Proudly claiming the legendary outlaw Robin Hood as their inspiration, liberal groups and past Occupy Wall Street supporters are pushing for a “Robin Hood Tax” on corporate transactions. George Soros’s Open Society Foundation, Bill Moyers’s Schumann Center for Media and Democracy and the liberal Tides Foundation and Proteus Fund have given over $4 million to organizations that support the tax, according to the official Robin Hood Tax website.
Support for The Robin Hood Tax has come from both Europe and the United States. Although they haven’t gotten specific about which corporate transactions would be taxed, advocates claim such a tax would raise hundreds of billions of dollars, which could then be used to promote social programs or climate change prevention initiatives. Many of its proponents also have ties to the Occupy Wall Street movement.