Reverse Robin Hood

It seems our Federal Treasurer has considered the so called Robin Hood Tax  and reversed it in the just announced Bank Deposit Tax.  The original concept was to take a small amount from bank deposits in wealthy countries to fund assistance for the worst off in the world.  A concept I support as it would have helped those penalised by capitalism, and would be happy to pay my share.  However the Treasurers plan is to take from small depositors to create a fund to back up the big 4 banks, some of the richest institutions in Australia.   Something I do not support as it consolidates capitalism at the expense of the small depositor.  It will be a disincentive to those with the greatest need to save a bit each week.

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