Sunday, June 1, 2014

The Proposed Robin Hood Tax

By Elmer Whittaker 

Ok, so here is my simple minded take on the proposed "Robin Hood Tax". 

I have been buying products online for many year. In fact while living in Arizona I even had a business selling products online. Unless I was selling within the State of Arizona, I was not required to collect sales tax. 

I also purchased, sold and owned stocks online through a online brokerage firm.  

Not being a tax genius I just found out not too long ago through the proposal of the so called Robin Hood Tax, that I apparently had to pay no "sales tax' on my transactions. 

Up to this point I considered purchases online as the only sales tax free purchases I knew of with the exception of food in Arizona. 

Lately even Amazon started to charge me sales tax and since I moved back to Nevada, I am now again paying sales tax even for food. 

On other words we are paying sales tax on virtually everything we buy. From gasoline, over medical bills to food and drink.  

If the claims of the proponents of the "Robin Hood Tax" are factual, I see absolutely no reason for big banksters, investment banks and brokerage firms to be exempted of paying a sales tax on their stock, options and commodity purchases, especially if the proposed sales tax is as minute as proposed. 

For more information on the Robin Hood Tax please visit:  

Please visit our Facebook and Twitter Page!