Robin Hood tax: A well thought-out strategy to fund health

Submitted by tusabe about 7 months ago

Comparing the history and vision of Robin Hood to the initiative of trying to save human life and suffering will give a good picture to all stakeholders striving to advocate for funding for health, including HIV and AIDS.

Levying a 0.05% tax on speculative banking transactions in developed world economies can lead to raising billions of dollars to support health services in those countries, but more so in support of the third world and developing countries, where the economic pinch is being felt most.

With lengthy policy frameworks and bureaucracies coupled with the current economic hardships affecting the world's economies, the Robin Hood Tax is not only very timely, but could be replicated whenever a need arises, though the naming and branding of the tax tag may be varied to suite the varying purposes.

Support for the idea will continue to gain a lot of momentum with time, but several concerns remain to be addressed relating to how it will successfully get implemented. Issues like, after signing for support, where will these resolutions be forwarded to for approval? Is it going to be at the UN, EU or at country parliament levels? To be binding, do the banks and other organizations have to consent, or will they be compelled by law to abide? Otherwise, support for the tax is overwhelming.

Keywords: AIDS BANKS financing health HIV Robin Hood tax

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