Posted in: News

Robin Hood Photobombs Jack Lew At Senate Hearing

Robin Hood Photobombs Jack Lew At Senate Hearing

Robin Hood photobombed Jack Lew at his Senate Finance Committee confirmation hearing to become Treasury secretary, creating some odd moments in the tense hearing.

Two men dressed up like the hooded figure appeared behind Lew during his hearing and were caught by C-SPAN cameras. The Robin Hood look-alikes photobombed Jack Lew to gain attention for their group, The Robin Hood Tax, which wants a new tax on Wall Street transactions.

When not being photobombed by Robin Hood, Jack Lew faced tough questioning on his plans for the economy. Republicans grilled Lew about the administration’s plans to held contain “entitlement” programs like Medicare, Medicaid, and Social Security, The Associated Press noted.

Lew called on Congress to avoid automatic spending cuts set to take effect March 1, saying that the $85 million in cuts would threaten the broader economy. If nominated, Lew would step into a dispute between the White House and Congress on proposed cuts to defense and domestic spending.

Lew is Obama’s nominee to succeed Timothy Geithner, who stepped down last month as Treasury secretary. Though the environment is still difficult between Obama and Congress, Lew would step into a situation vastly different from the one Geithner inherited, The Associated Press noted:

“The economy and banking system are far healthier now. Yet Lew will likely marshal all his strengths as a federal government budget specialist to achieve significant success while quickly overcoming inexperience in some crucial areas.

“Lew is well prepared for tax and spending questions. He has twice served as a White House budget director — once during the Clinton administration and once under Obama before becoming his chief of staff.”

The Robin Hood photobomb of Jack Lew isn’t the only mention for the English hero, Yahoo! News noted. In the Tea Party response to President Obama’s State of the Union address, Kentucky Senator Rand Paul also name-dropped Robin Hood.

Articles And Offers From The Web

Comments

2 Responses to “Robin Hood Photobombs Jack Lew At Senate Hearing”

  1. Anonymous

    It's not a bank tax. The Volcker Rule prevents banks from trading.

    It's not a Wall Street tax. We will pay the tax for Wall Street as it is a cumulative tax upon the final investor or consumer. The IMF's FTT Final Report For The G-20, June 2010, "Its real burden may fall largely on final consumers rather than, as often seems to be supposed, earnings in the financial sector. Because it is levied on every transaction, the cumulative, ‘cascading’ effects of an FTT—tax being charged on values that reflect the payment of tax at earlier stages—can be significant and non-transparent."

    It will result in a net loss of revenue and jobs. The Euro FTT: If the tax was Euro-wide: UK Parliament Economic Sub-Committee of the House of Lords, "The FTT is likely to induce a loss in GDP between five and 20 times larger than the revenues raised from the tax." That means negative revenue for those that are counting. UK Parliament European Scrutiny Committee citing the EU Commission's FTT Impact Assessment, before including negative relocation effects, "a 3.43% fall in EU GDP equates to a fall in economic output worth €421 (£362) billion and a 0.34% fall in employment equates to a loss of 812,000 jobs."