…in large amounts
Also the US, after various European countries, are now planning to tax banks extra to gain money – taxpayers’ money – back that has been used to keep them alive. I don’t need to rehash the story here.
I think this is a good idea; I do think that every method of taxing something will have its disadvantages and therefore can be criticised. But the idea, in this case, I think is too important to “let better get in the way of good”. No system will be perfect, clever bankers will find a way around it, and the (few? ooh cynicism!) good bankers might suffer too.
But still, I am, like many people, outraged to hear that banks that have received billions of government support are now using large sums to hand out bonuses. The most pathetic reason I think is “to prevent the good bankers from leaving to the competitors”. Good bankers? Funny definition of “good” they have if it means taking too much risk, wasting a lot of money, and only thinking of short-term profits to fatten their payroll.
I’d say, let them bloody leave to the competitor!
This also provides me with another opportunity to plug a Depeche Mode lyric, surprisingly – well, no, not really – still current despite being penned in 1983.
The grabbing hands
Grab all they can
All for themselves
It’s a competitive world
Everything counts in large amounts