R U 4 real????? bet you voted for the ALP, its the RICH and WEALTHY that employ people, we need the rich and wealthy.
Sounds like a good idea to me, the super conservative and the wealthy will be hit the hardest and that's how it should be, poor people living month to month don't have much in the bank so wont suffer much...a one off 10% tax, the pain will be short and it will be over quickly.
The wealthy would of benefited the most when the economy was riding high, so only right they pay the most.
The logic of class warfare is questionable at the best of times, let alone to the point of mutual destruction.Sounds like a good idea to me, the super conservative and the wealthy will be hit the hardest and that's how it should be, poor people living month to month don't have much in the bank so wont suffer much...a one off 10% tax, the pain will be short and it will be over quickly.
The wealthy would of benefited the most when the economy was riding high, so only right they pay the most.
I'm off to Cyprus with a ship load of safes
And a concrete truck.
Holes in the ground will become very popular.
Your entrenched sense of envy toward anyone with more money or perhaps just more ability to save and/or generate money than yourself is so extreme that it renders you irrational.Sounds like a good idea to me, the super conservative and the wealthy will be hit the hardest and that's how it should be, poor people living month to month don't have much in the bank so wont suffer much...a one off 10% tax, the pain will be short and it will be over quickly.
The wealthy would of benefited the most when the economy was riding high, so only right they pay the most.
Let's get them to invest their money and get Euro moving instead of sitting on it?
This seems like an harum-scarum action or idea and highly unfair to people who are saving small amounts of money for years. Not sure what they want to achieve but if it’s the further weakening of the Euro then it might just work. People all over Europe will lose trust in their banks.
I hope they considered possible consequences. :badass:
I'm not saying it's a good thing!Invest in what? Failed banks? Failed Businesses? Failed economy? With a guarantee of what? Failure of the investment?
Showing how stimulitory that consequence could be.I hope they considered possible consequences.
There is a lot of outrage, much of it legitimate, about the radical decision to impose a one-off levy on depositors. But aside from those advocating default, it is not clear what could have been done to fix the problem.
Radical and unprecedented problems require the consideration and implementation of radical and unprecedented solutions. This is why the deposit levy may not be all bad.
What else could be done?
Of course there could be yet higher taxes on profits, income or spending. These are, more or less, much the same difference as the deposit levy and much slower to collect, with market distorting effects.
The Cypriot government could have implemented a range of even greater cuts to social welfare, public services and entitlements. Again, this would have hit the community in much the same way as the deposit tax and would have been slower to accrue.
It was a case of name your poison. What would you prefer? Someone had to pay and had to pay quickly.
The benefit of the deposit levy is that it yields a large amount of revenue, and a significant proportion of it is paid by non-residents who for years have been parking what might be termed dodgy money in Cyprus. It is also quick.
Clearly, the levy will have a sharp negative impact on the economy in the short term and there will be a flight of capital as non-locals take their money away for fear of another levy being imposed at some stage down the track.
Read more: http://www.businessspectator.com.au...two-options-misery-or-suffering#ixzz2NrxmDwpS
OK... I am over it. Here's why.
The market probably will be over it by the end of the week.
OK... I am over it. Here's why.
The market probably will be over it by the end of the week.
Probably a good idea to watch the Euro to see how universal the sentiment is regarding weather this is being considered as some kind of precedent.
I'm not sure why the market cares. AFAICS, the only issue is if this spread to other countries. But it doesn't seem to be.
R U 4 real????? bet you voted for the ALP, its the RICH and WEALTHY that employ people, we need the rich and wealthy.
Your entrenched sense of envy toward anyone with more money or perhaps just more ability to save and/or generate money than yourself is so extreme that it renders you irrational.
It's not just the group that you would consider to be the idle rich who would be affected by this.
Yep it is the middle class that will be hit hardest. Or even those poor with a couple thousand int he back will still be slugged nearly 7%.
I dont see how you can think it is a good idea SC. What if someone had been saving for a medical expense (something like you are i beleive) and suddenly the gov takes 7% of that off you?
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