Fifty years ago this week, President Lyndon Johnson, lamenting that too many Americans “live on the outskirts of hope,” declared an “unconditional war on poverty in America.” This will not be “a short or easy struggle,” he stated in his State of the Union address to the Congress, “no single weapon or strategy will suffice, but we will not rest until that war is won. The richest nation on earth can afford to win it. We cannot afford to lose it.”
With Congress about to begin the next cycle of budget battles – mostly focused on how much more pain to inflict on Main Street communities across America – a far different message is bubbling up across the land.
Simply put, the big idea behind the Robin Hood Tax is to generate hundreds of billions of dollars. That money could provide funding for jobs to kickstart the economy and get America back on its feet. It could help save the social safety net here and around the world. And it will come from fairer taxation of the financial sector.
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