The Corner

Osborne Pushes Back

One of the myths about the proposed financial transactions tax being pushed by Merkel, Sarkozy, EU Commission Barroso, Senator Harkin, various celebrities, various clergymen and other folk usually worth ignoring is that it is a “tax on bankers”. It’s not. Like so much else it’s primarily a tax on savers (and politicians pretend to wonder why people don’t save more).


Britain’s Chancellor of the Exchequer (finance minister) George Osborne, one of the few bright sparks in David Cameron’s dreary and generally destructive government (but less destructive than Labour!) takes the opportunity to remind a few people in Brussels of just that fact:. The Daily Telegraph reports:

During talks in Brussels, the Chancellor argued that it was a “waste of time” to discuss a controversial financial transactions tax, which requires the unanimous support of all 27 EU member states, instead of dealing with the pressing eurozone debt crisis.


“What I find difficult to accept is that we are going to spend a huge amount of time discussing, in the middle of a crisis in the European economy, the idea of a financial transaction tax when it is already clear, both from the euro and non-eurozone, that there is not anything like unanimity for it,” he said.


“We have to ask ourselves whether this is the best use of our time.”


During comments that were supported by three other countries, Osborne attacked the European Commission’s financial transaction tax (FTT) proposal as missing its target of bankers to hit pensioners.


“There is not a single banker in this world that is going to pay this tax. There are no banks that are going to pay this tax. The people who will pay this tax are pensioners,” he said.  

Osborne continued with more home truths, something that infuriated the German finance minister, a stooge of Brussels briefly on leave from his day-to-day work of looting the German taxpayer: 

Wolfgang Schaeuble, the German finance minister, warned Mr Osborne that non-euro countries like Britain should think “very carefully” about creating differences between the single-currency area and the rest of the EU.


“We will wait 20 years before doing anything if we wait for the last island on this planet,” he said. “One day we may have to do it in the euro zone rather than the EU.”  

Ah yes, the EU…bringing Europe closer together.

Most Popular


Men Literally Died for That Flag, You Idiots

The American flag’s place in our culture is beginning to look less unassailable. The symbol itself is under attack, as we’ve seen with Nike dumping a shoe design featuring an early American flag, Megan Rapinoe defending her national-anthem protests (she says she will never sing the song again), and ... Read More

The Plot against Kavanaugh

Justice on Trial, by Mollie Hemingway and Carrie Severino (Regnery,  256 pp., $28.99) The nomination and confirmation of Brett Kavanaugh to the Supreme Court was the political event of 2018, though not for the reasons anyone expected. All High Court confirmations these days are fraught with emotion and tumult ... Read More
Politics & Policy

He Just Can’t Help Himself

By Saturday, the long-simmering fight between Nancy Pelosi and her allies on one side and the “squad” associated with Alexandria Ocasio-Cortez on the other had risen to an angrier and more destructive level at the Netroots Nation conference. Representative Ayanna Pressley, an African-American Massachusetts ... Read More
White House

On Gratitude and Immigration

Like both Rich and David, I consider it flatly inappropriate for the president of the United States to be telling Americans -- rhetorically or otherwise -- to “go back where you came from.” In consequence, you will find no defense of the president from me, either. What Trump tweeted over the weekend was ... Read More

Gender Dissenter Gets Fired

Allan M. Josephson is a distinguished psychiatrist who, since 2003, has transformed the division of child and adolescent psychiatry and psychology at the University of Louisville from a struggling department to a nationally acclaimed program. In the fall of 2017 he appeared on a panel at the Heritage Foundation ... Read More

The ‘Squad’ Gives a Gift to Donald Trump

On Sunday, Donald Trump gave the Democrats a gift -- comments that indicate he thinks native-born congresswomen he detests should “go back” to the countries of their ancestors. On Monday, the four congresswomen handed Trump a gift in return, managing to respond to the president’s insults in some of the most ... Read More
PC Culture

A Herd Has No Mind

sup { vertical-align: super; font-size: smaller; } Funny thing about my new book: I had begun shopping around the proposal for writing it long before my brief period of employment with that other magazine and the subsequent witless chimp-brained media freakout and Caffeine-Free Diet Maoist struggle ... Read More