25% WTF | Bitcointalksearch.org

Littleshop

legendary

Activity: 1386

Merit: 1004

Quote from: myrkul on March 24, 2013, 06:07:24 PM

Quote from: Realpra on March 24, 2013, 03:55:42 PM

Can I just ask.. is this stealing?

I mean people there avoid taxes all the time, but still depend on their government in some ways. The stupidity of it aside isnt this just a tax, without anything morally wrong with it?

Flawed assumption: that a "tax" is not stealing because it's called a "tax."

While most of this is happening due to the indirect fault of governments, the direct cause is poor investments by private companies. This situation needed the standard bad bank US treatment by the FDIC but instead they way it was done has totally destabilized everything.

Severian

sr. member

Activity: 476

Merit: 250

Quote from: myrkul on March 24, 2013, 08:08:01 PM

Quote

3.
a. A payment in money or other valuables made by one ruler or nation to another in acknowledgment of submission or as the price of protection or security.

Yes sir. That's the one I was thinking of. Otherwise known as plunder averaging.

Jobe7

full member

Activity: 238

Merit: 100

Now they are thinking what to do with me

Quote from: Severian on March 24, 2013, 06:42:58 PM

Quote from: myrkul on March 24, 2013, 06:07:24 PM

Flawed assumption: that a "tax" is not stealing because it's called a "tax."

I prefer to call it tribute instead.

QFT

myrkul

hero member

Activity: 532

Merit: 500

FIAT LIBERTAS RVAT CAELVM

Quote from: Severian on March 24, 2013, 06:42:58 PM

Quote from: myrkul on March 24, 2013, 06:07:24 PM

Flawed assumption: that a "tax" is not stealing because it's called a "tax."

I prefer to call it tribute instead.

Depends on which definition you use.

Quote

3.
a. A payment in money or other valuables made by one ruler or nation to another in acknowledgment of submission or as the price of protection or security.

works, but

Quote

1. A gift, payment, declaration, or other acknowledgment of gratitude, respect, or admiration

it definitely is not.

Severian

sr. member

Activity: 476

Merit: 250

Quote from: myrkul on March 24, 2013, 06:07:24 PM

Flawed assumption: that a "tax" is not stealing because it's called a "tax."

I prefer to call it tribute instead.

myrkul

hero member

Activity: 532

Merit: 500

FIAT LIBERTAS RVAT CAELVM

Quote from: Realpra on March 24, 2013, 03:55:42 PM

Can I just ask.. is this stealing?

I mean people there avoid taxes all the time, but still depend on their government in some ways. The stupidity of it aside isnt this just a tax, without anything morally wrong with it?

Flawed assumption: that a "tax" is not stealing because it's called a "tax."

CurbsideProphet

hero member

Activity: 672

Merit: 500

Quote from: the founder on March 24, 2013, 04:09:29 PM

Quote from: CurbsideProphet on March 24, 2013, 03:27:03 PM

Sadly many of the Russian oligarchs and others this "tax" was intended to hit were tipped off and moved funds before the whole fiasco started.

you expected anything else?

Nope, par for the course. Still sad for the average Cypriot.

the founder

sr. member

Activity: 448

Merit: 251

Bitcoin

Quote from: Carlton Banks on March 24, 2013, 04:22:03 PM

Quote from: Realpra on March 24, 2013, 03:55:42 PM

Can I just ask.. is this stealing?

I mean people there avoid taxes all the time, but still depend on their government in some ways. The stupidity of it aside isnt this just a tax, without anything morally wrong with it?

What if they do a 25% tax once every year? Still a tax? Or stealing? Does it become stealing at 25% once a month, or perhaps once every 6 months?

When it comes down to it, these banks are using depositer money to pay their creditors, and however you define a tax, 25% deposit taxes is not how I would define a bank.

A tax is when it's prearranged. Though it's fair to say it's stealing as well, it's not exactly the same thing.

"You will be taxed 6% each time you buy anything in a department store" - fine, I understand $1 dollar is actually $1.06

stealing is when they shut down your bank account, yank 25% out of it. zero notice, zero time to hedge against it.

What happened was stealing.

"I have payroll this week for my employees and I have $200,000 in the bank account for them when payroll is paid out to everyone i'll have zero.

Now the government steals 25% without notice, 25% of his employees are not getting paid.

Carlton Banks

legendary

Activity: 3430

Merit: 3079

Quote from: Realpra on March 24, 2013, 03:55:42 PM

Can I just ask.. is this stealing?

I mean people there avoid taxes all the time, but still depend on their government in some ways. The stupidity of it aside isnt this just a tax, without anything morally wrong with it?

What if they do a 25% tax once every year? Still a tax? Or stealing? Does it become stealing at 25% once a month, or perhaps once every 6 months?

