News from France: Conservative President Nicolas Sarkozy announced this weekend that he would take the lead in introducing a Financial Transaction Tax in his country.
Referring to the tax as a “moral issue” and blaming deregulation and speculation for the global economic crisis, Sarkozy has said financial traders must “repay for the damage they have caused.”
Sign here to call on President Obama to show the same leadership in the U.S. by pushing for a tax on Wall Street transactions.
Nicknamed “the Robin Hood tax,” a Financial Transaction Tax is endorsed by everyone from conservative European presidents to the Pope and Archbishop of Canterbury to Bill Gates and Ralph Nader. (The tax is tiny per transaction and hardly felt by middle-class investors or their pensions -- while raising big bucks from high-volume investors and reducing speculation.)
French President Sarkozy keeps explaining that a small transaction tax raises billions for countries facing deficits. So should President Obama in our country.
President Sarkozy has invoked the “moral issue” of financial institutions repairing damage they caused. So should President Obama, in reference to Wall Street.
After failing to get resistant allies among Eurozone countries to join him, Sarkozy is taking the lead. So should Obama, no matter what a resistant Congress thinks.
Click here to tell President Obama that now is the time for a Wall Street transaction tax.
A new book reveals that Obama once embraced the tax at a White House meeting and said: “We are going to do this!”
Financial Transaction Tax bills were introduced last year in both the U.S. Senate and House, with Rep. John Conyers’ bill taxing Wall Street to fund new jobs programs.
Last year, RootsAction collected 50,000 signatures in support of this type of tax. Sign here so Obama feels enough heat from below to counter the pressure from Wall Street donors NOT to act.
Conservative President Sarkozy is facing an uphill reelection battle this year and knows this is a popular tax.
Facing reelection, shouldn’t allegedly liberal President Obama know this, too?
Please forward this message widely.
-Jeff, Aimee, David
and the RootsAction team
P.S. Our small staff is supported by contributions from people like you; your donations are greatly appreciated.
“Financial Transaction Tax Sparks Hopes That Obama Will Play Robin Hood In 2012” (HuffingtonPost)
“France Prepared to Go It Alone on Robin Hood Tax”