Tax hikes all over the world are causing an uproar
- Japan has a tax plan that is causing a political party rift – that is to double the sales tax by 2015.
- The UK – will tax “pasties” a kind of hot meat pie snack with a 20% sales tax.
The common man loves pasties and it is considered a class war issue.
- In India Finance Minister Pranab Mukherjee said the government will consider imposing a tax liability on foreign institutional investors. This would mean financial firms and brokerages licensed in India could be liable to pay taxes and cause a lot of companies to reconsider their relationship with the country.
- Canada’s conservatives in government want to raise the retirement age and cut major public services. They figure that this austerity move will balance the budget in 4 years.
No free ride
People never like tax hikes but want services so somebody has to pay. Obama has a bad problem getting anything tax related plan no matter how positive it is passed with the GOP road block and people like Cantor, Boehner and Grover Norquist doing anything they can to defeat his proposals based only on politics and never considering what is best for the majority of Americans. (Apparently this is an opinion that some might disagree with).