A global financial-transactions tax?

by Walter Olson on June 25, 2012

United Nations experts are touting the idea as a way of redistributing money from richer to poorer countries [Global Governance Watch, Dan Mitchell/Cato at Liberty, Nile Gardiner/Telegraph] Not incidentally, it would carry a potential for greatly augmenting the power of the fledgling transnational governing class, by at last giving them a source of funds not based on individual state contributions [Jacob Mchangama & Aaron Rhodes, NRO] (& welcome Above the Law readers)

{ 3 comments }

1 Ed 06.25.12 at 7:48 pm

To paraphrase: Money corrupts and absolute money corrupts absolutely. All this would do is create a hugh pile of money for corrupt countries to steal or inept ones to waste.

2 doug 06.25.12 at 8:52 pm

bad idea.

3 Greg Nullet 06.25.12 at 11:15 pm

Only the bureautrash could take this idea seriously. The idealistic language – purple prose and no substance – marks this as a naked grab for power. There is zero chance that anything suggested will come to pass. They just can’t stand the fact that we still have the option of ignoring them.

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