By John Ballard
Via Katrina vanden Heuvel we learn of the next direct action from OWS.
On October 29th, as the Presidents and Leaders of the Group of 20 Nations meets in France, people across the world will rise up and demand that our G20 leaders immediate impose a 1% #ROBINHOOD tax on all financial transactions and currency trades.
- Financial Speculation Tax: This tax, less than one percent, would tax short term and often speculative activity- the sort of thing that helped create the crisis- and generate billions of dollars of revenue. For ordinary investors, the cost would barely be noticeable, but for Wall Street traders� activities, it is estimated that such a tax could generate up to $150 billion a year.
- Fairness in Taxation: Not in our nation�s history since before the New Deal have those with the most contributed the least. During the Eisenhower and Kennedy administrations at the heart of America�s greatest economic boom, marginal tax rates were 90% on the wealthiest among us. The marginal tax rates must be raised across the board and tax avoidance like the �carried interest� or �hedge-fund managers�� loophole must be closed.
- Bush Tax cuts for he wealthiest should expire: Over $700 billion dollars in revenue would be generated in the next ten years by allowing these tax cuts to run their course. Income growth over the last thirty years has largely been captured by the top one percent of earners. Tax cuts for the wealthy, as demonstrated above, do not make their way into the economy as a whole and do not create jobs. Everyday people, Wall Street, Big Banks and the wealthy must all pay their fair share for our economic recovery.
New rule: If you don't know what a
paradiddle is or can't perform one at
varying speeds, stay out of the drum circle.
If you need a tutorial, here is a link to a You Tube instruction video.
"What's a drum circle?"
If you don't already know, you have You Tube homework to do. Notice how old some of these videos are. They've been around for years. But OWS is giving them new life. Think of them as the new frisbee.