February 10th, over fifty charity organisations (among which Christian Aid, Comic Relief and UNICEF) proposed a global tax to raise money, basically to do good. This tax will affect mostly banks but also various types of financial dealings (such as stock and bonds dealings). Getting money from ‘the rich’ to support ‘the poor’ gives this tax it’s appealing name ‘The Robin Hood Tax‘. This proposal is very similar to the Tobin Tax although this tax will affect a wider range of asset classes. Another difference is that the Tobin Tax was designed to stabilize the economic market and to filter speculative noise. The Robin Hood Tax is merely designed to invest in poor countries, environment and climate change.
The approach of the proposal is very much like an activists campaign where celebrities and economist are involved. Some 350 economists support the tax and wrote a letter to the G20. The foundations’ focus is political lobbying. To gain support, modern methods are used with a focus on new media, social networking and creative marketing. The motto; turning a crisis for the banks into an opportunity for the world.