"There is danger from all men. The only maxim of a free government ought to be to trust no man living with
power to endanger the public liberty." - - - - John Adams

Saturday, September 17, 2011

Spanish Socialists to confiscate wealth

Spanish Communists and Leftists cannot wait to get their hands into other people's wealth
in order to create a "fair" Worker's Paradise where flowers always bloom and birds always sing.

Socialists to Confiscate of the wealth of Spaniards to pay for a Worker's Paradise . . . . . it is only "fair".
  • SOCIALISM FAILS:  21% unemployment in Socialist Spain.
  • 40% unemployment for those under 30 years old.
  • Socialists to "tax" what you OWN, not the income you make.
  • The Center-Right Popular Party opposes the insanity.

Spain’s debt-laden Socialist government voted to reintroduce a wealth tax it had suspended just three years ago, arguing now that it is only fair for richer people to chip in more in times of crisis. The Cabinet approved the new tax in a decree and it will go to Parliament next week.

The legislature dissolves later this month ahead of Nov. 20 general elections that will be dominated by an economy saddled with a 21 percent jobless rate, anemic growth after nearly two years of recession and debt woes which periodically prompt worries Spain might be the next euro zone country to need a bailout, reports France 24 wire services.

The new wealth tax is a levy on a person’s net worth that only the wealthiest Spaniards will pay.  A tax not on any income EARNED but a tax based on what you own.

Spanish Socialist Prime Minister Zapatero
and his long lost twin brother.

The new wealth tax will be in effect just for 2011 and 2012, and will only tax people’s net worth above €700,000 ($963,000). That’s about seven times the earlier threshold. The government says only about 160,000 people will be affected.

Opposition parties have criticized the idea of reinstating the tax, arguing among other things it is a desperate bid by the government to appease leftist voters angry over austerity measures such as cuts in civil servant salaries, an extension of the retirement age and business-friendly labor market reforms.

Soraya Saenz de Santamaria, spokeswoman for the opposition center-right Popular Party, which is heavily favored to win the election, said Prime Minister Jose Luis Rodriguez Zapatero and his party are engaging in “political improvisation to keep their people happy.”

Zapatero suspended the wealth tax in 2008 on grounds it hurt the middle-class disproportionately and in effect penalized people who saved their money.

Spanish Leftists protest against austerity measures and labor reforms
 For more on this story

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