Wealth Redistrubution on a Global Scale

FoxNews reports:

Rich Nations Urged to Weigh 'Robin Hood' Tax to Help Poor

As President Obama huddles with world leaders for the G-20 summit in South Korea to weigh proposals aimed at stabilizing the global economy, one idea being pushed is a so-called "Robin Hood tax," aimed at collecting money from rich nations to give to the poor.

The Robin Hood tax -- a global financial transaction fee that could raise hundreds of billions of dollars to pay the cost of the global financial crisis and support developing nations struggling to recover -- is not popular.

While Britain, France and Germany have championed a bank tax for all G-20 nations, finance
chiefs from the industrialized nations shot down the idea at a previous summit held in Toronto last summer.

Still, the tax's supporters, which include unions, environmental groups, Comic Relief, UNICEF and others in a multinational coalition, say the tax could go to canceling debt from poor nations. Or it could be used for social programs to fight hunger, diseases such as HIV/AIDS and malaria or other causes, programs to which the United States and other nations already donate billions.

The crusaders -- a coalition of 183 organizations from 42 countries -- issued a plea this week urging leaders at the G-20 summit in South Korea to adopt the measure. While specifics have not been outlined, the idea would be to charge a small transaction fee, anywhere from 0.05 percent to 1 percent, on each stock transaction made.

This is simply theft. These poor nations are given billions each year by various organizations, governments and private citizens. The money is mismanaged as the governments it is given too are largely corrupt. Our aid packages from the U.S. are more than enough, too much actually, of tax payer funded aid. I see no reason this needs to be approved. Marxists, Socialisists and Progressives worldwide want transfer of wealth to poor countries. This is one way they will try to destroy the wealth of prosperous nations. If people want to help the poor then they should have the right to do it. But their money should not be stolen from them.