Cyprus has agreed to a deal with European Union creditors that will impose a tax as high as 9.9 percent on bank deposits.

Fortunately, Cyprus is just a tiny country in the Mediterranean. Here in the United States, such a plan is unthinkable, right?

Or maybe not. In fact, some people think a wealth tax is exactly what our country needs:

How are world markets and international investors responding? Not so cheerily:

A friendly public service reminder:


The Cyprus parliament has reportedly canceled today’s vote on the bailout.


We changed the headline to make it clear that the liberals cited in this post were supporting a wealth tax similar to the one being considered in Cyprus. They were not speaking out specifically in favor of the Cyprus policy.

  • freeinaz

    Daily Kos: GOP cranks up class warfare again with tax-break plans. Time for a wealth tax.
    In the famous line of Nancy Pelosi, “Are you serious?. Are you serious?” These people have no shame, Obama is creating a divide within every sector of our people and then his buddies at the Daily Kos blame the GOP. Unbelievable.

    • Tabitha Bliss

      Amen! I was thinking the same thing! But if you ever read “Daily Kos The Week In Review”, then you know as well as I do that those people are certifiable…

      • Scott

        The problem is that certifiable people dont know they are certifiable so they just keep right on with their certified BS!

    • Vennoye

      How fast these cretins forget the 2% increase of 1-1-13. How fast they forget that they are considered the top when this administration gets tax increases. I can hardly wait to see what they say when a transaction tax of up to 9.9% is imposed upon their deposits!! It really is time for a divorce!

    • Jesse Perlstein-Mizrachi

      Actually the term from brainwashing camps is called “mystical manipulation”, the general idea is that the cult leader can cause increased belief by controlling their environment and the environment around their followers. The item manipulated has to be someone that those manipulated by it don’t understand how it works. Enter the tax code, no one understands it in its totality and changing it can affect the environment around the cult leader and followers. In the process you name the group for which you designate as the “out-group to be destroyed” as responsible for all negative effects. Due to the actual cult affliction rate that Obama is targeting that is somewhere around 12% of the population there is a chance for the techniques to backfire, which they tend to. At any rate excessive behavior causes de-socialization from the cult, to be totally honest blaming a target group routinely backfires (ie the MRM PUA cults which have recruitment issues due to their nature of direct conflict).

      Obama actually uses brainwashing techniques developed by the Chinese in the late 1920s. Better techniques have been developed since however, he would most likely get the blame for all the homicides and mass shootings that the newer thought reform techniques cause. (ie the gabby giffords shooting [alex jones cult], the James Homes Aurora theater massacre [the mra / pua cult] and columbine [industrial / neo-nazi cult]).

      TBH manipulation barely beats out honesty in the vote, humans could be evolving defenses especially since cult affliction causes early death.

  • beebop1952

    Tax the rich … feed the poor … till there ain’t no rich no more.

    • TocksNedlog

      Ya know, this line (oh, and R.I.P. Alvin Lee, who passed away 2 weeks ago) is emblematic of Socialist ‘thought’:
      They, in effect, want to force business owners to pay wages to non-employees. It’s like a pension-plan where attendance is optional. “Fairness” means everything, reality means nothing. Scary stuff.

      • beebop1952

        You’re too deep for me.
        My point is that progressives don’t follow this to its logicial conclusion …. like what happens when there is no one to pay the bills?

        • TocksNedlog

          No worries. I was just emphasizing how wealth confiscation for the sake of funding the nanny state is a plan that’s doomed to failure.
          It isn’t just “you didn’t build that!” It’s “you’re not allowed to build that!”

        • Miss Clairee

          Ppsssshhhhh! Liberals don’t need no stinkin’ logic. They’ve got rainbows, unicorns, and butterflies dontcha know? Oh, and Santa Claus!

  • Tantalus XVI

    They do realize its a flat tax on every bank account right? “The rich” got their money out weeks ago. California should definitely look into this because they CLEARLY need higher taxes. Maybe they Bill Maher will then “get it.”

    • Seriously?

      No, no they do not realize this. They even missed the part about England’s troops having money in there.

    • Vennoye

      Thought this last proposal is a transaction tax on deposits, not balances–the gift that keeps on giving on each deposit. Guess the original proposal tax on balances/savings from 6.75 up to 100,000 euros and 9.9 over would not allow them to keep on spending.

  • Knut Holt

    The govenrnments in most European countries are unable to pay back the dept in ordinary ways, and so also in USA. In “rich” countries like for example Norway, the government is on the creditor side, but will lose badly on the situation.

  • RevDrEBuzz

    Let’s start with all the wealthy Democrats in congress. There seem to be many more of them than Repubs.

    Let’s take ALL their money.

    But what the Liliputian Reich doesn’t get is that there is not enough of that vast pool of wealth to even matter we’re so boned.

    He is a dunce, a total dunce.

    • Brett McMicken

      let’s start wtih the chavez-lovers like sean penn and michael moore. let’s start with the salaries of commie college professors. take all their wealth and leave them .5% of their yearly income.

  • $23629333

    If the folks on Pennsylvania Avenue bring in a wealth tax, you know that it will administered to ensure that it does not touch those folks and their friends.

    Yes, Virginia, it’s long past time to storm the Bastille.

  • Patrick Dennehy

    Yes, that Robert Reich…enough said.

    How do these geniuses plan to calculate such a tax? Listening to the brilliant Prof. Lamont Hill talk about it, I am convinced it violates The Constitution; you know? that pesky outdated/archaic document Lib’s couldn’t be bothered with…

  • BeeKaaay

    After this, WHO in their right mind will keep ANY money in EU banks?

