In a last minute deal Cyprus managed to secure the €10 bn bailout it requires to avoid bankruptcy. The Cypriot parliament agreed on a deal which will see bank deposits over €100,000 taxed. The troubled Laiki Bank will also be wound up, and split into two parts a “good” bank and a “bad” bank. The largest Cypriot bank, the Bank of Cyprus, will undergo major restructuring. Deposits in the Bank of Cyprus over €100,000 have now been frozen.
It is believed the levy on bank deposits will be around 30%. The Cypriot finance minister said they were keen to protect individuals and small depositors. The majority of account holders with over €100,000 are wealthy Russians. The deal has angered Moscow, who have accused the eurozone of using the crisis to go after Russian money.
Laiki and Bank of Cyprus remain closed with ATM withdrawals limited to €100 a time.
One of the most popular french actors has taken Russian citizenship, to avoid the new tax rate for millionaires in France. French President Francois Hollande is introducing a tax rate of 75% on earnings above €1 million.
The actor Gerard Depardieu became one of many wealthy Frenchmen to quit the country.
The actor, who grew up in a working class family before becoming a successful actor, has said that he has paid millions in taxes over the years and that the new high tax rate is an attack on success.
Depardieu has now taken up Russian citizenship. He flew into Russia today, where he was greeted by the Russian President, Vladimir Putin. Russia has a flat income tax rate of 13%.
Depardieu has worked in Russia in the past, and has previously spoken of possibly taking up Russian citizenship.
Depardieu’s friend Arnaud Frilley told France’s RTL radio: “The President [Francois Hollande] called Gerard to ask if he was really serious about leaving France for good.
Gerard told him it wasn’t the taxes themselves that sickened him, but he was sickened by the way France spits on success. At one point he got very annoyed.
He also said he felt the way the media had treated him was terrible and that he needed to take a step back.
But he did say that he would remain French in his heart and that he felt he was a kind of spokesman for all other successful people like him who had not spoken out.”
The disgraced former Italian Prime Minister was yesterday convicted of tax fraud and sentenced to 4 years in prison, later reduced to 1 year.
Media reports say Mr Berlusconi will appeal the sentence, saying he is a victim of “intolerable judicial harassment”, from the left leaning judges in Milan.
Berlusconi left office last year admit the growing sexual scandal around his infamous bunga bunga parties, where it is alleged he had sex with an underage prostitute. The trial in this case continues.
The 76 year old media model, received a suspended sentence in 1996 over false book-keeping, that conviction was later reversed on appeal.
Some had tipped Berlusconi to return to political office.
The United Nations (UN) attempt to grab money and further power is not new. “Innovative methods of financing” is the latest term they are using to describe their actions.
Examples: A 1% worldwide billionaires tax, a currency trading tax, a tax on all financial dealings (stock, bond and derivative trading), a carbon emissions tax or an airline ticket tax.
These ideas are supported at UN meetings. The idea is that the UN would be in charge of these funds and “redistribute” the funds to poorer countries.
Also supporting these measures is Jeffrey Sachs.
Sachs is a vocal Occupy Wall Street supporter and “climate change” fighter.
Sachs also happens to be the leader of the Earth Institute, from Columbia University and a UN Assistant Secretary General. Part of his (UN) duties are to work with UN agencies and “multilateral financing institutions and other international organizations” to (in large part) fight climate change. To do so he was appointed head of a new lobbying group named the Sustainable Development Solutions Network.
This week Sachs was noted to have been promoting a U.S. carbon tax to fight “climate change” by calling on President Obama. He has also been quoted “I’m happy to have the future pay for a lot of this. It doesn’t have to be current financed.” by Bloomberg News.
Things are not so bright in India right now.
Initially we saw corruption of a magnitude not seen in the developed world. Then we saw a tax on the job creators. The economy therefore predictably slowed and the rupee devalued.
Now India’s infrastructure is showing its frailties and is demonstrating how it can’t keep the darkness at bay.
This has affected over 600 million people, maybe more.
Governor Jerry Brown’s (Democrat) Proposition 30 is a multibillion dollar tax hike aimed at increasing sales taxes on all (Californians) and taxing the high income earners a lot more.
Those who stand to benefit are donating large, namely the Democratic lawmakers themselves along with the unions in the name of “protecting schools and local public safety”.
Some large donors include:
- the California Teachers Association $1.5 million
- American Federation of Teachers $1.2 million
- Service Employees International Union Local 1000 $1 million
- California State Council of Service Employees $1 million
- United Domestic Workers of America $800,000
- California Federation of Teachers $800,000
- John A. Perez D- Los Angeles, $100,000
- Alex Padilla, Kevin de Leon, Ellen Corbett, Tom Ammiano (see source article for full list)
The San Francisco Public Library, located beside the San Francisco City Hall, is now including privacy screens on its computers for your internet pornography watching enjoyment.
The United States Supreme Court however, has a current ruling from 2000 and that was ratified in 2003 that requires public libraries to have filters that block adult content, otherwise they are not eligible for federal funding for online education or even internet access funding.
This ruling is called CIPA, or the Children’s Internet Protection Act. To receive discounts on internet access and online educational offerings libraries must install protections for children. These protections, or filters can be turned off on a request made by an adult patron as filters can block other sites inadvertently as well.
A San Francisco transportation agency is pushing for a tax on driving.
The Metropolitan Transportation Commission (MTC) of San Francisco is the agency of
sad said source. They indicate that a GPS (Global Positioning System) would be installed in each vehicle to track them. Taxes therefore would be on your movements.
Since the Socialist Hollande has come to power in France and is now proposing high tax rates on the wealthy, neighboring countries are starting to see the wealthy families from France enter or enquire into moving and paying taxes instead to a new jurisdiction.
The French tax rate proposed is 75% for the rich! The previous highest rate was 41%!
“Now a large number of wealthy French families are leaving the country as a direct result of the proposals of the new government.”
Inquiries into luxury homes in London rose 30% in this years first 3 months. It may have something to do with Prime Minister David Cameron’s position. He stated that he would “roll out the red carpet” for those affected by the 75% French tax rate.
For more information on government, tax, unions and union mentality see prophet.tv.
See source article for more: France’s proposed tax hikes spark ‘exodus’ of wealthy – Telegraph. Picture Source.
Penalty, tax, penalty.
The Supreme Court Justices argued the fine/penalty is legal under Congress’ authority to tax and that the ‘obamacare’ bill is therefore legal as a tax.
Jay Carney, the White House Press Secretary reiterated on Friday that the fine is still a “penalty”.
The tax label was fought vigorously by Obama in 2009 when promoting the ‘ObamaCare’ bill.