The US won’t be next. There are quite few in line ahead of us. I think the Eurozone Official quoted in Financial Times has it about right.
“If this is successful then it will be used in the future,” said the dejected official, predicting Spanish and Italian banks could face similar levies. “If this is not successful then who cares about Cyprus.”
But even if it’s a total disaster they are likely to try it again.
Bram
You have to take away all the guns before you do that crap.
some argue that Cyprus was “one of the biggest money-washing machines for Russian criminals,”
More evidence that we cannot end the War on Drugs “because there is too much money involved.”
Neil
I’ve been assuming for the last 15 years that the Treasury would eventually confiscate at least a portion of tax-deferred retirement accounts. Of course, they’ll give you a “savings bond” in return. Whatsamattayou? Ain’t you patriotic enough to buy a Victory bond?
I’m with Will. We won’t be next. But we are in line – and maybe not that far down. Also see Bram’s comment, because there will be some serious opposition to any such idea.
[…] ongoing horror story about the confiscation of the savings of ordinary people led M. Simon to ask a question more people ought to be asking. Some one has to pay for the welfare state. Will […]
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8 responses to “Wealth Taxes Hit Europe”
The US won’t be next. There are quite few in line ahead of us. I think the Eurozone Official quoted in Financial Times has it about right.
“If this is successful then it will be used in the future,” said the dejected official, predicting Spanish and Italian banks could face similar levies. “If this is not successful then who cares about Cyprus.”
But even if it’s a total disaster they are likely to try it again.
You have to take away all the guns before you do that crap.
some argue that Cyprus was “one of the biggest money-washing machines for Russian criminals,”
More evidence that we cannot end the War on Drugs “because there is too much money involved.”
I’ve been assuming for the last 15 years that the Treasury would eventually confiscate at least a portion of tax-deferred retirement accounts. Of course, they’ll give you a “savings bond” in return. Whatsamattayou? Ain’t you patriotic enough to buy a Victory bond?
Neil, I think you will be proven right, and possibly soon.
http://azstarnet.com/business/local/more-than-percent-of-americans-raiding-k-s-to-pay/article_6c05f25d-cc28-57d6-a2e0-46a2540118d9.html
@ Bram: They are working on that.
I’m with Will. We won’t be next. But we are in line – and maybe not that far down. Also see Bram’s comment, because there will be some serious opposition to any such idea.
Kathy,
They will get the guns. There are pro gun people I’m in conversation with who think the California confiscations are OK.
People who think commission of a felony or just the accusation of that are perfectly valid reasons for abrogating your RIGHT of self defense.
People who think that getting at pot heads is a wonderful reason to deny the RIGHT of medicine to those in need.
People who think that laws supersede RIGHTS. People who have lost the spirit of Rebellion.
We are in for a very rough ride.
[…] ongoing horror story about the confiscation of the savings of ordinary people led M. Simon to ask a question more people ought to be asking. Some one has to pay for the welfare state. Will […]