Robin Hood, nearing European victories, still struggling to awaken in the U.S.

July 30, 2012

A "Robin Hood" tax — a small fee on stock, bond, and derivative transactions that has been supported by some high-profile, center-right EU political leaders — is likely to be enacted soon by several EU countries, including Germany and France. Here in the U.S., an activist coalition that favors a financial transaction tax to help generate the revenue needed to protect and expand government programs — and to deter what it considers the destabilizing and unproductive role "high-frequency trading" — is just gearing up. Thus far, despite the introduction of several FTT bills, a majority of national Democrats have stayed silent on the issue.

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