Protesters in Chicago call for 'Robin Hood' tax

[xchrom]

http://www.csmonitor.com/Business/Latest-News-Wires/2012/0518/Protesters-in-Chicago-call-for-Robin-Hood-tax


A protester marches through the streets as others hold a banner during a demonstration in Chicago May 18, 2012, ahead of a NATO meeting. One of protesters' main themes was a demand for a 'Robin Hood' tax, which would impose a small tax on financial transactions.

Jim Young/Reuters

Thousands of nurses and other protesters gathered Friday at a downtown Chicago plaza for a noisy but largely peaceful demonstration demanding a "Robin Hood" tax on banks' financial transactions, before a smaller but more raucous crowd broke away and began marching through city streets.

The marchers chanted slogans and taunted police, who followed on bicycles and on foot. Police horses blocked some intersections as the breakaway groups wound through the city.

Friday's demonstrations were the largest yet ahead of a two-day NATO summit that is expected to draw even larger protests.

Members of National Nurses United, the nation's largest nurses union, were joined by members of the Occupy movement, unions and veterans. City officials have said the event could draw more than 5,000 because of a performance by former Rage Against the Machine guitarist Tom Morello, an activist who has played at many Occupy events. Early crowds did not appear to be that large.

[ananda]

1. Tax the rich and give it to the poor.

nt

[FrodosPet]

2. So they can give it right back

Notice how it seems to work that way?

Give a rich person money, and they spend some while investing most.

Give a poor person money, and we spend it all. Give a poor person even more money, and we spend even more. But at least we will have a few nice meals and perhaps a new toy or two.

Not only do poor people need access to money, we need access to long term productive assets and education about how rich people "do it" in terms of budgeting and investment. Otherwise , it seems like it is just trading money back and forth.