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View Diary: updated:The Horror! EU proposes introducing Financial Transactions Taxes! (101 comments)

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  •  VAT is an inherently regressive tax that (3+ / 0-)
    Recommended by:
    DRo, Roger Fox, Eric Nelson

    hits harder on those on lower incomes than on the rich. What we need instead is taxes on wealth above certain levels (we do tax transfers of wealth, it is the wealth itself that must be taxed), more progressive income taxes. Geithner has strongly opposed, but he works for Goldman Sachs and is clearly concerned with covering them rather than anything else.

    "Hegel noticed somewhere that all great world history facts and people so to speak twice occur. He forgot to add: the one time as tragedy, the other time as farce" Karl Marx, The Eighteenth Brumaire of Louis Bonaparte .

    by NY brit expat on Wed Sep 28, 2011 at 01:20:32 PM PDT

    [ Parent ]

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