Posted on 05/11/2011 12:11:20 PM PDT by tcrlaf
May 11 -- Ireland's government will impose a levy on domestic private pension savings, raising as much as 1.9 billion euros ($2.7 billion) to finance a job-creation program.
The government plans to apply an annual 0.6 percent charge over four years on pension assets, excluding funds providing benefits to non-resident employers and members, Finance Minister Michael Noonan said in Dublin yesterday. The move should generate 470 million euros ($675 million) a year, he said, adding pensions had received "massive" tax breaks in the past.
(Excerpt) Read more at sfgate.com ...
Oh, and they intend to issue unlimited Visa's to Chinese and Indian "tourists" as well, to boost tourism jobs!
Why, it seems like only yesterday we were being told about that “Irish Economic Miracle!” and about Ireland’s “Green Revolution!”, that ran out all those evil and dirty manufacturers, and replaced them with clean, green Finance sector jobs.
COMING SOON TO A BANKRUPT DEMOCRAT STATE NEAR YOU... Democrats are powerless without someone else's money to spend, so get ready for it.
Also as part of the package “The sales-tax rate on tourism-related products and services will be cut to 9 percent from 13.5 percent, while a travel tax will also be suspended, subject to conditions,...”
People like Jessy Jackson have been wanting to raid pension plan money for years to spend on inner city infrastructure here. So far they have been unsuccessful thankfully.
Do you think this will stop at 4-years? Hogwash!
Rush was talking about this today, and he said that this tax will not apply to government pensions and I believe he also said union pensions.
as first proposed by the Revhruuunnd Jesse Jackson in 1991...
Clinton proposed looking at doing this back in the 90’s, at a 15% tax rate. Lately other Rats and their fellow bedwetters have been hinting at doing this.
So the various levels of government have found another source of revenues to put off the default a little longer. It’s all going to be quite a big show.
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