Robin Hood goes digital to fight climate change and poverty

Ordinary citizens are not the only ones who are taking advantage of social media tools or the simplicity of creating online videos and media rich websites.  Campaigns and organizations aimed at helping the less fortunate are using these tools as well.

Recently, a group called At the Table has stepped up to make a difference.  At The Table is a global campaign engaging citizen voices worldwide to spark action on poverty, climate change and the global economy during major summits in 2010.

One of their campaigns is called Robin Hood Tax.  Robin Hood Tax is a tiny tax (0.05%) that would be levied on the trade in financial transactions.  They are proposing this tax would raise billions of dollars to fight poverty and climate change around the world.

G20 governments have mobilized hundreds of billions of dollars to save the banks and the financial system. At the same time, neither the social impacts of the crisis, nor the growing crises generated by climate change are being addressed with the political urgency and the necessary financial resources they deserve. Financial services corporations benefited for decades from the absence of meaningful regulation and are largely responsible for the crisis. We believe it is time for them to pay their fair share of the costs of recovery.

According to their website, The Robin Hood Tax would:

  • raise billions of dollars for fighting poverty and climate change at home and abroad.
  • make sure banks and the financial sector pay their fair share of the economic recovery.
  • help curb destabilizing financial speculation.

What are your thoughts on this “tax”?  Is this pie in the sky?  Maybe all it takes is something innovative and simple like this to make a big difference?  What say you?