Today: Spains unemployment tops 24%. Barclay’s profit takes a 76% hit, due to fines imposed for mismangement of money.
Higher taxes over the past twelve years, would have spread that out over time.
So having higher taxes, means that every quarter, a small amount of money is coming from Barclays, and going towards the hiring of Spaniards. They could then pay their Barclay’s bill, and all would be happy.
There IS a reason America never experienced a Depression until we tinkered with the New Deal……
Make the wealthy pay higher taxes, just make them… If they complain, double the take until they shut their big fat mouth.