Sunday, June 10, 2018

The EU Tax Idea

It came up this weekend....mostly as a page two story on several different business journals in Europe....the new German Finance Minister (SPD Party member) wants to do something about the weak financial situation of various EU member states.....hint: Italy.

So the idea create an EU tax foundation step.  Basically, the EU would get into taxation.

This money (taxation) would funnel into a bucket of money, which would be used to loan out to countries facing financial crisis episodes.

Where would the money come from?  Basically, his idea is to suggest a tax on anything that has to do with financial transactions.  You buy some pay this EU-tax.  You go and get a credit pay this EU-tax.  It's possible that it'd even get down into ATM situations, where you take out 300 Euro for the month, and there would likely be a Euro fee (tax) on that transaction (my humble thought).


Would the badly affected member ever be able to pay the money back?  Maybe.  Maybe not.

Wouldn't people get hyper about another tax?

Not to say it's a bad idea, but I doubt that this ever really solve many problems and just become another tax used for other purposes in the end.

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