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Lessons From Cyprus: Could The Government Tax Our Deposits Too?

Friday, March 22, 2013 - 7:35 AM
From Credit.com:
Though we may be getting desensitized to European bailouts and the prospect of more of them, the recently proposed — and currently rejected — bailout in Cyprus is perhaps more likely to give us pause.

... All of this has nevertheless led to speculation about whether a similar situation could befall Americans. If American banks were in trouble, could they impose a tax on depositors? More importantly, if everyone rushed to take their money out of the bank in order to avoid the tax, would banks and ATMs shut down, as many have in Cyprus?

According to the Federal Deposit Insurance Corporation, your money is safe and you shouldn’t worry. 

... But is that an airtight guarantee?  Could the government step in and tax deposits on everyone to pay for a portion that bailout, as has been proposed in Cyprus?

 

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3
pearlbrownpearlbrown1,433 posts since
Nov 2, 2010
Rep Points: 6,255
1. Friday, March 22, 2013 - 9:10 AM
whether a similar situation could befall Americans. If American banks were in trouble, could they impose a tax on depositors? More importantly, if everyone rushed to take their money out of the bank in order to avoid the tax, would banks and ATMs shut down, as many have in Cyprus?

 

  Yes Yes Yes to all of it just look around you 


 What we have now is  "take from the ones that earned it and give it to the ones that Wont get off their %$#^es" plus the guys in office what do you think they been trying to do allready they dont care they dont have to worry they just want to be elected again

Its just another form of the same thing No Dont make govt smaller and tax less lets keep making govt bigger and tax more on the one that worked to get where they are who do they think give to all these charities and groups anyway?.  NO NO No not good enough we have to waste it and distribute it the goverment way.

Ever notice people on welfare have a child after a X years this is so they can stay on welfare because guidelines say they can as long as a child in household is under X years plus get sec8 to house them and so called parents of them. But they all have 24's on the jolopy and latest Iphone haning out off the ear and jordans on their feet. These things they can get in line for Oh no never a line to fill out an application at Walmart.

  

I remember working at a 7-11 in Islip when I lived in NY in my younger years and taking food stamps for items from people that would come in with a quartet of children all about 4years apart and were all dressed better than me had no older than 2yr old nice vehicle Im talkin a Infinity lexus 400 at the very least just to name a few. And here Iam driving a beaten down Pontiac T1000(Chevette for those who dont know) that I scrimped and saved to buy and insure.  

I believe if you want to be able to start to balance the buget you just got to say enough with the vouchers and programs.

if the people would just say it maybe the people that are in office would hear it. 

  

  

 
 
6
DuckDuck3 posts since
Jan 20, 2010
Rep Points: 29
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