gov't to withdraw 10% from everyone's bank accounts

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gov't to withdraw 10% from everyone's bank accounts

Postby saxitoxin on Sat Mar 16, 2013 1:16 pm

If you have an account in Cyprus ... too late!

http://m.aljazeera.com/story/2013316153138495325

In other news, mattress sales have gone through the roof.
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Postby 2dimes on Sat Mar 16, 2013 1:43 pm

Fun. As bad as it sounds though. If it helps keep value in the remaining money so you don't lose 100% it might be a blessing in disguise.
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Re: gov't to withdraw 10% from everyone's bank accounts

Postby Night Strike on Sat Mar 16, 2013 1:44 pm

Governments will always work to take money away from the people in order to line their own pockets.
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Re: gov't to withdraw 10% from everyone's bank accounts

Postby crispybits on Sat Mar 16, 2013 2:19 pm

Sucks if you've just taken out a massive loan for home improvement or to buy a car or something and havent spent it yet
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Re: gov't to withdraw 10% from everyone's bank accounts

Postby patches70 on Sat Mar 16, 2013 2:29 pm

Haha! I know, that's so bad. In related news, there is a bulldozer parked in front of a Cypriot bank-

http://www.youtube.com/watch?feature=pl ... gGV3-lNfKU

If you'd just had 9.9% of your money stolen and the rest was completely inaccessible, you'd park your bulldozer in front of the bank as well.....


Oh, wait, that money wasn't stolen, was it? It's been "forcefully reinvested" into the equity of the bank.

Ha ha! What a debacle. It's all fun and games until you run out of other people's money, then it's your money they come for. Welcome to Collectivism you saps!
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Postby 2dimes on Sat Mar 16, 2013 2:32 pm

I think it will be "forcefully reinvested" into the failing government's share in the Euro.
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Re:

Postby patches70 on Sat Mar 16, 2013 2:36 pm

2dimes wrote:Fun. As bad as it sounds though. If it helps keep value in the remaining money so you don't lose 100% it might be a blessing in disguise.



A blessing? Hmmm, they've got their money stuck in a bank that is insolvent. A real blessing that is! You think this "bank levy" actually addresses the underlying causes that made this measure necessary? You actually believe anything that comes from the mouths of the Eurogroup?

Hilarious.
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Re: gov't to withdraw 10% from everyone's bank accounts

Postby AAFitz on Sat Mar 16, 2013 3:28 pm

Night Strike wrote:Governments will always work to take money away from the people in order to line their own pockets.


Unlike Individuals, churches and corporations.
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Postby 2dimes on Sat Mar 16, 2013 3:56 pm

Why yes I am amused that people here didn't read what the 10% will actually be taken from.
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Re: gov't to withdraw 10% from everyone's bank accounts

Postby Metsfanmax on Sat Mar 16, 2013 4:06 pm

AAFitz wrote:
Night Strike wrote:Governments will always work to take money away from the people in order to line their own pockets.


Unlike Individuals, churches and corporations.


Indeed. Isn't taking 10% of your income a core tenet of the theology that the Christian churches preach? I suppose God needs to line his pockets just as much as the next guy.
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Re: gov't to withdraw 10% from everyone's bank accounts

Postby rishaed on Sat Mar 16, 2013 4:38 pm

Metsfanmax wrote:
AAFitz wrote:
Night Strike wrote:Governments will always work to take money away from the people in order to line their own pockets.


Unlike Individuals, churches and corporations.


Indeed. Isn't taking 10% of your income a core tenet of the theology that the Christian churches preach? I suppose God needs to line his pockets just as much as the next guy.

It is NOT mandatory. That why its called a freewill offering. Go take your misconstrusion elsewhere. And if anything your example is corrupt anyways because the so called tithes are the only thing that support a church. The government here takes a third of your income and doesn't give you jack squat for it.
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Re: gov't to withdraw 10% from everyone's bank accounts

Postby Metsfanmax on Sat Mar 16, 2013 4:51 pm

rishaed wrote:
Metsfanmax wrote:
AAFitz wrote:
Night Strike wrote:Governments will always work to take money away from the people in order to line their own pockets.


