Timmy elsewhere

At City AM.

About the Tobin Tax and how banks won\’t pay it, consumers will.

As to calling it the Robin Hood Tax, perhaps we should remind them of the original Robin of Loxley. He made his bones resisting those collecting unjustly levied taxes, not imposing them.

They took out the line about Boris having provided plenty of lamp posts. So that\’s twice an editor has stopped me from urging mass murder: quite possibly two wise decisions there.


2 thoughts on “Timmy elsewhere”

  1. A fine article, but I offer the following analysis in response:

    a) Governments need to raise money through taxation (I pass over what they might do with it).

    b) As elected organisations they need the broad consent of the electorate.

    c) At the moment banks and financial institutions are disfavoured by the public, which is likely to see additional taxation of financiers’ operations as condign.

    d) The fact that the ultimate burden is in fact borne by the public is not immediately apparent to the average voter, so the economic arguments are trumped by the political.

    This line of argument cannot of course be explicitly stated by the governing class, which would explain why so many specious alternative justifications are adduced.

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