Monday, January 18, 2016

EU-Wide Petrol Tax To Pay For Refugees

Raising taxes during an economic contraction, the shifting of money from the private to public sector, is never a good idea. Even Keynes, whom advocated reducing government spending during economic expansions rather than today's interpretation of his theories as supporting infinite spending with zero constraints, would have challenged these ideas as economically, socially, and politically unsound.

Headline: German finance minister proposes EU-wide petrol tax to pay for refugee crisis

Germany’s finance minister has called for a new EU-wide tax on petrol to pay for the refugee crisis.

Wolfgang Schäuble proposed the tax on petrol sales across the EU to pay for the costs of securing the Schengen Area’s external borders against a further influx of migrants.



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