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TAX THE BANKS NOT THE POOR

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To Leader and Finance Ministers of the G20 Nations:

We call on you to support a transaction tax to reduce international financial speculation by banks. We urge you to use the hundreds of billions of dollars that would be generated by a financial speculation tax to fund critical public services at home, and to invest in fighting global poverty and climate change.
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TAX THE BANKS NOT THE POOR

From the UK to the US to Spain, Italy and Israel, the economic crisis is brewing riots, crashes, and protests, but there is one big way out -- a global financial transaction tax (FTT)1.

The FTT, being proposed by Nobel prize winning economists and leading EU politicians, is a tiny fee on stock market traders and speculators -- a fair way to meet the crisis in public financing. Less than .05%, the tax would be painless to responsible commerce and hit speculators hard, raising a trillion dollars in the next 10 years.

We spent trillions bailing out banks and speculators in 2009 - the very people that caused the crisis - and now our social programs are being asked to pay for it. The people won't accept that, and we have a better way. World leaders are deciding right now on the FTT, let's demand that the speculators who got us into this mess pay to get us out!
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