Skip to comments.Wealth tax to pay for EU bail-outs (Here we go)
Posted on 04/15/2013 2:43:35 AM PDT by Sir Napsalot
Wealthy households would face new taxes on property and other assets under German plans to prop up the struggling eurozone.
Senior advisers to Chancellor Angela Merkel are pushing for better-off households to pay towards the cost of any future bail-outs for the weaker members of the single currency.
The proposals, from members of Germanys council of economic experts, raise the prospect of taxes being imposed on property in a country like Spain if its government was forced to seek a bail-out.
The council, known as the Five Wise Men, is often used to test new policies that are later adopted officially.
The German suggestion is the latest sign that Berlin is intent on imposing even tougher rules on weaker southern euro members in exchange for using its economic might to support their finances.
As well as inflaming tensions between Germany and its smaller southern partners, the suggestion could also mean that Britons with holiday homes are dragged deeper into the eurozone crisis.
Senior figures in Germany are now arguing that some richer home owners in countries like Spain, Portugal and Greece have so far avoided paying their fair share to rescue the euro, leaving Germany paying too much.
Taxes on property or other assets would mark a significant change in Europes approach to funding bail-outs for eurozone members. Until now, the cost of rescue packages for countries like Ireland, Greece and Portugal has fallen largely on people who invest money in either those countries bonds or in the case of Cyprus bank accounts.
(Excerpt) Read more at telegraph.co.uk ...
I guess the bright side is that the Limousine Liberals will finally feel the bite of their Socialist Idealism.
Imagine the hue and cry if the U.S. was to fully pull out of the bases we maintain there? The EU just might have to start spending more there instead of on Social Welfare programs.
When they are confiscating wealth, the game is almost up.
When those children screamed and cried as they were about to be murdered... did none of those soulless creatures see the tears?
These unspeakable atrocities break my heart. I SO wish I could get five minutes alone with that demon Gosnell.
Sorry all... That was for the other thread...
They need to adopt Maryland’s “Rain Tax”.
LOL, O’Mally wants to be President, he will take his rain tax with him wherever he goes.Hopefully it will haunt him to his dying day.
I need someone to tell me why any person in this strange new world of Prosperity sharing would work to make themselves comfortable.
Be one of the poor and live off someone elses prosperity.
You work to make yourself comfortable feed your family and better your lifestyle.Your lifestyle reachs a point where the government feels you have earned enough and they take the rest away and give it to those who will not work.
Be one of those who don’t work and scam the system.
That is the easy way.
I'm all for it. Does anyone think the defense of Western Europe is worth U. S. blood and treasure anymore?
It happens to many of us at some point.
It's been a long time since we've fought a war to directly defend our own country. There's a "race war" going on right now, right here and all we do about it, at best, is try to defend ourselves. At worst, sit back and take it. Unfortunately, our government and Commander in Chief are on the wrong side of that war
Nobody ever won a war by playing defense only.
I think government should pay for it, by cutting spending, employees and selling off state assets
Wouldn’t bet on it.
there are faster ways to seize wealth
like by first devaluing it, on a very large scale
makes it easier to swoop in and take control of, for those who set it up and are prepared
They cant do that! It would set back socialism by decades!
The Germans have had Wealth Tax before. It wouldn’t be hard to bring it back. The citizens of Germany will always dutifully believe what the government tells the. Yes, there would be a few people wailing about it, but it would be accepted like all the other Taxes, including Global warming. Just a different mindset there.
So the "wise men" of Germany think the solution to out-of-control spending is to raise taxes on the wealthy. And when spending then outstrips this tax increase, what then? More taxes? Or is it then time for hyper-inflation?