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Gordon Brown has done his best to further the international cause of Marxism. He must have been salivating at the prospect of being the comrade to chaperone in an era of international taxation upon global bankers. They would have erected a statue to him in Russia I am sure.
However it was not to be. The Americans in common with the other G20 partners have had enough of Socialism already. America in particular is having problems at home with the voters after creating the largest publicly financed banking sector in the world in a former capitalist economy. To introduce further taxation could lead to a revolt the like of which has not been seen since a certain tea party in Boston.
Mail on Sunday: - Humiliation for Brown as plan for global banking tax is rejected by U.S. and others at G20 meeting
Gordon Brown was left embarrassed tonight after his plan for international bankers’ transaction tax – only to have it flatly and publicly rejected by the Americans and others.
The Prime Minister raised the possibility of the worldwide levy that would pay for bailouts in a speech to the world’s most powerful finance ministers.
Mr Brown said the so-called ‘Tobin Tax’, named after the U.S. economist who invented it, could help achieve a ‘social contract’ between the big financial institutions and the public.
Other nations have the idea that LOWERING taxes and RESTRICTING the scope and powers of the government to interfere in the lives of the individual will feed the economy from the bottom where it matters most to the individual, leads to fuller employment and democracies in which the politicians are expected to do the best for the people rather than exercising draconian control over their everyday lives.
These happen to be the countries which are emerging from recession instead of digging themselves further into it.
Gordon Brown never stood a chance!
