Finally a Representative body, that knows WHO they work for …
Class war breaks out in the U.K.
The Labor government announces a tax on exorbitantly-paid bankers. American populists gnash their teeth in envy
By Andrew Leonard, Dec 9, 2009
Unsurprising headline of the year: “U.S. Probably Will Avoid Matching U.K. 50 percent Bonus Tax.”
Alistair Darling, the U.K. Chancellor of the Exchequer, announced the tax — aimed squarely at overpaid bankers
“There are some banks who still believe their priority is to pay substantial bonuses,” Darling said in Parliament. “I am giving them a choice. They can use their profits to build up their capital base. If they insist on paying substantial rewards, I am determined to claw money back for the taxpayer.”
Paul Krugman says the move is “entirely reasonable.” Justin Fox asks, “why the heck not?” Felix Salmon says “well done.”
But don’t expect a repeat across the pond.
Interesting … maybe the People CAN Fight back?