France, Spain: Tax global capitalism to help the world's poor

[yllus]

In case you needed one more sign that the world's leaders are rather exceptionally out of touch with how the average voter's life is going lately, you have this eyebrow-raising plan to create a financial transactions tax (aka the Tobin tax), which would come into effect on all spot conversions of one currency into another.

In my opinion, it sounds rather disastrous to the cause it's supposed to help. There'd be one more incentive to do business locally in one's own currency instead of going global.

France and Spain push for tax to help world's poor

France and Spain called for a tax on global capitalism yesterday, telling the opening day of a UN summit on development the recession has made "innovative financing" essential to help the world's poor.

Nicolas Sarkozy, the French President, and Jose Luis Rodriguez Zapatero, the Spanish Prime Minister, spoke after Ban Ki-moon, the UN Secretary General, called on rich countries to "not balance budgets on the backs of the poor."

...

While the leaders of several developed countries have pressed the idea of launching a global finance tax before, speaking about it anew at such a widely attended summit gives it added weight.

"We can decide right here -- why wait?" said Mr. Sarkozy.

"Finance has globalized, so why should we not ask finance to participate in stabilizing the world by taking a tax on each financial transaction?"

Mr. Zapatero said alternative financing was needed that is "not as vulnerable" as rich-country budgets during a recession.

"My government is committed to defending the new tax, and making it a reality..." he said.

"It appears sensible, just, and logical that we ask [for this] minimum effort to take millions of people out of misery."

However, his government is among those cutting development aid in the face of the financial crisis.

...

Evo Morales, Bolivia's President who is vehemently anti-capitalist, wants the world's resources nationalized so the "dividends they generate will remain" in their respective countries.

...

Barack Obama, the U.S. President, will speak at the summit tomorrow. He is expected to reaffirm Washington's commitment to the Millennium goals.

Aides say his administration is determined to boost the United State's aid budget to US$52-billion, from its current level of about US$25-billion, despite concerns over the country's economy and continuing high unemployment rate.

The U.S. President is expected to press for new strategies that would see recipient countries commit to becoming more accountable and increase their efforts against corruption.

France has been among the leading advocates of looking to new sources of financing for development, and was the first country to introduce a tax on airline tickets to pay for aid.

In addition to Spain, countries supporting him include Japan, South Korea, Brazil and Norway. Britain during the previous Labour government was for it, but the new government of David Cameron fears financial institutions will move to other regions, such as Asia.

Business leaders also say the tax would dry up financial flows and slow efforts to stimulate worldwide economic development.

 

[Fern]

F' that.

Aides say his administration is determined to boost the United State's aid budget to US$52-billion, from its current level of about US$25-billion

Oh yea! spending more money we don't have. Worse, it's not even being spent on poor Americans; more 'outsourcing'.

Fern

 

[Zebo]

Most of worlds poor is because they are not free. I have a guy that works for me from El Salvador and MS13 extorted him under threats of death so he cashed out his store and came here. Africa same. Religious dogma or only empowering half your people can cripple you too. That's what we should be addressing. It's no accident a poor FOB 70 hr a week Chinese can come here and be a millionaire in 5 years. Just like it's no accident the West/Japan and a few others are where it's at. Lots of hard work, empowerment of people and opportunity. Giving money masks the real problems.

 

[bamacre]

The federal gov't should have an international aid budget of zero.

 

[spacejamz]

I dont understand why they want to give more money to the warlords and dictators who keep oppressing these poor people they are trying to help...

It is pretty sad that they dont' see this happening...or maybe they have some kind of kickback arrangement with them to get their hands on some of this money...

 

[PokerGuy]

.. and Obummer just keeps on throwing around more cash that we don't have. He's like a drunken college student at a bar with a credit card.

 

[Albatross]

Yeah ,we all saw how France helped all those poor gypsies...
Not like the oppression and injustice in the cruel capitalism land.

 

[CanOWorms]

Why don't they just return the trillions they stole from their colonies? That's the main reason for so much of the world's poor. Tax their history.

France can start out by refunding the $21 billion they extorted from Haiti under military-genocide threats. France forced Haiti to pay for its independence from slavery, forcing Haiti to pay for abolishing slavery until the mid-20th century! It destroyed Haiti's economic development for centuries.

 

[Zebo]

Why don't they just return the trillions they stole from their colonies? That's the main reason for so much of the world's poor. Tax their history.

France can start out by refunding the $21 billion they extorted from Haiti under military-genocide threats. France forced Haiti to pay for its independence from slavery, forcing Haiti to pay for abolishing slavery until the mid-20th century! It destroyed Haiti's economic development for centuries.