    This will cause a EU-wide run on all the banks, and totally crash the EU economy.

    Way to go leftwingwackos! You just collapsed your own socialist utopia!

    • Neil Leininger

      The crazy thing is that a lot of US companies are holding massive amounts of money in overseas accounts. Even getting taxed at 9.9%, it would still be cheaper than bringing the money back to the US where it would get taxed at 37%.

  • Michael Taylor

    Why let the fourth amendment get in the way of another “tax the rich” scheme?

  • tjp77

    Liberals aren’t going to be happy until literally everyone in the country is dependent on the government in one way or another.

  • Joseph A White

    Cue the mass run on the banks…..Y’all better just stock up on a new mattress and buy gold, silver & platinum. Or you’ll be fleeced like the Cypriots.

    • Native American Potato

      Just wanted to point out that you missed one precious metal on your list.. Lead.

      Of course in Cyprus the only people allowed to own firearms have to be given “special authorization” making it very easy for the government to take whatever it likes from the subjects.

    • R7 Rocket

      Convert some of your dollars into ammo.

  • Joe Squid

    Seizing the bank-held savings of law-abiding citizens who actually live within their means and actually save for a rainy day? Oh, by all means – let tax their asses off! Friggin’ unbelievable! :-(

  • TRyan

    Never before has our free market capitalist system been under such totalitarian attack!!!

  • operanerd1986

    In the future, my bank account will be gold bricks stashed under a mattress. They’ll be safer there than in any bank.

    • $29561723

      Progressives are reaching a point where they will call for violence against the wealthy and seizing of assets/property. Just like what happened to the Kulaks. They’re already trying to disarm us. That’s step 1.

      Can anyone here try to think ahead even 50 years and NOT see bloodshed? Progressivism’s goals at this point are completely transparent. Only by force will they get what they really want.

  • TocksNedlog

    Day after day the evidence mounts that Socialism is NOT an economically viable system, yet they “keep on keepin’ on” in the name of ‘fairness’ and ‘social justice’.

  • Gustavo

    Um Gottes willen. I realize that part of the big con is to keep you sheep stupid and disconnected from the reality based community–the better to fleece you my dears. But, what is happening in Cyprus has nothing to do with a wealth tax or would ever receive any support from any kind of liberal.

    Basically Cyprus is a No-Tell Hotel of Banking (like Cayman’s etc). It’s primary clientele are Russian mobsters laundering their cash. The banking system is teetering and German officials decided that everybody who had deposits in Cypriot banks had to take a haircut–7% for (Ma & Pa Cypriot) with accounts under 100K euros; and 10% for those with accounts over $100K (Russian Mobsters, Kock Bros., Mitt Romney-types). Deposits under $100k are insured, so that 7% haircut is quite the shocker, especially as it is being taken to prop up a bunch of thugs.

    Now let Michelle and her Grift Squad go back to what they do best: get you riled up at absolute nonsense and excited about tweets from K-list “celebrities”. Dean Cain! Jason Biggs! Jon Lovitz! Adam Baldwin!

    • Gustavo

      Take that back on Adam Baldwin. Have loved him in everything since My Bodyguard. 99.7% of America just thinks he is a Baldwin bro they can’t recognize, but whether it was dc cab, Jayne, Col. Casey or anything else, Baldwin delivers.

  • Kevin

    I just hope that when the time comes the proletariat is willing to concede their power.

  • sb36695

    Useful idiots,
    Be careful what you HOPE for.

  • Neil Leininger

    We should create a Democrat/Lib tax.


    Better plan :1) Defund all lefty causes(planned parenthood, green energy,etc.).

    2) Defund worthless college majors(gay studies, race studies, etc).

    3) Go to sales tax ONLY. This will remove power from Congress Critters.

    4) Cut off the OWS crowd from all state benefits until they work for at least 5 years.

    • TocksNedlog

      Replace the Income Tax with a National Sales Tax?
      The greedy piggies in Washington will never go for it.
      What about all of those thrifty types that save their money and don’t pay their fair share? When you tax income everyone gets hit regardless of how thrifty they are.

      • Guest

        Everyone consumes something and a consumption tax is far easier to manage without the bloated and far-reaching IRS. Staple foods, perscriptions, etc could be exempt from the sales tax.
        It’s a solid idea.

        • TocksNedlog

          I’m not personally opposed to the idea; just saying that the greedy pols in DC will not go for it.

  • Juliette Akinyi Ochieng

    Theft by another name.

  • Brett McMicken

    okay, libs! as long as you’re for it, i’m for it……starting with hollywood, san francisco, boston, the hamptons, martha’s vineyard, that whole bunch and places like them that are filled with obama-loving liberals. there’s just one catch: 99% of their wealth is confiscated.

  • el_polacko

    so now “the rich” includes anybody who has a bank account ?!?

  • arttie

    Old Ted Binion’s buried vault, in Pahrump, Nevada, full of silver maybe wasn’t so crazy after all other than the fact he got tied up with people who tried to collect it with a back-hoe.

  • arttie

    I come back to what life will be like when the stateists collect all tangible assets, it was depicted in post revolutionary Russia in the movie “Dr. Zhivago.”

  • R7 Rocket

    A tax against hard earned savings? Better to convert your dollars into 7.62 x 51mm NATO and 5.56 x 45mm NATO. Then generously give up you savings to the corrupt authorities… at 2600-3200 feet per second.