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German economists: make the rich buy bonds
thelocal.de ^ | 7-12-12 | unattributed

Posted on 07/12/2012 3:26:00 PM PDT by dynachrome

The German Institute for Economic Research (DIW) suggested that those with a substantial private fortune be forced to hand over 10 percent of what they have over €250,000.

This would hit the richest eight percent of the population and would not lead to the feared reduction of consumer demand, it said.

The tactic could be adopted to raise money in crisis-hit countries across Europe, the DIW said in a statement.

(Excerpt) Read more at thelocal.de ...


TOPICS: Business/Economy; Foreign Affairs; Germany; News/Current Events
KEYWORDS: confiscation; germany; taxtherich
"Yeah, that's the ticket!"/s
1 posted on 07/12/2012 3:26:07 PM PDT by dynachrome
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To: dynachrome

It’s not a mandate. It’s a tax!


2 posted on 07/12/2012 3:30:26 PM PDT by pogo101
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To: pogo101

It’s a mandated tax!


3 posted on 07/12/2012 3:31:27 PM PDT by dynachrome ("Our forefathers didn't bury their guns. They buried those that tried to take them.")
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To: dynachrome

Suggested by the St. Louis Fed in 2004 in a scholarly paper.


4 posted on 07/12/2012 3:33:40 PM PDT by Publius (Leadershiup starts with getting off the couch.)
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To: Publius

“Suggested by the St. Louis Fed”

Very possible with the maxist messiah in office.


5 posted on 07/12/2012 3:35:05 PM PDT by dynachrome ("Our forefathers didn't bury their guns. They buried those that tried to take them.")
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To: dynachrome

The St. Louis Fed paper was about taking people’s IRA’s and 401(k)’s, and coercing them into government bonds in the event of a financial crisis. The German suggestion is simply a version of the same idea.


6 posted on 07/12/2012 3:38:25 PM PDT by Publius (Leadershiup starts with getting off the couch.)
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To: dynachrome

er, “marxist” that is.


7 posted on 07/12/2012 3:39:15 PM PDT by dynachrome ("Our forefathers didn't bury their guns. They buried those that tried to take them.")
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To: dynachrome

Obama is going to read that and have a messy orgasm. The Robert’s decision gives him the perfect opening to demand that Americans buy bonds, or get “penalized” in the form of a punitive tax.

That giant sucking sound you are hearing is millions of dollars fleeing the US for offshore banking accounts.


8 posted on 07/12/2012 3:40:07 PM PDT by Ronin (Dumb, dependent and Democrat is no way to go through life - Rep. L. Gohmert, Tex)
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To: dynachrome

Oh yes! Call it a “wealth Tax!”

I call it outright organised THEFT writ large at the point of a gun.

Hanging...


9 posted on 07/12/2012 3:42:07 PM PDT by bill1952 (Choice is an illusion created between those with power - and those without)
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To: dynachrome

A wealth tax. This will not go down smoothly. Existing wealth is much harder for governments to find and extract than income. 100 K euros (in 500€ bills) could be stored in a small cigar box. Gold coins would be even more compact. And other valuble items such as rare stamps, books or paintings would not necessarily be recognized as wealth by the new tax nazis. Meanwhile, other stuff could also be passed off to relatives for safe keeping.
If like that happened in the US, especilly with increased gun sales, you can bet there would be more than a few Wacos.


10 posted on 07/12/2012 3:54:27 PM PDT by grumpygresh (Democrats delenda est; zero sera dans l'enfer bientot.)
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To: grumpygresh

“Existing wealth is much harder for governments to find and extract than income”

Maybe. Anything bought with a credit card is traceable, up to a certain point, I dunno how long. A case in point is that I need some of my mastercard records from 4 years ago. They were there and retrievable.


11 posted on 07/12/2012 3:58:28 PM PDT by dynachrome ("Our forefathers didn't bury their guns. They buried those that tried to take them.")
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To: dynachrome

Obamanomics comes to the Fatherland?

Or is it just a test run to work out the wrinkles before implementing the policy here in the Land Of The Formerly Free?


12 posted on 07/12/2012 3:59:39 PM PDT by Iron Munro (Ayn Rand: "In any compromise between food and poison, it is only death that can win")
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To: dynachrome
Why not just kill them and take it all?

That's where this class-warfare stuff is headed, and they know it.

13 posted on 07/12/2012 4:26:36 PM PDT by E. Pluribus Unum (Government is the religion of the sociopath.)
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To: dynachrome

“Maybe. Anything bought with a credit card is traceable, up to a certain point, “

So true. Debit cards, credit cards, checks, money orders, wire transfers, on-line transactions; all can be tracked and monitored by Uncle Sam via financial institutions. And of course you know that the Feds can find out what’s in your safe deposit box at the bank. Good luck trying to hide a registered account overseas. So it’s no shock that EU governments have restricted cash transactions and the purchase of gold and precious metals.

No wonder why coin shows are so popular.


14 posted on 07/12/2012 4:52:12 PM PDT by grumpygresh (Democrats delenda est; zero sera dans l'enfer bientot.)
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To: dynachrome

govt confiscation with an IOU given in return

yeah...awesome

I wouldn’t doubt its now being discussed in the 0failure WH


15 posted on 07/12/2012 4:58:14 PM PDT by sten (fighting tyranny never goes out of style)
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To: dynachrome

Time to dig out that Swiss Passport.


16 posted on 07/12/2012 4:59:51 PM PDT by Truth29
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To: dynachrome

Taxes reduces supply, thus reducing demand. They’re under the illusion that taxes increases demand.


17 posted on 07/12/2012 5:07:16 PM PDT by 4rcane
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To: grumpygresh
Yes, a wealth tax is probably even more destructive than an income tax, since it leads to hoarding wealth in sterile unproductive stores like gold and currency, rather than investing in things that will grow the economy and feed the bloated Saupreißn lounging in sinecures in the DIW.
18 posted on 07/12/2012 5:21:44 PM PDT by Lonesome in Massachussets (The Democratic Party strongly supports full civil rights for necro-Americans!)
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To: dynachrome

Wouldn’t make any real difference in the debt problem in the long run. You get what you produce in your own country.


19 posted on 07/12/2012 6:00:09 PM PDT by familyop ("Wanna cigarette? You're never too young to start." --Deacon, "Waterworld")
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To: dynachrome

The leftists should eat their own dogfood (a software developer term for testing your own software). I suggest a foreign exchange program where we send our leftists to spend a 5-year plan in Cuba, Venezuela, N. Korea, etc. In exchange we could get equal numbers of their citizens who want to escape.


20 posted on 07/12/2012 6:45:43 PM PDT by MtnClimber (To the left wrong is right, down is up and backward is "Forward")
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To: dynachrome

“Das sounden stampeden? Das iss der zound das Capital stampeden ouf dem Duetchland.”


21 posted on 07/12/2012 7:14:01 PM PDT by freedumb2003 (Guns Walked -- People Died -- Holder Lied -- Obama Golfed (thanks, Secret Agent Man))
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To: freedumb2003

Lachend aus laut!


22 posted on 07/12/2012 7:15:51 PM PDT by Publius (Leadershiup starts with getting off the couch.)
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