fee on Wall Street trades.

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.

Read more at http://www.wnd.com/2013/10/soros-tied-tax-advances-on-wall-street/#HzbP0HrAPjrkpjyD.99

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George Soros was born in Budapest, Hungary, in 1930. His father was taken prisoner during World War I and eventually fled from captivity in Russia to reunite with his family in Budapest. Soros was thirteen years old when Hitler's Wehrmacht seized Hungary and began deporting the country's Jews to extermination camps. In 1946, as the Soviet Union was taking control of the country, Soros attended a conference in the West and defected. He emigrated in 1947 to England, supported himself by working as a railroad porter and a restaurant waiter, graduated in 1952 from the London School of Economics, and obtained an entry-level position with an investment bank.

In 1956, Soros immigrated to the United States, working as a trader and analyst until 1963. During that time, he developed his own theory of markets called 'reflexivity', which he has laid out in his recent books THE ALCHEMY OF FINANCE and THE CREDIT CRISIS OF 2008 AND WHAT IT MEANS. In 1967 he helped establish an offshore investment fund; and in 1973 he set up a private investment firm that eventually evolved into the Quantum Fund, one of the first hedge funds, through which he accumulated a vast fortune.