Egypt's Morsi introduces, then abandons, massive tax hikes in 24 hours

Less than 24 hours after unveiling a heap of new taxes on everything from cigarettes and beer to cement and steel, the New Pharoah of Egypt has reversed course. Walk (back) like an Egyptian:

Stateside observers see parallels between two tax-happy, power-usurping leaders:


Yesterday: Egypt’s Mohamed Morsi reportedly amending decree, backing off sweeping power grab

  • whatthehell

    Saturday 14 Jul 2012: Clinton is set to ask President Morsi for a ‘clear cut commitment’ to the peace treaty with Israel, protection of domestic civil rights and liberties, and collaboration with military–days/Clinton-to-ask-Morsi-for-commitment-to-peace,-dial.aspx

    Compare: “Assad is a reformer”: — Hillary Clinton…

    Excellent judgment in wine-tasting in Australia, though.

  • $38218625

    At least Morsi knows when he’s wrong – unlike our Pharaoh, the exalted and magnificent Barack Hussein Obama.

    Who never met a tax increase he didn’t like.

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  • my preciousss!!

    .”..8 hours later: he shoves them back in his a**.” haha. well said!
    on the other hand, Barack Morsi, will not shove his plans to tax & redistribute wealth, back in his a**.