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NOW Supports Robin Hood Tax
April 17, 2013
The National Organization for Women is proud to announce its support of The Inclusive Prosperity Act, a financial transaction tax introduced today by Rep. Keith Ellison, D-Minn. The Ellison bill would create a Wall Street sales tax, providing hundreds of billions of dollars in revenue every year for such critical needs as jobs, health care, education, housing assistance for low-income individuals, and expanding and improving the social safety net.
"It's about time Wall Street started paying its fair share," said NOW President Terry O'Neill. "The people of this country are still struggling to get by, six years after the economic downturn began. Women are disproportionately represented amongst the poor and those working for minimum wage with little to no benefits. We need a strong safety net, and who better to pay for it than the financial institutions that caused the economic crisis in the first place?"
The bill would allow the U.S. to join the rest of the world in a growing system of financial transaction taxes. The recent adoption of a similar tax by 11 European countries -- a tax that will apply to U.S. traders whose payments will fund European priorities -- shows the proposal has momentum and substantial international support.
NOW activists will join the Robin Hood Tax Campaign on Saturday, April 20, for a rally outside the International Monetary Fund and World Bank offices, and then a march to the White House and U.S. Treasury Department.
What: Robin Hood Tax Campaign Rally and March
When: Saturday, April 20, beginning at 12 noon
Where: Rally at Murrow Park (Pennsylvania Ave. between 18th and 19th Streets) adjacent to the International Monetary Fund and World Bank. March follows to the White House and U.S. Treasury Department
In addition to NOW, more than 140 organizations representing millions of members have endorsed passage of the Wall Street sales tax.
"The growing wealth and income gap in this nation is syphoning money away from the U.S. government and the programs it funds," said O'Neill. "The Robin Hood Tax is an important step in returning this money to the people."