Collateral Damage of AIG Rich-hunt
You know about the laws of unintended consequences – you do one thing and five other things are blown up because of it. In the Financial Times: Banker fury over tax ‘witch-hunt’.
Senior executives on both sides of the Atlantic on Friday warned of an exodus of talent from some of the biggest names in US finance, saying the “anti-American” measures smacked of “a McCarthy witch-hunt” that would send the country “back to the stone age”. . . . “There are three big industries where the US has global leadership: financial services, media and technology. Introducing this 90 per cent tax is like taking one of those industries out the back and shooting it,” said a top Wall Street executive.
Obama not only intends to bankrupt the United States, but send our best financial brains out of the country to get away from punitive taxes and those ACORN Rich-hunters.
