Skip to comments.German economists: make the rich buy bonds
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 ...
It’s not a mandate. It’s a tax!
It’s a mandated tax!
Suggested by the St. Louis Fed in 2004 in a scholarly paper.
“Suggested by the St. Louis Fed”
Very possible with the maxist messiah in office.
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.
er, “marxist” that is.
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.
Oh yes! Call it a “wealth Tax!”
I call it outright organised THEFT writ large at the point of a gun.
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.
“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.
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?
That's where this class-warfare stuff is headed, and they know it.
“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.
govt confiscation with an IOU given in return
I wouldn’t doubt its now being discussed in the 0failure WH
Time to dig out that Swiss Passport.
Taxes reduces supply, thus reducing demand. They’re under the illusion that taxes increases demand.
Wouldn’t make any real difference in the debt problem in the long run. You get what you produce in your own country.
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.
“Das sounden stampeden? Das iss der zound das Capital stampeden ouf dem Duetchland.”
Lachend aus laut!