Truthout is a vital news source and a living history of political struggle. If you think our work is valuable, support us with a donation of any size.
Alex Brummer, The Daily Mail UK reports:
“Raising taxes is never normally a popular step for any Chancellor. But Alistair Darling is unlikely to encounter much opposition when he announces tomorrow that he has decided to impose a supertax on the ferociously large bonuses that bankers have earned on the back of the taxpayer….
“If ever there were a time when the nation could have expected the banks to show restraint it was over the last year. After all, without the enormous subsidies from taxpayers in Britain, the United States and on the Continent, many of the most famous names in banking would not even exist today….
“There can be little doubt that the Government’s decision to tackle the proposed bonuses to be paid by the banks is partly due to the naivety of the board of the Royal Bank of Scotland headed by Sir Philip Hampton and Stephen Hester. Their disclosure that the board had set aside an estimated £1.5billion for bonuses earned in 2009 – and that the bank’s directors were prepared to resign en masse if the authorities vetoed those bonuses – left the Government with little choice but to play hardball.”
Click here to read more.
A terrifying moment. We appeal for your support.
In the last weeks, we have witnessed an authoritarian assault on communities in Minnesota and across the nation.
The need for truthful, grassroots reporting is urgent at this cataclysmic historical moment. Yet, Trump-aligned billionaires and other allies have taken over many legacy media outlets — the culmination of a decades-long campaign to place control of the narrative into the hands of the political right.
We refuse to let Trump’s blatant propaganda machine go unchecked. Untethered to corporate ownership or advertisers, Truthout remains fearless in our reporting and our determination to use journalism as a tool for justice.
But we need your help just to fund our basic expenses. Over 80 percent of Truthout’s funding comes from small individual donations from our community of readers, and over a third of our total budget is supported by recurring monthly donors.
Truthout has launched a fundraiser, and we have a goal to add 242 new monthly donors in the next 48 hours. Whether you can make a small monthly donation or a larger one-time gift, Truthout only works with your support.