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View Diary: BREAKING NEWS: Parliament of Cyprus Rejects "Bailout," Bank "Haircut" (143 comments)

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  •  Progressive taxation. (5+ / 0-)

    One point I haven't seen is this: the poorest have no bank deposits.  The middle class, these days, has only a little.  The only ones with big deposits are the very rich.

    In this country, seniors often do too; but retirement accounts are protected from seizure in most cases.  Not sure about Cyprus law, of course.

    But if my guess is right, this bailout is sitting squarely on the shoulders of the Cypriot 1%.  But as usual, they have the poor marching in the streets on their behalf.  Am I wrong?

    Early to rise and early to bed Makes a man healthy, wealthy, and dead. --Not Benjamin Franklin

    by Boundegar on Tue Mar 19, 2013 at 02:18:56 PM PDT

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