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To: shades who wrote (84096)	7/24/2007 8:37:24 AM
From: Crimson Ghost	Respond to of 110194

Globalisation backlash in rich nations By Chris Giles in London Published: July 22 2007 18:11 \| Last updated: July 22 2007 18:11 A popular backlash against globalisation and the leaders of the world’s largest companies is sweeping all rich countries, an FT/Harris poll shows. Large majorities of people in the US and in Europe want higher taxation for the rich and even pay caps for corporate executives to counter what they believe are unjustified rewards and the negative effects of globalisation. Call for more tax on rich Daily View: Chris Giles on unease about globalisation Viewing globalisation as an overwhelmingly negative force, citizens of rich countries are looking to governments to cushion the blows they perceive have come from the liberalisation of their economies to trade with emerging countries. Those polled in Britain, France, the US and Spain were about three times more likely to say globalisation was having a negative rather than a positive effect on their countries. The majority was smaller in Germany, with its large export base. Corporate leaders fared little better, with 5 per cent or fewer of those polled in the US and all large European economies (except Italy) saying they had a great deal of admiration for those who run large companies. In these countries, between a third and a half said they had no admiration at all for corporate bosses. In response to fears of globalisation and rising inequality, the public in all the rich countries surveyed – the US, Germany, UK, France, Italy and Spain – want their governments to increase taxation on those with the highest incomes. In European countries, a large majority want governments to go further and to impose pay caps on the heads of companies. Europeans still overwhelmingly support the principle of free competition within the European Union, contrary to Nicolas Sarkozy’s wishes at the recent European summit, but in France, Germany and Spain, the populations want their political leaders to play a larger role in managing their economies. The depth of anti-globalisation feeling in the FT/Harris poll, which surveyed more than 1,000 people online in each of the six countries, will dismay policy-makers and corporate executives. Their view that opening economies to freer trade is beneficial to poor and rich countries alike is not shared by the citizens of rich countries, regardless of how liberal their economic traditions. The issue of rising inequality is now high on the political agenda of every country and will feature prominently in the 2008 US presidential election. ft.com

To: shades who wrote (84096)	7/24/2007 2:08:18 PM
From: John Vosilla	Read Replies (2) \| Respond to of 110194

Paulson, Kudlow and Bush see a booming stock market and low unemployment from their ivory tower and feel all is okay.. Certainly most Americans believe something is wrong from the record low poll numbers.. I guess if Paulson keeps the pump going long enough the housing bust will be over, the Iraq war will be over Bush will be long gone.. But how much longer can we stand a constant 7-10% annual devaluation of our dollars without ramifications?

To: shades who wrote (84096)	7/25/2007 9:27:31 AM
From: Oblomov	Read Replies (4) \| Respond to of 110194

Companies don't pay taxes. The taxes collected from corporations come from customers (in the form of higher prices) and employees (lower wages/benefits). The vast majority of companies are not transnational giants capable of moving assets from one jurisdiction to another to minimize tax liabilities. In a desire to rein in the perceived abuses of a handful of companies, the politicos inevitably miss their mark and smack instead the owners of plumbing supply stores, paving companies, pastry caterers, bicycle tire manufacturers. Do you make a distinction between these "good" corporations and the "bad" corporations?