Health Activists Protest Presidential Candidates, Demand Tax on Wall St. Trades

Who: ACT UP/NY, QUEEROCRACY, Health GAP, Robin Hood Tax Campaign and National Nurses United, Greater New York Labor-Religion Coalition, Housing Works

What: Will demonstrate outside of the Waldorf Astoria hotel before the Al Smith Dinner honoring President Obama and Mitt Romney

When: Thursday, October 18th at 5:30 pm

Where: Waldorf Astoria hotel at 50th St. and Park Ave., assemble in front of  St. Bartholomew’s Church.

Why: Activists are demanding both of the Presidential candidates publicly support a Robin Hood Tax on Wall Street financial transactions to fund AIDS, healthcare, and jobs and to fight climate change. Activists are supporting the Robin Hood Tax – Rep. Keith Ellison’s HR6411, The Inclusive Prosperity Act, which would place a 0.5% tax on stock transactions and could raise up to $350 billion/year. (It would only amount to $1 on each $200 of financial trades). Activists won’t accept cuts to AIDS or healthcare based on the so-called “Financial Cliff,” which was artificially created by cutting taxes on the wealthy while expending vast sums on war.

In August, France began implementing a “Robin Hood Tax” (Financial Transaction Tax), which earmarks some of the proceeds to AIDS.  On October 9th, eleven European Union finance ministers more than the required number to take action — agreed to move toward a European Commission Robin Hood Tax of 0.1% on shares and bonds and 0.01% on other financial products (see: National Nurses United and the NY Times).

This is a tremendous step forward in the global campaign for a Robin Hood Tax and a strong push back against the European tide of devastating austerity measures. The Europeans’ actions provide momentum for the U.S. Robin Hood Tax campaign.

President Obama reportedly supported the concept of a financial transaction tax earlier in his administration, but both Treasury Secretaries Larry Summers and Timothy Geitner rejected the measure. Romney hasn’t stated a position on the tax or on Ellison’s bill, but is believed to oppose it based on his general opposition to tax increases. Activists are calling on both candidates to support the Robin Hood Tax and appoint a Treasury Secretary who will push Congress for a version based on the Ellison model.

About ACT UP

Founded in 1987, ACT UP (AIDS Coalition to Unleash Power), is a diverse, non-partisan group of individuals united in anger and committed to direct action to end the AIDS crisis. ACT UP currently meets every Monday night at 7PM ET via Zoom. Notes: you will be asked to contribute your first & last name and email address to access online meetings, and KN-95 masks are required for ACT UP NY in person meetings/actions/gatherings. All individuals are welcome!