Is America Broke? Not With a Robin Hood Tax

By John Nichols, TheNation.com

When The Nation published its “People’s Platform” prior to the recent Republican and Democratic conventions, the first plank in the proposal to move our politics in “a more boldly progressive direction” was a call for a Robin Hood Tax.

The People’s Platform declared:

Michael Moore was right when he said, ‘America is not broke.’ But America will act like it is as long as politicians of both parties fail to challenge the prevailing view that our resources are insufficient to maintain Social Security, Medicare and Medicaid—let alone expand essential programs to meet pressing social needs. Yes, of course it is necessary to rescind the Bush/Cheney tax cuts for the rich. But at a time when so much of our economy involves the rapid trading of financial instruments, it is also time to impose a financial transactions tax on the speculators who caused an economic meltdown that continues to inflict pain here and abroad.

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The staff of the Pennsylvania Association of Staff Nurses and Allied Professionals

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