Both Parties Do It, Europe Edition

http://www.futureofcapitalism.com/2011/08/both-parties-do-it-europe-edition

More evidence that politicians on both sides of the aisle surrender to the tax-and-spend impulse: Nicolas Sarkozy and Angela Merkel, both politicians from right of center parties, announced today they would propose a tax on financial transactions. What a way to send a message to global capital to go somewhere else. Stock prices fell immediately after the announcement. It's almost enough to make a person think that France and Germany would be better off with left-wing parties in power. If they proposed an idea like this, the right would oppose it and try to block it. If it actually gets implemented, look for President Obama to try to copy it here, a la European-style universal health insurance.

by Editor  |  Aug 16, 2011 at 1:19 pm Related Topics:  Europe receive the latest by email: subscribe to the free futureofcapitalism.com mailing list