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Politics : Foreign Policy Discussion Thread -- Ignore unavailable to you. Want to Upgrade?

To: KLP who wrote (548)	12/16/2002 3:16:56 PM
From: Hawkmoon	Respond to of 15987

Speaking of Germany....LOOK at this tax!!!!! Have these folks gone crazy? Not crazy... just desperate... Their anger comes as the government of chancellor Gerhard Schröder this week prepares to unveil a unitary 25 per cent savings tax and an amnesty to encourage the repatriation of undeclared savings abroad. Expect to see the same thing occur in Japan.. This is effectively equivalent to a confiscation of gold as it's purpose is to get people to quit saving as if they were all going to be unemployed tomorrow, and encourage them to spend it. Ultimately, it's purpose is to spur domestic consumer demand, through coercive governmental policy. However, it can have the opposite effect and encourage capital flight from Europe to the US.... And some rationalize that this would have a benefit as well by depressing the Euro against the US dollar, thus maintaining the trade deficit.. Hawk