Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
You eventually will run out of other peoples money the downfall of every socialist utopia.
That was going to be my response to Jimj's question of "will this be enough or will they come for mine next?"
It never seems to be enough. Governments are nothing but money-sucking machines. No matter how much they have it is never enough, and if government is inept (at best) and corrupt (at worst) their money-sources are a continually moving target. $250,000 is now considered rich in this country. When taxes from those folks doesn't satisfy the government-appetite they will reconfigure their definition of rich.
As an aside, I hope we in this country never get it into our heads to align ourselves with any organization similar to the EU (like a North American Union for example). Listening to other countries dictate policy to Cyprus or Greece or Spain makes me queasy. Tying yourself into a union of countres means giving up independence to run your own country as you see fit.
Reminds me of the Borg. I don't ever want to be part of the collective.
That was going to be my response to Jimj's question of "will this be enough or will they come for mine next?"
It never seems to be enough. Governments are nothing but money-sucking machines. No matter how much they have it is never enough, and if government is inept (at best) and corrupt (at worst) their money-sources are a continually moving target. $250,000 is now considered rich in this country. When taxes from those folks doesn't satisfy the government-appetite they will reconfigure their definition of rich.
Another thing people fail to realize is taxation, economy, your paycheck is all inter-related. It does not have to be a direct increase in your taxes to have a negative effect. But it is too late now, what is done is done.
As an aside, I hope we in this country never get it into our heads to align ourselves with any organization similar to the EU (like a North American Union for example). Listening to other countries dictate policy to Cyprus or Greece or Spain makes me queasy. Tying yourself into a union of countres means giving up independence to run your own country as you see fit.
Reminds me of the Borg. I don't ever want to be part of the collective.
juneaubound these are my sentiments exactly. I will never vote for a presidential candidate that wants higher taxation. Even though it may be the other guy, it will not be enough and they will move down the income ladder and come after me next.
Stop it before they get to us. I am surprised the American people were naive and bought into tax the other guy.
With Cyprus we see yet another example of how well the government is with money. They see it's citizens as the piggy bank. Can you imagine saving all your life so you can retire at a reasonable age then the government because of their lack of ability to control spending just comes in and takes it. And you can only keep going after the same group of people only so many times.
I read an article and within the article it said, when a democrat is in office I am considered rich. When a republican is in office I am considered middle class. The current situation is a good example. Being rich is subjective and people were surprised that Obama who ran on the tax the rich rhetoric used $250K as the starting point for being rich. The reason he pulled doctors, small business owners into the same group as bankers is for taxation purposes.
With Cyprus we see yet another example of how well the government is with money. They see it's citizens as the piggy bank. Can you imagine saving all your life so you can retire at a reasonable age then the government because of their lack of ability to control spending just comes in and takes it. And you can only keep going after the same group of people only so many times.
This is heartbreaking. The amounts they are taking are much higher than previously thought. It is confiscation and it will affect some older people who saved all their lives and count on that savings to live and pay expenses. When they seize money from the rich they also get responsible middle class people who are not rich but tried to save something over years for their old age. Interesting how the lefties are quiet about that.
The government is currently taking away incentives to do what you say saving so you can retire or whatever else you want. They want your money in the "system". CD rates are down to nothing. I've heard penty of talk about removing the pre tax incentive to put money into 401K's, health savings accounts have been reduced, zero interest loans abound to get you to sign your name to owe they "system" for years. On and on. They don't want people being responsible, paying their bills, saving their money, you know the responsible things. They want you to owe and then when the time comes they will own you.
This is heartbreaking. The amounts they are taking are much higher than previously thought. It is confiscation and it will affect some older people who saved all their lives and count on that savings to live and pay expenses. When they seize money from the rich they also get responsible middle class people who are not rich but tried to save something over years for their old age. Interesting how the lefties are quiet about that.
