Tuesday, May 18, 2010

Germany to Support EU Tax Plan on Financial Industry

German Chancellor Angela Merkel said Tuesday in Berlin that Germany would support a tax on the sector to contribute to the costs of the euro-zone sovereign-debt rescue plan, reports WSJ.

We are unquestionably entering bizarre land. The EU bailout was all about protecting the banksters. Now, Merkel wants to tax them? I'm thinking this is food for the masses to chew on, while the loopholes in any tax plan will keep the banksters fat and happy.

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