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The BBPA is right to bemoan the punitive levels of duty in Britain.
Yet even these punitive levels of capital seem easily within reach.
But its handling of the crisis has been tough: interest rates were jerked up to punitive levels, and stability of a sort has returned within days.
Threadneedle Street could kill off the property boom by raising borrowing costs to punitive levels, but it has to be aware that there will be collateral damage to the rest of the economy.
The freedom to raise taxes on the rich to punitive levels will be similarly constrained by the mobility of capital and highly skilled labour.The main way in which governments can help their people through this dislocation is through education systems.
And even when governments raise the money, they should first get rid of deductions and reverse unmeritocratic measures (such as George Bush's repeal of America's death tax) rather than jacking up income-tax rates to punitive levels.
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That triggered the next line of defence from the central bank: an increase in interest rates from 45% to 60% coupled with a commitment to hold borrowing costs at that punitive level until December.
By not reining in the banks, slashing bonuses at AIG and raising taxes on anyone in America who makes more than a million dollars to a punitive level, they've given away America's wealth to the very people who created the crisis in the first place.
In 2007, the government introduced new regulations for fee-sharing systems for tourism occurring on community lands, effectively taxing these agreements at a punitive level in excess of 50%, thus greatly reducing revenues that communities receive from such arrangements (Snyder et al. 2011).
Exports are growing and the once punitive premium risk levels have fallen back to pre-crisis rates.
(Critics argue drug courts are essentially an extension of the criminal justice system and can be overly punitive to low-level offenders).
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