Following government raiding party initiatives on private pension plans in Poland, Hungary, France and Bulgaria, it appears now that Ireland is going to start subtracting from future pension earners now...
"The Irish government plans to institute a tax on private pensions to drive jobs growth, according to its jobs program strategy, delivered today.
Without the ability sell debt due to soaring interest rates, and with severe spending rules in place due to its EU-IMF bailout, Ireland has few ways of spending to stimulate the economy. Today's jobs program includes specific tax increases, including the tax on pensions, aimed at keeping government jobs spending from adding to the national debt."
Without the ability sell debt due to soaring interest rates, and with severe spending rules in place due to its EU-IMF bailout, Ireland has few ways of spending to stimulate the economy. Today's jobs program includes specific tax increases, including the tax on pensions, aimed at keeping government jobs spending from adding to the national debt."
Is anyone so naive as to think that it can't happen over here? While under GWB we saw $3.2 trillion added to the national debt, Obama has addded over $4.4 trillion over the course of only three years. Someone is going to have to pay the piper and unfortunately, it looks like it's going to have to be the average working person. This in spite of attempts to foment class envy to momentarily divert the attention of the American public whose average attention span is that of a week old puppy.
3 comments:
Psh. It will never happen here. The US Government can be trusted to never demonetize silver, confiscate gold, play Valentine's Day Massacre with Dairy Cows, engage in Bills of Attainder, disseminate graft to their Spouse's companies, nor play Robin Hood on the Taxpayer's Dime.
You're just a loony.
…or privatize Social Security.
And the American commercial, industrial and financial sectors, stalwart defenders of the working class, can be counted on to prioritize long-term domestic stability and wages over globalization and high-risk short-term profits.
I agree, it'll never happen here.
JD, some of this is unclear to me. Are these gov't-worker pensions, or private sector pensions, or both? And I couldn't make heads or tails of this sentence:
"The levy will not apply to pension funds established here and providing services and benefits solely to non-resident employers and members."
What's your understanding?
Post a Comment