Tuesday, August 16, 2011

France and Germany

France and Germany working together to fix Europe with balanced budgets and taxes.

Sarkozy and Merkel also proposed a Europe-wide tax on financial transactions and pledged to harmonize their countries' corporate taxes...

(From a Yahoo Finance story -- I don't have the link handy).

I don't like to wax too political here, but I'm not sure higher taxes and fees are the solution to runaway entitlement programs. Seems to me this risks slowing down economies even further.

Plus, I worry that some of these ideas will be introduced here. There has been chatter about financial transaction fees for years. And as we know, corporations don't pay taxes, they collect taxes by charging higher prices to consumers.

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