Cyprus in last-ditch bid to agree bailout (40% haircut)

[OrwellwasRight]

68. No, I am saying tax dodgers are tax dodgers.

Foreigners who park their money in Cyprus in order to avoid paying taxes in their home countries are tax dodgers. It is not a difficult concept.

From post #20, in which I respectfully disagreed with you, a favor you cannot apparently return:

You know, the wealthy always deny that they are so. Nevertheless, I largely agree that stock and bondholders should lose all before any depositors lose anything.

On the other hand, Cypriot banks have so many accounts with more than 100K in Euros for a simple reason: they are a tax haven. Russian mobsters park money there to avoid paying taxes to their own government. I am frankly not opposed to taxing tax dodgers. I think there is no principled stnad in defending tax dodgers.

So, maybe the answer is to let the stock and bondholders lose (yeah, as if the powers that be would let that happen) and then tax the deposits made by non-Cypriots in accounts over 100K Euros.

(emphasis added, original spelling not corrected)

Do not put words in my mouth. Read my posts instead. I proposed taxing large deposits by non-Cypriots, i.e., money launderers. Which is not "stealing money from people under the guise the "well some of the people were abusing the system"." If you think that taxing = stealing, you are perhaps in the wrong party. Most Democrats accept the fact that taxes are the price we pay to live in a civilized society (with a nod to Justice Oliver Wendell Holmes).

And to your point, this money has not been moved. There is plenty of tax-dodger money in Cyprus. Cyprus has enforced bank holidays since the crisis started (except for ATMs, which allow people who need their money to live to access it) to prevent the money moving offshore. And the U.S. is not a tax haven, we share information on deposits and depositors with the country of citizneship of depositors so that any taxes owed can be sought by those countries.