Two days after the original post here of Tuesday, December 8, 2009 explored a proposal for a Tax on BONUSES paid to people employed by Wall Street businesses, the Prime Minister of Great Britain and the President of France published an op-ed piece together in the Wall Street Journal. A one-time Tax on BONUSES was only one of the options they recommended. That was clearly stated.
The two leaders wrote much more about the need for a huge change in the way that salaries and bonuses and other payments are made to people like those paid by Wall Street Banks, on the one hand, and the rest of us on the other hand. Prime Minister Brown and President Sarkozy concentrated in particular on perceptions of equity that would be the results of a system with inherently greater equality. In other words, greater built-in Good Faith and Fair Dealing. See Gordon Brown and Nicholas Sarkozy, Op-Ed, Wall Street Journal, Thursday, December 10, 2009. (Unfortunately, as often happens, the op-ed piece cannot be found online at wsj.com, even if you are willing to pay the charges that the WSJ regularly imposes. However, if the print edition is available to you then so is this interesting op-ed column.)
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