LOL cry me a river... Japan and Germany were laid to waste just 60 years ago and are now some of the richest countries on Earth. No colonies, no gold left in treasuries, no natural resources, no nothing, half able body men dead. I'll tell you what they did have - law and order and empowerment of people to be anything they want.

 

[BoberFett]

LOL cry me a river... Japan and Germany were laid to waste just 60 years ago and are now some of the richest countries on Earth. No colonies, no gold left in treasuries, no natural resources, no nothing, half able body men dead. I'll tell you what they did have - law and order and empowerment of people to be anything they want.

They also had a fair amount of USD thrown their way.

 

[bfdd]

They also had a fair amount of USD thrown their way.

Oh yeah I forgot we haven't gave anyone a single dime since helping Germany and Japan after WW2. Nah... the USA isn't just the biggest fucking financial supporter of the world as a whole at all. France and Spain can suck my cock.

 

[Zebo]

Yes all paid back too unlike many liars loans we toss around the world.

 

[RabidMongoose]

LOL cry me a river... Japan and Germany were laid to waste just 60 years ago and are now some of the richest countries on Earth. No colonies, no gold left in treasuries, no natural resources, no nothing, half able body men dead. I'll tell you what they did have - law and order and empowerment of people to be anything they want.

Yeah, man, forcing a country to pay to throw off the shackles of slavery is so cool!

 

[CanOWorms]

LOL cry me a river... Japan and Germany were laid to waste just 60 years ago and are now some of the richest countries on Earth. No colonies, no gold left in treasuries, no natural resources, no nothing, half able body men dead. I'll tell you what they did have - law and order and empowerment of people to be anything they want.

Germany and Japan had colonies before WW2 that enriched their societies and helped them develop the law and order and empowerment. In addition, both were under the umbrella of the US after WW2. They were not enslaved. They enslaved others.

 

[Zebo]

Germany and Japan had colonies before WW2 that enriched their societies and helped them develop the law and order and empowerment. In addition, both were under the umbrella of the US after WW2. They were not enslaved. They enslaved others.

Fail. Everyone has had colonies at one time in history. Mongols owned half the world and are dirt poor now. Fact is with bombed out destroyed countries with half able body men dead they built them into first world in short order.

 

[Genx87]

Germany and Japan had colonies before WW2 that enriched their societies and helped them develop the law and order and empowerment. In addition, both were under the umbrella of the US after WW2. They were not enslaved. They enslaved others.

We enslaved about 1 million german soldiers after the war to rebuild europe and the Soviet Union.

 

[Infohawk]

Germany and Japan had colonies before WW2 that enriched their societies and helped them develop the law and order and empowerment. In addition, both were under the umbrella of the US after WW2. They were not enslaved. They enslaved others.

Are you suggesting Germany and Japan's colonies were a positive thing?

 

[Genx87]

Are you suggesting Germany and Japan's colonies were a positive thing?

I think he believes those colonies somehow made them rich after we destroyed their countries. Does owning a 1 million dollar house and having it bombed to ashes mean you are richer than the guy who has a 100K house that is intact?

 

[ConstipatedVigilante]

Oh, yes! In the midst of a worldwide recession, let's tax global business and discourage engaging in transactions abroad! This will really help!

It's not possible to just make the poorer countries richer. If you just inject money into their treasuries, it will go to corrupt dictators who like to kill their own people or spend money on lavish statues. Industrialization (and all the ills that come with it) is only possible by putting into power a person who has the interests of their country at hand, and is able to unite the country to do it. Very few poor countries are able to do this with their current level of corruption.

 

[Jaskalas]

France, Spain: Tax global capitalism to help the world's poor

I suggest they try it out on themselves first and let us know how well it works out for them.

Oh, that's right. They want YOUR money. My response? Piss off.

 

[MotF Bane]

Goddamnit, politicians across the world truly are fucking retarded.

 

[Binarycow]

Goddamnit, politicians across the world truly are fucking retarded.

neah, they think the average person, like us, is fucking retarded. That's why they have the balls to propose an all around fucked up plan like that.

 

[KMFJD]

Third world country strong men would just confiscate 75%+ of this money anyways and only bare minimum would end up with the poor....look at the failure that is africa for the last 50 years

 

[Schadenfroh]

The federal gov't should have an international aid budget of zero.

QFT, voluntary charitable giving by individuals should be the only form of international aid.

 

[ShawnD1]

One thing to understand is that France does what is best for France and Spain does what is best for Spain.

which would come into effect on all spot conversions of one currency into another

Translation: you don't pay the tax if the products are made and sold in the same country. Made in France, made in Spain.

I have a better idea. Put reasonable taxes on imports to give local companies a boost. Don't bullshit and say that it's to help poor people. Just be honest, say that it's to support local business, and move on.