Unlike Individuals, churches and corporations.


Indeed. Isn't taking 10% of your income a core tenet of the theology that the Christian churches preach? I suppose God needs to line his pockets just as much as the next guy.

It is NOT mandatory. That why its called a freewill offering. Go take your misconstrusion elsewhere.


Leviticus 27:30 wrote:Every tithe of the land, whether of the seed of the land or of the fruit of the trees, is the Lord’s; it is holy to the Lord.


Is this one of those parts of the Bible that we can safely ignore in modern times? Maybe God didn't get hit by the recession as badly as everyone else.

And if anything your example is corrupt anyways because the so called tithes are the only thing that support a church. The government here takes a third of your income and doesn't give you jack squat for it.


Incomplete list of things the government gives you for your tax contribution:

    Military protection
    Police department
    Fire department
    Court system
    Prisons
    Social security benefits
    Clean running water
    Waste disposal and recycling
    Public libraries and schools
    Snow removal and storm cleanup
    Maintenance of public roads
    Basic scientific research
    National and state parks
    Government inspection of food products
    Weather prediction
    Public transportation
    Copyright and patent protection
Last edited by Metsfanmax on Sat Mar 16, 2013 4:54 pm, edited 3 times in total.
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Re: gov't to withdraw 10% from everyone's bank accounts

Postby saxitoxin on Sat Mar 16, 2013 4:51 pm

Metsfanmax wrote:
AAFitz wrote:
Night Strike wrote:Governments will always work to take money away from the people in order to line their own pockets.


Unlike Individuals, churches and corporations.


Indeed. Isn't taking 10% of your income a core tenet of the theology that the Christian churches preach? I suppose God needs to line his pockets just as much as the next guy.


I think this is more the idea that this is not a tax but a levy. There has always been a perception banks are a safe place to store the fruits of your labor, ergo the home economics courses in government owned schools that tell you not to bury your money in the backyard but to store it in a bank. In this case, everyone woke up one morning to find their accounts withdrawn by 10% with no notice and no discussion, while people who kept their money under their mattresses did fine (until house to house searches begin anyway).

Regardless of the ethics of the situation, it's difficult to imagine how this will not lead to the immediate collapse of all the banks in Cyprus. Who would store their money in a bank when it could be withdrawn by a third party in any amount at any moment? With no banks there are no mortgages. With no mortgages there is no home ownership. Home ownership is one of the definitive elements that separates a developed country from a developing country. The standard of living in Cyprus is on the verge of a collapse. People who becam accustomed to living with the comforts of a first world society are about to find out what life in the third world is like. Though, as 2dimes noted, this was probably going to happen anyway.
Last edited by saxitoxin on Sat Mar 16, 2013 4:59 pm, edited 1 time in total.
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Postby 2dimes on Sat Mar 16, 2013 4:54 pm

The government here takes a third of your income and doesn't give you jack squat for it.


Wow that's harsh. You should totally move to a place with roads, schools and police. It's sure a lot better than where you are now!
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Re: gov't to withdraw 10% from everyone's bank accounts

Postby Metsfanmax on Sat Mar 16, 2013 4:57 pm

saxitoxin wrote:
Metsfanmax wrote:
AAFitz wrote:
Night Strike wrote:Governments will always work to take money away from the people in order to line their own pockets.


Unlike Individuals, churches and corporations.


Indeed. Isn't taking 10% of your income a core tenet of the theology that the Christian churches preach? I suppose God needs to line his pockets just as much as the next guy.


I think this is more the idea that this is not a tax but a levy. There has always been a perception banks are a safe place to store the fruits of your labor, ergo the home economics courses in government owned schools that tell you not to bury your money in the backyard but to store it in a bank. In this case, everyone woke up one morning to find their accounts withdrawn by 10% with no warning and no discussion, while people who kept their money under their mattresses did fine (until house to house searches begin anyway).


Well, assuming these people aren't just about to depart from their country en masse, I would assume it's better to be proactive and make a move now to take 10% out rather than let the economy fail and have the banks run out of money, leaving most people with a permanent 100% loss. But yes, it's totally absurd for a government to just go and do this without actually asking for permission.
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