Comments on: “Tobin tax” gaining ground in Europe http://blogs.reuters.com/commentaries/2009/09/21/tobin-tax-gaining-ground-in-europe/ Now raising intellectual capital Sun, 08 Nov 2015 08:31:30 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: Matthew http://blogs.reuters.com/commentaries/2009/09/21/tobin-tax-gaining-ground-in-europe/comment-page-1/#comment-4923 Tue, 22 Sep 2009 08:49:46 +0000 http://blogs.reuters.com/commentaries/?p=4369#comment-4923 I wonder if I am alone in becoming rather fed up with Turner’s various “pronouncements”. He’s an unelected employee, a civil servant in fact, who should just do his job, keep quiet on policy and stop swanning around like a mini-Barroso.

Secondly, the dismissive critique in this article based on a comparison with car tax falls flat on its face, because simple arithmetic surely proves that abolishing car tax would give a massive boost to the car industry and all its satellite industries, far greater than the so-called scrappage scheme ever could, and we are told that that has been a considerable success.

The only reason nobody “seriously” argues for an abolition of car tax is the same as the reason why nobody “seriously” argues for a flat rate of income tax of 10% – it is that at the moment the taxation monkeys (a.k.a. politicians) have got us into such a mess that such eminently sensible moves, which would transform our entire economy into one of the most vibrant and successful in the world, regrettably cannot be contemplated for the foreseeable future.

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