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Genuine question, not a rhetorical one - can anyone explain to me how removing the cap on top bankers bonuses helps the economy? Is it as simple as - "Theyll be able to spend a lot more"?
An uneducated guess would be that those 'top bankers' would be encouraged to make more money for their banks. And banks make their money from (mainly, I believe) investing in burgeoning businesses by lending them huge sums of money at extortionate rates of interest. These businesses (as well as the banks) then pay lots of taxes (And please don't come back with 'some don't pay any tax?' As I said, this is an UNeducated guess!) as well as employing people, who make and then spend money and also pay taxes.
I don't suppose that this measure will be the only potential cure that he's thought of and implemented, but surely we all realise that we cannot just go on borrowing more and more from the world's usurers to pay our way and make us all comfortable.
Abdel Moneim Abouel Fotouh, one of the leading contenders in the Egyptian presidential race, has been making his stance clear on the Army generals' business empire.
Part of Abouel Fotouh’s campaign...
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Doing Business With The Generals.
Good luck to Fotouh it will be a dangerous task to rein in the military business interests when the military are the best-organized institution in Egypt and the...
Former security official: 75% of the state budget must be directed to security.
Former Assistant Interior Minister Ashraf Amin blamed the government for failing to issue legislation supporting...
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Personally, I don't see that Egypt has security issues.....at least not on the scale of many of its neighbours. And if the government is daft enough to divert funds from much needed socio-economic...