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Politics : Formerly About Advanced Micro Devices
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To: bentway who wrote (747335)10/17/2013 12:00:44 PM
From: RetiredNow2 Recommendations

Recommended By
Jorj X Mckie
TideGlider

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Well, if you are one of the 99% who has only $50K saved for retirement and are 65, then the IMF/US IRS comes at taxes you with a 1 time 10% tax, I can imagine you'd be ready to re-enact the Declaration of Independence from your own government.

You may think a 10% tax would mostly impact the wealthy, but you'd be dead wrong. Let me tell you about the wealthy. You can take 10% of my money tomorrow and I'd have that money back within 6 months because of my investments and the shear quantity of money I save month to month. It wouldn't touch my day to day life. I wouldn't feel it.

But you take 10% of my mother's retirement funds and it would be terrible for her. She couldn't replace it and the other 99% have to scrimp and save for years to get any positive networth. You take money from them and you are taking blood, sweat, and tears they don't have to give.

You guys have this all wrong. You want to lower the debt, then don't rollover the bad debt and don't support zombie banks, but if they are insolvent, then have a sovereign takeover and a structured, controlled bankruptcy that wipes out the stockholders and converts the bondholder's assets to equity. Also, prosecute the banksters, so they can't continue their mafia ways. Then you are punishing the people who created the mess.
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