The British government, which like the United States propped-up failing banks with taxpayer funds, announced on December 9 that it would levy a one-time 50% tax on any banker bonus that exceeded approximately $ 41,000 (article). The move was designed to discourage big Christmas and year-end rewards for the bankers who caused this global economic catastrophe, and to try to recover some of the taxpayer bail-out money that was injected into the financial services industry.
The following day, the President of France announced that his country would impose an "equivalent" windfall tax on bankers’ bonuses (article).
Officials in both countries have urged their counterparts around the world, including the United States, to take similar actions against what is perceived as blatant banker greed at a time of global economic crisis.
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