The legendary Robin Hood patrolled Sherwood Forest with a band of merry men, who stole from the rich and gave to the poor. This past September, Congressman Keith Ellison (D-MN) hoped that a band of merry men and women in Congress would pass H.R. 6411, the Inclusive Prosperity Act. The approach proposed by the bill, known as a Robin Hood Tax or, more technically, a Financial Transaction Tax (FTT), does not steal from the rich, but it does seek to fund the poor.
According to the National Association of Realtors' Housing Affordability Index, 2012 was a record year for housing affordability. The release of their results led to articles with titles such as "Housing Today Is More Affordable Than At Any Time In History" on an investment blog and "2012 a banner year for housing affordability, industry group says" in a major national newspaper.
A lot has been said about the proposed tax giveaway to the wealthiest Americans and the austerity measures recommended by President Obama's deficit commission. However, an analysis of the impact that both proposals would have on black and brown Americans has been missing from the conversation.
U.S. Census Bureau projections show that the nation is expected to become majority-minority by the year 2042. And, although Census figures indicate that people of color will comprise about 42 percent of the elderly population by 2050, they are likely to become a majority of older adults by the year 2070.
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Written by U.S. Rep. Charles B. Rangel
I am pleased that the President's FY14 Budget addresses the student loan crisis in our country. From leading the world into the age of democracy to spearheading the technological revolution, America has always been at the forefront of greatness.