You may get some of them...once. After that they flee the country like the White Russians fled the USSR.
Posted on 08/30/2012 10:50:50 AM PDT by chuckee
As part of the global push to tax the rich, Britain is now debating an “emergency” wealth tax. But the idea has hit fierce opposition from conservatives, who say the “politics of envy” hasn’t made the country rich.
Deputy Prime Minster Nick Clegg, leader of the Liberal-Democrat Party, has proposed a one-time tax on the wealth (rather than the incomes) of high-net-worth Britons. The details aren’t clear, but Clegg says the country is facing an economic war caused by a prolonged recession, and needs to tax the rich in order to avoid social unrest.
He told the Guardian that unless the country “hardwired fairness” into the budget, “I don't think the process will be either socially or politically sustainable or acceptable."
Chancellor George Osborne shot back, saying the plan would chase out the rich and make the odds of full recovery even worse. Bernard Jenkin, the chair of the House of Commons' public administration committee, told the BBC that the tax could strangle the golden geese of Britain. “If the politics of envy made a country rich, we'd be very rich … Most rich people are contributing far more in tax than other people." ...
(Excerpt) Read more at cnbc.com ...
The beast needs to be fed and income taxes aren’t enough. Until they stop the spending, these taxes will continue to be entertained. The one small silver lining in the otherwise dark cloud is that a tax like this would hit a hypocrite like Buffett just like anyone else. He’s all for an income tax because he already made his money. Let’s see if he’s for a wealth tax.
But don’t you DARE call them Communists.
Britain is long down the road to wealth confiscation with stagger estate taxes for over 50 years. Britain in the seventies was a basket case, and it looks that they are headed back into the hamper.
No mention in the article as to whether it would apply to the royals who are probably the wealthiest in the country.
I expect we will be looking at this and worse of Obama manages to get another term.
They have been lusting after everyone’s 401K balance for over a decade now. Other taxes I think will be on the table are a VAT, the Tobin Tax (tax on financial transactions) and applying FICA to very high levels of income. Perhaps every last dime.
I’m sure the royals believe they are above the law, just like our elected elites. I’ll respect Congress when they live under the same Social Security and healthcare as the rest of us.
Maggie Thatcher pulled them out of the toilet...That’s the kind of leadership we need now.
It’s a bitter pill, but it worked.
“The beast needs to be fed and income taxes aren’t enough. Until they stop the spending, these taxes will continue to be entertained.”
When you get your spending under control as we in the UK have and you drag your credit rating back up to our triple-A, get back to me.
Does anybody not believe that Obamugabe wouldn't LOVE to do this, too?
Actually, I think the FedGov is doing taking wealth on the down-low NOW by pushing people's 401(k)s out of Money Market funds and into Government Bonds.
Check it yourself: did you lose your MM option on your 401(k) recently? We did.
Those French emigres are just too juicy a target, aren’t they? BTT
...Does anybody not believe that Obamugabe wouldn’t LOVE to do this, too?
Re Elect this right of Lenin Marxist and see how fast he takes it by executive findings!
Actually, I think the FedGov is doing taking wealth on the down-low NOW by pushing people's 401(k)s out of Money Market funds and into Government Bonds.
Check it yourself: did you lose your MM option on your 401(k) recently? We did.
______________________
If the government is grabbing my 401K, I'll drain every dime out while I can before the new year starts - regardless of penalty.
Thanks for the heads up, will check out our options.
Wow, the “Conservatives” actually doing something conservative for once, opposing the communist liberals and labor. I still think they lost all spine after Thatcher. Lib/Lab/Con are as bad as each other nowadays and have passed power around while selling the nation’s sovereignty to multi-national bureaucrats and allowing a silent Muslim invasion. It’s hard to have sympathy. I am waiting patiently for Europeans to wake up to the fact that Breivik’s methods were evil, but his concerns were correct. Europe’s leftist leaders are putting a gun to the continent’s head in more ways than one, and if we re-elect Saul Alinsky 2.0, we’ll be doing the same.
Where do the Rothchilds reside? I’d bet not in England, as if it would matter anyway. It was reported recently (do a web search) the Rothchilds family’s combined wealth is approx. $500 trillion. I recall in 1969 it was reported in the Sacramento Bee that the Rockefeller family wealth was more than the entire US governments. One can imagine what it is today. Bill Gates is deemed the richest person in the world but in comparison, he’s a piker compared to the old wealth that exists. Paul Warburg represented the Rothchilds banking empire in 1913 and both the Rothchilds and Rockefeller families were instrumental and obviously huge benefactors in the getting the Federal Reserve Act of 1913 signed into law. I understand that a family member (David Rockefeller) or a representative of each family still sits on the executive board of the US Fed Reserve. These families are literally wealthy beyond belief and the US is now broke. Go figure.
You may get some of them...once. After that they flee the country like the White Russians fled the USSR.
This is what our country is facing. While Rome is buring the media is fiddling with race and abortion issues. A cover for the real story.
“You may get some of them...once. After that they flee the country like the White Russians fled the USSR. “
As long as they do not flee across the channel to the Eurozone. As in fleeing Hiroshima for Nagasaki. If Britain can propose this insanity of asset tax first, continental Western Europe which is generally to the left of the UK must be asleep at the switch.Once the social entitlements start getting squeezed and the millions start showing up in the public square,wealth tax proposals are not far behind. Obama would not even need a crisis to propose such a thing.
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