France Shows the Way - Tax Wall Street

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 below 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.) 

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.

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?