On the 19th of June, the National Nurses Union, backed up my many other groups including NOW, AIDS activists, and Occupy our Homes, picketed at the 800 Connecticut Ave office of JP Morgan Chase demanding that the bank support a Robin Hood tax of 1/2% on financial transactions.
JP Morgan Chase is the same bank that gambled away at least $2 billion of taxpayer funds and was responsible for the violent eviction on June 5 of Dawn Butler from 917 MD Ave, where three Occupy our Homes protesters were injured.
One of the speakers pointed out that Mr and Mrs You and Me have to pay sales taxes on just about everything, but banks get to trade stocks and bonds without paying sales taxes. Meanwhile the GOP wants to cut taxes on the wealthy and shut down programs like food stamps!
Deborah Harris of Occupy Our Homes, herself facing foreclosure by JP Morgan Chase, was one of the speakers. She was also arrested when Occupy Our Homes confronted JP Morgan Chase CEO Diamond at his testimony before Congress about the billions of taxpayer dollars his bank gambled away on Wall Street.
Proponents of the Robin Hood tax say it will bring two benefits: One is that it will raise a lot of revenue from a very small tax, and the other is that it will discourage high frequency trading that causes much market instability,