I am always amazed at the many ways some people can come up with to take money out of other people’s pockets. Robbing people is not allowed, but it seems as if governments are becoming geniuses at thinking up new ways to take money away from the people who earn it. <\/p>\n
The UK Financial Times<\/a> reported yesterday that UK Prime Minister Gordon Brown is finishing up negotiations on a global banking tax that could be approved at the meeting of the Group of 20 in June. Evidently, Britain, France, and Germany already support this tax; he is hoping that the United States will join in that support. Why in the world would we want to be part of this?<\/p>\n Germany wants to use the money raised to provide an insurance program for failed banks, but Prime Minister Brown is concerned that will lead to risky behavior on the part of the banks. Ms. Merkel of Germany suggested that each country should be allowed to decide how to spend the money raised by this levy. Why are we letting other countries meddle in our tax policies? We can mess them up sufficiently ourselves!<\/p>\n This is an idea that needs to go away quickly. The G20 should never be allowed to determine American tax policy.<\/p>\n","protected":false},"excerpt":{"rendered":" I am always amazed at the many ways some people can come up with to take money out of other people’s pockets. Robbing people is not allowed, but it seems as if governments are becoming geniuses at thinking up new … Continue reading