A global financial-transactions tax?

United Nations experts are touting the idea as a way of redistributing money from richer to poorer countries [Global Governance Watch, Dan Mitchell/Cato at Liberty, Nile Gardiner/Telegraph] Not incidentally, it would carry a potential for greatly augmenting the power of the fledgling transnational governing class, by at last giving them a source of funds not based on individual state contributions [Jacob Mchangama & Aaron Rhodes, NRO] (& welcome Above the Law readers)


  • To paraphrase: Money corrupts and absolute money corrupts absolutely. All this would do is create a hugh pile of money for corrupt countries to steal or inept ones to waste.

  • bad idea.

  • Only the bureautrash could take this idea seriously. The idealistic language – purple prose and no substance – marks this as a naked grab for power. There is zero chance that anything suggested will come to pass. They just can’t stand the fact that we still have the option of ignoring them.