German Commerzbank Suggests Wealth Tax In Italy Next

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posted on Mar, 18 2013 @ 03:25 AM
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German Commerzbank Suggests Wealth Tax In Italy Next


www.zerohedge.com

Italy has no debt crisis (with net assets at 173% of GDP) - significantly more than the Germans at 124% - "so it would make sense, in Italy a one-time property tax levy," he suggested. "A tax rate of 15% on financial assets would probably be enough to push the Italian government debt to below the critical level of 100% of gross domestic product." So there you have it, the 'new deal' in Europe, as we warned, is 'wealth taxes' and testing the "capacity of Cypriots" appears to be the strawman on what the public will take before social unrest becomes intolerable
(visit the link for the full news article)




posted on Mar, 18 2013 @ 03:25 AM
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I am still frozen after reading this. Are they crazy? Don't they know what will this cause? Or is that the whole point? They just push and push and push...so what are you going to do? I can not see any other reason for those kind of actions but causing worldwide financial collapse and riots of angry mobs so they could impose some kind of martial law revoking our civil rights... I mean just think about it. Maybe it seems that I am going too far but if this really plays out, do you see any other possible outcome?

www.zerohedge.com
(visit the link for the full news article)



posted on Mar, 18 2013 @ 03:31 AM
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Take a 15% tax bite out of the rich. I got no issues with that.

However, I'm sure the rich have powerful friends who will be sure to make issues over it.



posted on Mar, 18 2013 @ 03:32 AM
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reply to post by alomaha
 


If you had any doubt in your mind.........Yes they want the house of cards to collapse and fast by the looks of it. This will spread out of the Euro like a out of control wild fire. If you live in Europe you need to get your money out of the banks and fast.



Oh look the fat lady is just about to get on stage.



posted on Mar, 18 2013 @ 03:33 AM
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Originally posted by Agit8dChop
Take a 15% tax bite out of the rich. I got no issues with that.



Unfortunately, financial assets include bank deposits.


An asset that derives value because of a contractual claim. Stocks, bonds, bank deposits, and the like are all examples of financial assets.

Investopedia




edit on 18-3-2013 by ollncasino because: (no reason given)



posted on Mar, 18 2013 @ 03:44 AM
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reply to post by ollncasino
 


....and that is unfortunate how?
i believe that was kind of the point
cant really provide any jobs with all that money tucked away...... sure as hell makes it easier to lend though
so whats more important to you a job or loan? (and i realize it isnt so black and white but in practice those are essentially going to be the results)

the article doesnt really provide much information but if this is done correctly it can be very effective and have very few long term problems (there will be short term problems as the wealthy refuse to invest or provide jobs and try to kick and scream to get their way but they ultimately have little choice....they will comply or be replaced by a new generation..... and i sincerely doubt that anyone who has invested that much of themselves into acquiring power will be willing to give it up)
edit on 18-3-2013 by sirhumperdink because: (no reason given)



posted on Mar, 18 2013 @ 03:49 AM
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Russia's top tax rate: 13%. Wealthy French are eyeing it, guess the Italians could join them.


 
Posted Via ATS Mobile: m.abovetopsecret.com
 



posted on Mar, 18 2013 @ 04:09 AM
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If they just take it from the "rich"(whatever this means?), I have no problem with it.
If they apply it to everyone than financial things will getting ugly really fast here.



posted on Mar, 18 2013 @ 04:09 AM
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Kremlin: Cyprus Deposit Tax 'Unfair' And 'Dangerous' - Interfax



posted on Mar, 18 2013 @ 04:13 AM
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reply to post by alomaha
 


not too sure that the kremlin has the best interest of italy or cyprus in mind (or any entity other than the kremlin including the rest of russia) ....thats all i really need to say about that
edit on 18-3-2013 by sirhumperdink because: (no reason given)



posted on Mar, 18 2013 @ 04:19 AM
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reply to post by sirhumperdink
 



O.K. than, how about this:


The great EU bank robbery: British taxpayers to bail out victims of outrageous raid


www.dailymail.co.uk...



posted on Mar, 18 2013 @ 04:21 AM
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Originally posted by sirhumperdink

....and that is unfortunate how?


Why should prudent people who save some money rather than spend every penny they earn be made to pay for the Italian government excesses? The Italian government spends every penny it receives in taxes and then borrows money it doesn't have to spend even more.


Originally posted by sirhumperdink
cant really provide any jobs with all that money tucked away...... sure as hell makes it easier to lend though
so whats more important to you a job or loan?


Money saved in banks doesn't just sit there doing nothing or is only lent out in consumer loans. It is invested elsewhere in the economy. For instance, lending to Small and Medium Sized businesses.


