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Thursday, June 19, 2008

Italy approves “Robin Hood” tax on oil profits

By realitybasedbob on June 19, 2008 at 07:56 am
6 Comments
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The Italian government approved a so-called “Robin Hood” tax on oil companies to fund aid for low-income households hit hard by increased food and energy prices.

Premier Silvio Berlusconi’s government has included the measure in a three-year budget plan approved Wednesday in a Cabinet meeting.

Economy Minister Giulio Tremonti told reporters that the money gained from the tax will be used in part to help senior citizens buy food and pay less for electricity. The association of Italy’s oil companies denounced the measure as “punitive.”

The budget plan must be approved by both houses of Parliament. It features cuts to reduce Italy’s public spending as well as development measures, including a plan to restart the country’s nuclear power program.

The rest of the world gets it; we can only hope that our electorate is as smart as the Italians.

By robert108 on April 15, 2008 at 12:54 pm

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Avatar for robert108

Pure economic stupidity.  You raise the price through taxation, then some of it trickles down through welfare.
You have to go to govt to get that kind of stupidity; or to rbb.

Save America; boycott the MSM.

robert108 on June 19, 2008 at 09:14 am
Bike Bubba

Lessee....Italy’s voters do one smart thing, according to 108, we therefore use 108’s comments to characterize actions by another entity, Italy’s government?

Suggest a bit of work on your logic, RCB.  After that, try some economics.  Making fuel more expensive does not make fuel more affordable for the poor.

Bike Bubba on June 19, 2008 at 01:59 pm
Avatar for Steve

Topeka, I have it!

Let’s increase Bob’s taxes and give the money to the poor.

Steve on June 19, 2008 at 03:40 pm
Avatar for Steve

Topeka, I have it!

Let’s increase Bob’s taxes and give the money to the poor.

Steve on June 19, 2008 at 03:41 pm
Avatar for Steve

Sorry, Bob, I only want to tax you once. wink

Steve on June 19, 2008 at 03:46 pm
Bat One

There are some things that Italians do extremely well.  Food… fine leather… Ferraris, to name three.  But government ain’t one of them.

George W. Bush is the 11th US president since World War II. In that same period, the Italians have had 60 changes of government.

“Poverty of goods is easily cured; poverty of the mind is irreparable.”

Bat One on June 19, 2008 at 08:55 pm
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