Open Dictionary word of the week: Robin Hood tax

Posted by on March 29, 2012

Robin Hood tax (noun)

a very small (0.05%) tax on every speculative financial transaction made by banks; also called Tobin tax

The Robin Hood Tax is designed to hit only speculative, “casino” trading and not the high street banks used by the public.

(Submitted from the United Kingdom)

It’s been a taxing past few weeks for out-of-touch politicians. Nicolas Sarkozy may be introducing the Robin Hood tax in France … but his nickname Le President Bling-Bling is a better reflection of the celebrity president’s reputation. Bling, of course, stands in blindingly stark contrast to the austerity vibe that prevails at the moment and has done since, you know, that crisis  –  austerity was one of our top words for last year, along with occupy and inequality, so bling doesn’t fit in well here.

It has been suggested that Sarkozy is the Mitt Romney of Europe – the out-of-touch label is placed on both these men. Mitt Romney’s the regular guy who when asked if he follows the NASCAR like other regular guys replied that some of his friends are NASCAR team owners. And on this very day, to add to the sparkling line-up of out-of-touch politicians in a world currently defined by crisis, austerity, 99 per centers and bailouts – David Cameron and his Pastygate erupt into the media.

Would Robin Hood have eaten baked goods? I reckon so. You can imagine him and the Merry Men sitting round in that forest eating pasties while plotting their thieving from the rich to give to the poor  – laughing over Cameron’s porky pie about buying his last Cornish pasty from a bakery that has been closed for 5 years, plotting to steal Le President Bling’s bling and Ann Romney’s couple of cadillacs.

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