Merkel got exacty what she wanted. They origionally asked for 40% of all deposits, then the screams came and it was changed sothe folks with accounts under 100K were left out because they were the ones screaming the most so they say oh ok you can have yours now they get their 40% of those over 100K which is what they probably wanted to begin with and the loudest screamers are silent because it isn't them who has to pay. They will eventually they just don't know it yet.
This is heartbreaking. The amounts they are taking are much higher than previously thought. It is confiscation and it will affect some older people who saved all their lives and count on that savings to live and pay expenses. When they seize money from the rich they also get responsible middle class people who are not rich but tried to save something over years for their old age. Interesting how the lefties are quiet about that.
And with each year, the definition of "rich" changes and includes more people who would never consider themselves rich by any standard.
Rich used to mean millionaires. Now it's upper middle class workers earning paychecks.
Are you really "rich" if you have to work for a living ?
This is heartbreaking. The amounts they are taking are much higher than previously thought. It is confiscation and it will affect some older people who saved all their lives and count on that savings to live and pay expenses. When they seize money from the rich they also get responsible middle class people who are not rich but tried to save something over years for their old age. Interesting how the lefties are quiet about that.
Exactly. They are taking a huge chunk of money directly out of peoples bank accounts. People who have 100,000.00 EUR in the bank will suffer the losses.
At this moment this converts to people who have $128,808.20 in the bank account. That is not rich but the government is calling them rich.
And with each year, the definition of "rich" changes and includes more people who would never consider themselves rich by any standard.
Rich used to mean millionaires. Now it's upper middle class workers earning paychecks.
Are you really "rich" if you have to work for a living ?
Obama ran on the rich being people who made $250K a year. Republicans fought it because they know it would hurt the economy and included small business owners who run flow throughs (layoffs). At this income level it included Doctors, dentist, other high income "wage earners",... people who work for a living. They are not the big bankers.
According to Obama and the Democrats even if you work for a living you are rich. There are actually people who actually believed these people had private jets, drink my ai Tai's on the beach all day.
Cyprus is just another example of how government goes after responsible people and uses them as a piggy bank.
Exactly. They are taking a huge chunk of money directly out of peoples bank accounts. People who have 100,000.00 EUR in the bank will suffer the losses.
At this moment this converts to people who have $128,808.20 in the bank account. That is not rich but the government is calling them rich.
They tell you it's the greedy, cheating Russian money they seized.
But the uber wealthy, the ones with the money have already fled Cyprus banks.
Only the small fries were left for the pickings.
Big money gets a phone call and will never get caught up in the workings of governments.
These sovereigns along with the ECB/IMF are not stupid.
Latvia, for example, saw a big increase in Russian deposits in their country before the Cyprus shutdown.
The ECB/IMF see the transfers going on.
Big Russian Money Out of Cyprus; Crisis Endangers Flows
One Cyprus-based lawyer reckons that $2 billion in Russian money fled in the 10 days before banks were shut down this week while Nicosia argued over an EU bailout. Phones are ringing from Malta to the Isle of Man as that cash seeks a new safe haven.
They tell you it's the greedy, cheating Russian money they seized.
But the uber wealthy, the ones with the money have already fled Cyprus banks.
Only the small fries were left for the pickings.
Big money gets a phone call and will never get caught up in the workings of governments.
These sovereigns along with the ECB/IMF are not stupid.
Latvia, for example, saw a big increase in Russian deposits in their country before the Cyprus shutdown.
The ECB/IMF see the transfers going on.
Big Russian Money Out of Cyprus; Crisis Endangers Flows
One Cyprus-based lawyer reckons that $2 billion in Russian money fled in the 10 days before banks were shut down this week while Nicosia argued over an EU bailout. Phones are ringing from Malta to the Isle of Man as that cash seeks a new safe haven.
100,000.00 EUR = 128,932.02 USD
Yea, so in US terms, that means anyone with $128,932.02 would be considered the cheating Russian money. Actually in the U.S. it was not much different. Obama, Democrats and Liberals group people at $250K as the "big bankers".
Same difference.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