Originally posted by sirhumperdink
the article doesnt really provide much information but if this is done correctly it can be very effective and have very few long term problems


My objection to the confiscating of bank deposits is that it is a tax on the prudent to bail out spendthrifts.



edit on 18-3-2013 by ollncasino because: (no reason given)



posted on Mar, 18 2013 @ 04:32 AM
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reply to post by alomaha
 

so basically the EU has determined that the best response to the government of cyprus seizing assets in an attempt to pay its debt is to....... send more money! sounds like a smart plan to me

the response should have been to freeze all accounts in the EU that could be accessed by cyprus and reimburse the citizens of the EU who had their money seized with funds from those accounts as well as a slew of other options

and while i know for certain most (especially cyprians) people who got hit did not deserve it .....it sounds to me like a lot of these people were using cyprian banks and other financial services to avoid the taxes associated with using those based in the EU ....taking advantage of a situation present in cyrpus that was completely unsustainable
a lot of people like to call that karma
edit on 18-3-2013 by sirhumperdink because: (no reason given)



posted on Mar, 18 2013 @ 04:59 AM
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reply to post by ollncasino
 



saving isnt a problem....unless its in excess
you see money is supposed to be representative of a certain amount of goods or services and for goods and services to be exchanged in a system reliant upon money......the money must flow
if there is no flow of money goods and services stop being exchanged
this is why we have inflation ....more money needs to be printed and at a lower value in order to decrease the value of assets that have been horded and allow for a percentage of that value to be reintroduced into circulation (this usually doesnt work out very well but thats another subject entirely)

and im well aware of how banks work thank you i alluded to the fact that money kept in banks is used to make loans .....not too sure how well those reading comprehension skills are serving you
but the fact is there would be far less need for loans if there was more liquidity in the system in the first place so its kind of a moot point but thanks for playing

and as for your last point.... well that certainly could be the case in some instances but the fact of the matter is that hard work and dedication are not rewarded nearly as much as business savvy and a vacant conscious ....everyone thinks they work hard.....but self induced stress wasted time and an intense hatred for your job ....are not the same thing as hard work
theres corruption galore in every government no doubt but thats no reason to force the suffering of those who actually work for a living (if you have a problem with wasteful spending and sweetheart deals take that up with the politicians and corporate entities who wield them)
no the mistakes shouldnt have been made........but they were and now they need to be dealt with or there will be consequences so if you have some ideas awesome..... but there certainly are worse ways to go about it than they are
edit on 18-3-2013 by sirhumperdink because: (no reason given)



posted on Mar, 18 2013 @ 05:33 AM
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I'm having so much fun right now EU member myself,

I remember when news spread about Greece, and how people where saying well they got what they deserved those lazy people who don't deserve our money yada yada ya...

I remember watching the news and seeing this old Greek lady in tears and she screamed to the reported "All of you people from Europe, watch us, watch Greece we have become the guinea pigs of Europe"



posted on Mar, 18 2013 @ 05:36 AM
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In theory right, wouldnt much of the debt owed by nations be owed TO the rich?

So, effectively, if you take a 15% tax bite out of the rich, to pay off the debt you owe the rich arent the rich still rich?
edit on 18-3-2013 by Agit8dChop because: (no reason given)



posted on Mar, 18 2013 @ 05:43 AM
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Originally posted by Senduko
I remember watching the news and seeing this old Greek lady in tears and she screamed to the reported "All of you people from Europe, watch us, watch Greece we have become the guinea pigs of Europe"


Umm, no. I have heard it from Greek friends of mine years ago (and before the EU came to be) that the work ethics in Greece is not very strong (to put it very, very mildly). I also heard from my American friends who traveled there that cafes are always packed and Greeks do enjoy going out. Now put these parts of the equation together.

Greeks cannot and will not be "guinea pigs" for Germany. Or many other countries. They just aren't good at managing stuff and putting in long hours. There are nations out there who are.



posted on Mar, 18 2013 @ 05:55 AM
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reply to post by Senduko
 


Cyprus is the guinea pig as its a small economy but it will send out a very chilling shiver down the spines of anyone with large amounts of money in offshore accounts.



posted on Mar, 18 2013 @ 10:53 AM
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Originally posted by ollncasino
Money saved in banks doesn't just sit there doing nothing or is only lent out in consumer loans. It is invested elsewhere in the economy. For instance, lending to Small and Medium Sized businesses.


...and you are saying this based on what? That's not what's been happening in the US in the past 5 years, while the cash flow was good at many companies, and yet little went to be invested. "Sitting on cash" was the operative word. Things certainly change, but your statement is factually incorrect.



posted on Mar, 18 2013 @ 12:21 PM
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Originally posted by Agit8dChop
Take a 15% tax bite out of the rich. I got no issues with that.

However, I'm sure the rich have powerful friends who will be sure to make issues over it.

The Cyprus tax is 10% on every single bank account. Same thing they want to do in Italy......everyone's account. No votes, no choices, no say, and they closed the banks today in Cyprus so no one can do a bank run.

This is preposterous!!!!!!!!! I can't believe I've lived to a day that I'm witnessing this in my lifetime. Cyrus, then Italy, then Spain, Portugal, Ireland........ U.S. coming soon too.

Time to clean out my bank accounts and convert all to precious metals, seeds, land, greenhouses, etc.

Face palm!!!!!!!!!!!





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