About Eeyore

Canadian artist and counter-jihad and freedom of speech activist as well as devout Schrödinger's catholic

2 Replies to “Rep. Allen West explains the Cyprus financial melt down. An indicator of what is to come?”

  1. The banking crisis is coming to the entire world, the attempt to steal money from the bank depositors to try and prevent the collapse is probably going to be talked about if not done in most nations. Unfortunately the entire world is so deeply in debt we can’t stop the collapse.

  2. The real problem is that politicians in the USA or the EU, have huge amounts of money at their disposal, with no check on their powers to spend or throw around the world.

    Switzerland OTH sidesteps the first issue by making the cantons the sole authority for levying taxes. As cantons are small, they do not have absurdly huge amounts of money at their disposal. In addition, there is a legal maximum on the rate of taxation. This further reduces the amount of disposable money available.

    Furthermore, all budget proposals for the year by the canton or the federal government, are subject to a referendum, by law. The referendum is obligatory. On some relatively modest budget change, the Swiss can still force a referendum by collecting sufficient number of signatures.

    There is no inheritance or death duty tax. Capital gains on private property (such as profits from the sale of shares) are tax-free..

    All money levied from taxes is is earmarked. That is it has to be spent on the item under it which it was collected. Thus road taxes have to be spent on transport infrastructure.

    All this reduces the ability of politicians to play fast and loose with taxpayers money.All power rests with the people at the lowest level of taxation ie the cantonal or even the parish level.

    In my opinion, Switzerland is the only real democracy in the world.

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