Tally ho! Backed by 62 organizations, Robin Hood seeks top Treasury post
Posted Dec. 21, 2012 / Posted by: Karen Orenstein
Robin Hood, a champion of ordinary people, made a stop in Washington, D.C. this week -- to put his hat in the ring to replace outgoing U.S. Treasury Sectary Tim Geithner, a champion of Wall Street. Mr. Hood is running on a platform of taxing Wall Street greed to pay for global need.
Throughout the duration, Robin Hood carried with him a letter to President Obama endorsed by 62 groups representing unions, religious associations, health activists, and consumer, development and environmental groups. The letter urged Obama “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.” (A copy of the letter can be found below.)
Organizations on the letter included Friends of the Earth U.S., National Nurses United, National Organization for Women, Utilities Workers Union of America, Public Citizen, Conference of Major Superiors of Men, Health GAP, Progressive Democrats of America, Main Street Alliance, ActionAid USA, Greenpeace, Food & Water Watch, National People's Action, Catholics United, Asian Pacific American Labor Alliance, and Communications Workers of America.
A last-ditch effort to submit an application at the Office of Personnel Management.
Congratulations on your re-election. As you prepare your cabinet for your second term, we 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.
Also known as a Robin Hood Tax, a financial transaction tax would levy a minuscule fee on financial transactions involving stocks, bonds, currency, and derivatives. This would generate hundreds of billions of dollars of new revenue to pay for desperately needed public goods -- like funds to help developing countries deal with climate change, provide healthcare and education for all, and help end the AIDS pandemic. Such taxes would also discourage the high frequency trading that, according to a recent report by the chief economist of the Commodity Futures Trading Commission, is hurting traditional investors.
This is a particularly important time for a fresh approach, now that many of our nation’s closest economic partners are moving forward on this issue. A group of 11 European countries has committed to implementing a coordinated financial transaction tax. One of them, France, has announced that a portion of its FTT-generated revenue will go toward climate and development.
By championing a Robin Hood Tax, a new Treasury Secretary would help advance your goals of strengthened international financial coordination, fair taxation, and meeting the needs of ordinary people.
We look forward to working with you to make the Robin Hood Tax a reality in your second term. We would be pleased to meet with you and your representatives to discuss these matters at your earliest convenience.
Thank you for your consideration.
ActionAid USA AIDS Foundation of Chicago Alliance for a Just Society American Income Life Asian Pacific American Labor Alliance Catholics United Center for Biological Diversity Center for Community, Democracy and Ecology Center for Economic and Social Rights Center for Health and Gender Equity Chicago Political Economy Group Communications Workers of America Conference of Major Superiors of Men Consumer Watchdog EcoEquity Farm Labor Organizing Committee Food & Water Watch Foreign Policy in Focus Foundation Earth Franciscan Action Network Friends of the Earth US GADVBE Gender Action Global Alliance for Incinerator Alternatives Global Economy Project, Institute for Policy Studies Government Accountability Project Grassroots Global Justice Alliance Green Delaware Greenpeace Health GAP HIV Prevention Justice Alliance Holy Cross International Justice Office Institute for Agriculture and Trade Policy International Forum on Globalization International Rivers Jubilee USA Network Labor Network for Sustainability Left Labor Project Main Street Alliance Maryknoll Office for Global Concerns National Nurses United National Organization for Women National People's Action Neighborhood Economic Development Advocacy Project New Rules for Global Finance Northside P.O.W.E.R Oil Change International People Project Polis-tics, Inc Progressive Democrats of America Public Citizen Rainforest Action Network Right to the City Sisters of St. Francis of Philadelphia Sisters of the Holy Cross Congregation Justice Committee Strong Economy For All Coalition Tax Justice Network USA United Electrical Radio and Machine Workers of America Utility Workers Union of America VOCAL New York WaterAid in America Wealth for the Common Good