Global 'Robin Hood' Tax Idea to Be Pushed at G-20 Summit

[Middleman]

I thought rich nations already helped out poor nations? We've basically created permanent welfare nations with some of our current policies of assistance. We've helped fuel population growth in poor nations, with generations being dependent on international relief, while continuing to have children at a higher rate than their benefactors. And, as always happens, the poorer peoples end up resenting the more well off, and turning on them.

Rich Nations Urged to Weigh 'Robin Hood' Tax to Help Poor - FoxNews.com

As President Obama huddles with world leaders for the G-20 summit in South Korea to weigh proposals aimed at stabilizing the global economy, one idea being pushed is a so-called "Robin Hood tax," aimed at collecting money from rich nations to give to the poor.

The Robin Hood tax -- a global financial transaction fee that could raise hundreds of billions of dollars to pay the cost of the global financial crisis and support developing nations struggling to recover -- is not popular.

While Britain, France and Germany have championed a bank tax for all G-20 nations, finance chiefs from the industrialized nations shot down the idea at a previous summit held in Toronto last summer.

Still, the tax's supporters, which include unions, environmental groups, Comic Relief, UNICEF and others in a multinational coalition, say the tax could go to canceling debt from poor nations. Or it could be used for social programs to fight hunger, diseases such as HIV/AIDS and malaria or other causes, programs to which the United States and other nations already donate billions.

 

[MelissaD]

Because as we all know, all those african dictators haven't pocketed enough of our money already.

 

[Mr.Fitnah]

Sounds like a plan to cause revolt so someone can crack down.