Friday, February 24, 2012

"Fiscal Devaluation"

Gavyn Davies notes in the FT that an increased VAT offset by a cut in payroll taxes in effect gives you a devaluation by increasing the price of imports and decreasing the price of exports. This is what Sarkozy has proposed, and it's a good idea. Davies also advocates a temporary cut in corporate taxes, which Obama has proposed in the US.

Le Pen's Flabbergasting Behavior

For a candidate who still (allegedly) does not have the parrainages she needs to appear on the ballot, Marine Le Pen last night seemed intent on giving those who wish to keep her out all the ammunition they need. It is hard to argue on principle that democracy requires her inclusion when she excludes herself from debate and ostentatiously reads her newspaper when given the opportunity to defend her political position against attacks from the left. Jean-Luc Mélenchon demonstrated that it is possible to be as angry and contemptuous as one wishes while still advancing an argument. Le Pen's intransigence may be taken as a sign of the intransigence she would display if she ever achieved power over anything. Her performance may have pleased the hard core of FN voters, those who are truly contemptuous of democracy, but she may lose some more recent converts as clips of her outrages are played over and over on TV.

Marine Le Pen refuse le débat avec Jean-Luc... by lemondefr