When it comes down to it, these banks are using depositer money to pay their creditors, and however you define a tax, 25% deposit taxes is not how I would define a bank.

whitenight639

full member

Activity: 154

Merit: 100

Quote from: Realpra on March 24, 2013, 03:55:42 PM

Can I just ask.. is this stealing?

I mean people there avoid taxes all the time, but still depend on their government in some ways. The stupidity of it aside isnt this just a tax, without anything morally wrong with it?

How do you work that one out? sombody born in the UK may have to pay tax here even if they live in russia and have deposits in Cyprus, I highly doubt any of the high net worth individuals use government funded schools, hospitals or anything else. They will still pay purchase taxes like VAT and local taxes.

I don't think anybody should pay taxes on there labour, on there purchases maybe but taxation is theft because it is not volountary and collected at the threat (or use of) force. It's no different to a Mafia demanding protection money, and too be honest I'd rather pay the mafia.

the founder

sr. member

Activity: 448

Merit: 251

Bitcoin

Quote from: CurbsideProphet on March 24, 2013, 03:27:03 PM

Sadly many of the Russian oligarchs and others this "tax" was intended to hit were tipped off and moved funds before the whole fiasco started.

you expected anything else?

melvster

sr. member

Activity: 350

Merit: 250

Quote from: Realpra on March 24, 2013, 03:55:42 PM

Can I just ask.. is this stealing?

I mean people there avoid taxes all the time, but still depend on their government in some ways. The stupidity of it aside isnt this just a tax, without anything morally wrong with it?

Correct me if I'm wrong, but aren't euros the property of the ECB or some such?

How can you 'steal' what's already yours?

Realpra

hero member

Activity: 815

Merit: 1000

Can I just ask.. is this stealing?

I mean people there avoid taxes all the time, but still depend on their government in some ways. The stupidity of it aside isnt this just a tax, without anything morally wrong with it?

CurbsideProphet

hero member

Activity: 672

Merit: 500

Sadly many of the Russian oligarchs and others this "tax" was intended to hit were tipped off and moved funds before the whole fiasco started.

Ogig

member

Activity: 70

Merit: 10

Quote from: Buffer Overflow on March 24, 2013, 12:59:48 PM

Don't get me wrong, €100,000 is a lot of money. But I wouldn't really class that as wealthy.

Minimal wages at Cyprus are around 750€ month. Just a guess but i'm gonna say that you'd be considered quite wealthy with 100.000€ sitting in your bank.

casascius

vip

Activity: 1386

Merit: 1140

The Casascius 1oz 10BTC Silver Round (w/ Gold B)

Quote from: Buffer Overflow on March 24, 2013, 01:20:04 PM

So if some poor sod has €100,001 in bank, does 25% of the €1 get stolen, or 25% of the €100,001?

25% of €1

Basically, the stealing has already happened the moment the money was deposited in the bank. This is just reconciliation. Just like Madoff was stealing from his clients the whole time, not just the week it was all discovered.

Buffer Overflow

legendary

Activity: 1652

Merit: 1016

The whole thing is just blantant stealing.
Nothing more. Nothing less.

So if some poor sod has €100,001 in bank, does 25% of the €1 get stolen, or 25% of the €100,001?

flix

legendary

Activity: 1227

Merit: 1000

If you are retired and € 100.000 is all your life's savings... How many years will you be able to live on that?

Equilux

sr. member

Activity: 353

Merit: 251

Quote from: Buffer Overflow on March 24, 2013, 12:59:48 PM

Don't get me wrong, €100,000 is a lot of money. But I wouldn't really class that as wealthy.

Especially if you consider that a small or medium business will easily have a 100,000 in the bank for wages and other expenditures ...

Buffer Overflow

legendary

Activity: 1652

Merit: 1016

Don't get me wrong, €100,000 is a lot of money. But I wouldn't really class that as wealthy.

Spaceman_Spiff

legendary

Activity: 1638

Merit: 1001

₪``Campaign Manager´´₪

Quote from: the founder on March 24, 2013, 12:31:02 PM

By the time they're done they won't have any money to invest in bitcoins in the first place

http://worldnews.nbcnews.com/_news/2013/03/23/17428178-cyprus-now-looks-to-take-25-percent-from-bank-accounts-of-wealthy

The big money won't come from the cypriots. The big money will come from the people that don't want to end up like the cypriots.

the founder

sr. member

Activity: 448

Merit: 251

Bitcoin

By the time they're done they won't have any money to invest in bitcoins in the first place

http://worldnews.nbcnews.com/_news/2013/03/23/17428178-cyprus-now-looks-to-take-25-percent-from-bank-accounts-of-wealthy

Topic: 25% WTF (Read 2309 times)