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alstry (35.70)

You are BROKE when the government taxes you 100%

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August 26, 2009 – Comments (5)

The number of U.S. citizens in Britain fell 3.8 percent to 126,000 in the 12 months through September, according to the Office for National Statistics. The trend probably continued this year, with the Confederation of British Industry estimating the U.K. financial industry will lose about 45,000 jobs in the first nine months of 2009, or 4.3 percent of the total.

Americans are heading home as Britain plans a 50 percent tax rate for those who earn more than 150,000 pounds ($248,000) a year and employers cut benefits for workers living abroad, reducing the allure of London. That comes a year after the U.K. said foreigners who have lived in the country for more than seven years must pay 30,000 pounds annually or give up the special status that shields overseas income from British taxes.

50% and 30K Pounds( over $50K)......getting closer

Seriously.....which one do you think will get confiscated first.....bank accounts, IRAs, or 401Ks?

You can only goose profits by buying distressed debt and funding pensions with over valued stock while firing/wage slashing employees for so long.  Pretty soon, few are working and even fewer are customers....and that debt you purchased at a perceived discount....it's probably worthless after few are selling much of anything.

For a good example of what happens as revenues evaporate....take a look at commercial real estate.

Somebody has to pay taxes.....or else government must own everything.....who is going to maintain the soverign?  If they it can conscript your kids to phsyically protect the nation, it can convert your accounts/money to economically protect the nation.

You guys must think I am kidding don't you.....prepare....9.09 is soon here......I warned you we have to restructure.

5 Comments – Post Your Own

#1) On August 26, 2009 at 5:14 PM, alstry (35.70) wrote:

Sorry,

here is the link:

http://www.bloomberg.com/apps/news?pid=20601109&sid=alNiweY01.Mk

‘We Are Fed Up’

The worst recession since World War II has left U.K. residents facing tax increases and spending cuts after Britain’s monthly budget deficit ballooned to a record 8 billion pounds in July. In addition, some employers are reducing benefits such as tax equalization, school tuition for children and cost-of-living allowances that supplement expatriate salaries.

Schools catering to international students report a drop in enrollment for the first time in seven years, and relocation companies say they are moving fewer people to Britain.

Janet Sherbow lives in London’s Chelsea district with her husband, Nikos Mourkogiannis, the former chief executive officer at the European arm of Cambridge, Massachusetts-based management consulting firm Monitor Co. The family plans to move to Greece after their daughter finishes high school next year.

“We are fed up with all the stealth taxes, the non-doms levy, and now the 50 percent tax rate,” Sherbow said. “Six American families have moved from my street in the last six months.”

NO SHEET

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#2) On August 26, 2009 at 5:39 PM, AdirondackFund (< 20) wrote:

Greece is nice.  Much better weather than London usually gets.  Of course, after all of those taxes are levied, the 'Great Hollowing Out' will begin....and perhaps has already begun in Chelsea.

How anyone even thinks that any of these solutions are doable completely escapes me.  I have no idea what maddness (or chemicals) are consuming their brains.  With over 90% of the Nation's Currency tainted with Cocaine, I'll have to guess it is the cocaine that has gotten to them here, but who knows what is tainting the British Sterling.  

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#3) On August 26, 2009 at 6:53 PM, alstry (35.70) wrote:

JEFERSON COUNTY IMPLODING???

Jefferson County Commission President Bettye Fine Collins said this morning the county still is unsure of what steps it will take one day after the Alabama Supreme Court ruled that the county's occupational tax was repealed.

"We are waiting for our attorneys to advise us," Collins said.

The county has placed 1,000 workers on unpaid leave because of the loss of the occupational tax revenue and business license fee.

County officials have said the ruling means the cash-strapped county will not have access to $17.5 million collected in job tax revenue since May and likely would have to replace $22 million collected January through May and already spent.

Collins has said the county could owe another $15 million spent in December.


The county may have to refund all of that money to taxpayers, after attorneys fees have been paid.

http://blog.al.com/spotnews/2009/08/commission_president_says_jeff.html

SOON YOU TOO WILL UNDERSTAND...WHEN  YOUR GOVERNMENT IS BROKE...YOU ARE BROKE.

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#4) On August 26, 2009 at 10:51 PM, JerseyShoreGirl (< 20) wrote:

Bloomberg: Aug 26: Toyota Will Cut Domestic Production as Sales Plummet (Update4)

Aug. 26 (Bloomberg) -- Toyota Motor Corp., Japan’s biggest automaker, plans its first long-term closure of a domestic assembly line as car sales in the country fall to the lowest in more than 30 years.

Toyota, which cut domestic production 49 percent through June, will reduce output by about 220,000 vehicles by shutting down a line at its Takaoka plant from the fiscal first quarter of next year through the second half of calendar year 2011, spokeswoman Ririko Takeuchi said by phone today.

Car demand has plummeted due to the global recession, forcing General Motors Corp. and Chrysler LLC into bankruptcy. Toyota, the world’s largest carmaker, earlier this month forecast a net loss of 450 billion yen ($4.8 billion) for the year ending in March. Toyota President Akio Toyoda, who took the helm in June, is slashing costs as he tries to avoid a third consecutive year of losses.

“Toyota is desperate to cut costs,” said Yuuki Sakurai, chief executive officer of Fukoku Capital Management Inc. in Tokyo. “The company needs to stop building unpopular and unprofitable cars.”

Toyota will shift some vehicle production to affiliates during the closure, the company said. Vitz/Yaris compact cars will be made by Toyota Industries Corp.’s factory in Aichi prefecture, central Japan, while Ractis and ist compacts will be produced at Kanto Auto Works Ltd.’s plant in Iwate prefecture, northern Japan.

 Full story here ..

http://www.bloomberg.com/apps/news?pid=20601101&sid=avdxlCpHth4I

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#5) On August 26, 2009 at 11:01 PM, JerseyShoreGirl (< 20) wrote:

Here's a site/blog dedicated to tracking job cuts on a daily basis.

http://www.dailyjobcuts.com/

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