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Poor Italy...Gov't Looking to Tax contents of SDB's
ShadyDave
Posts: 2,188 ✭✭✭✭✭
Italian Deputy Prime Minister Salvini talk about proposing to tax cash and other valuables kept in Safety deposit boxes. Guess its time for Italians to get a home safe or dig a hole in your backyard!
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To tax the SDB the taxing authority would need to know whats in the box. So, I’m assuming that the box holders have to provide an itemized list to someone.
Well don’t report what’s in the box.
The article states, “Those who voluntarily declared their deposit-box holdings would be taxed at a low rate of about 15 percent, he added.”
The article is lacking. Leaves more questions and doesn’t even answer one.
Fake news
Knowledge is the enemy of fear
fake post
Give Me Liberty or Give Me Debt
LOL ......... Although humorous, YOU ARE SO RIGHT !!!!! Italy and .it's currency will come under pressure from announcements like this. I was thinking about selling puts on the Italian currency when I heard this but I want to see what they do with long term interest rates before I take a position. Stay tuned .......
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Why? Its something propsed that would never pass . Fear mongering and speculation presented as fact. I know you eat that stuff for breakfast though.
Knowledge is the enemy of fear
Fake news, toxic masculinity, transparency, BYYYYYEEE Are currently the most overused and annoyingly abused terms today.
So we should only report news on proposed changes to law if those changes are sure to occur? Otherwise it's fake news? LOL.
I believe "fake news" is limited to lies, not to news we don't like or agree with. Makes you sound like one of those snowflakes.
Give Me Liberty or Give Me Debt
Also "its not a good look", LGBTQ..., POC, white privilage, ect...
☝️This guy is just not very nice - Edited by Heather
If such a law were ever passed. there would be a lot of empty safe deposit boxes in Italian banks. In every country, dumb unworkable laws such as this one are proposed but very few ever get passed or are taken seriously. Those few that are passed are widely ignored because they make no sense and are usually unenforceable.
Worry is the interest you pay on a debt you may not owe.
If you actually saw all the "proposed" ideas bantied about in legislative halls and campaign trails you would really crawl deeper into your cave. Fake news plays into the snowflakes emotions with causes them to be controllable and manipulated. It is not "limited to lies", but rather based on a truth that is twisted to elicit a variety of emotions, which are then used to control and manipulate us. Yes, the exact behavior you exhibit.
Why would you be so fearful of a tax on your SDB....are you hiding something?
Knowledge is the enemy of fear
Exactly!!!
Knowledge is the enemy of fear
Do you always trade against your beliefs? Selling puts is a bullish position, yet you seem to indicate you believe the Italian "currency" (you know thats the Euro, right?) would drop. So you were going to sell puts on the Euro because of some cockamamie idea to tax the contents of a safe deposit box?
Knowledge is the enemy of fear
As a real accountant who understands hedging no matter how your doing it or against whatever, it’s obviously some here are just about out of boot depth but do continue it’s revealing. Can you give us some pointers on Soybean, Fats, and beef while your on a roll. Also what reports your reading?
Best place to buy !
Bronze Associate member
What's the likelihood that the contents of a SDB have already been taxed or purchased with funds that have been taxed?
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Just another tax on one's property that was bought with after tax money. Look for new creative ways to keep funding run away spending at all levels of government. It will get much worse and will continue until there is another Boston tea party revolt. Very few remember WHY American demanded it's freedom. It was taxes.
Give Me Liberty or Give Me Debt
The idea is that they will tax the proceeds of tax avoiding cash transactions
As if anyone will admit what's in their boxes or won't remove it.
How is what I posted fake news, this was straight from the deputy Prime Ministers mouth. You don't think a government would want to get new revenue from taxing "hundreds of billions of euros" worth of property? Many times throughout history, governments have unjustly taxed, confiscated or stolen personal property and European countries seem to enjoy doing that these days. Italy must be struggling to pay for all of those African doctors, lawyers and engineers that have been invading their country over the last 3+ years.
^^^ This is also a really dumb statement and I don't think I have to explain why.
Another social media tempest in a teapot.... Move along, nothing of constructive value here....Cheers, RickO
Why would you sell a put? Don't you mean buy a put? I am assuming you believe the price of the currency will go down and in that case you would buy the put.