The International Monetary Fund has proposed a world wide tax on all financial institutions on both profits and pay. This financial activities tax (FAT) is designed to deal with the problem of financial institutions getting too big. Can anyone name a financial institution bigger than a government? What makes a bunch of bureaucrats think they aren't just going to make things worse, which they usually do? The term "sovereignty" seems to have almost as much meaning to world governing body as the word "constitutional" means to President Obama.
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