that s really what happened about a year ago. if you look at what we did, we managed to kick start the economy. we managed to avoid protectionism, which could have taken place. and we started regulating the financial system in a better way, which was an absolute must. and to do all that, we had to collectively, us, member states from all around the world, we had to refuel because there was nobody else and nothing else available. so let s talk p financial reform. dominique strauss-kahn, whoever in your organization came up with the acronym for the tax you have proposed deserves a gold medal because it is exquisitely named the fat tax. other countries have vat taxes, you are row posing a fat tax, a financial activities transaction tax. the idea is to achieve global commonality along the lines
that s really what happened about a year ago and if you look at what we did, we managed to kick start the economy. we managed to avoid protecti protectionism and we started regulating the financial system in a better way, which was an absolute must. to do all that, we had to collectively, us, member states from all around the world, we had to refuel because there was nobody else available. dominique, whoever in your organization came up with a acronym for the tax you proposed deserves a gold medal, the fat tax. other countries have vat taxes. you are proposing a financial activities transaction tax. the idea here is presumably to achieve some kind of global commonality that larry summers
i know it sounds like the big wall street fat cats, but if you have a 401(k), that would be you. volcker has now come out and said we re going to have to raise taxes to bring deficits under control. did we try the not spending money thing and it didn t work out? i m fuzzy on the last nine or ten years. he said we re going to need to consider a european style value-added tax, or v.a.t. taxes, always add value. according to reuters, volcker said, the value-added tax was not as toxic an idea as it had been in the past. and also said, a carbon or related energy energy-related tax may become necessary. so we could get a v.a.t. and the carbon tax? oh, oh be still my heart. he said getting entitlement cost and u.s. budget under control may require such
i know it sounds like the big wall street fat cats, but if you have a 401(k), that would be you. volcker has now come out and said we re going to have to raise taxes to bring deficits under control. did we try the not spending money thing and it didn t work out? i m fuzzy on the last nine or ten years. he said we re going to need to consider a european style value-added tax, or v.a.t. taxes, always add value. according to reuters, volcker said, the value-added tax was not as toxic an idea as it had been in the past. and also said, a carbon or related energy energy-related tax may become necessary. so we could get a v.a.t. and the carbon tax? oh, oh be still my heart. he said getting entitlement cost and u.s. budget under control may require such