Following Cyprus Lead, Senator Proposes Tax on “Everyone Else”

April 1, 2013

Cyprus’s outrage about a proposed tax on all bank accounts helped turn the proposal into a tax primarily on foreign deposit holders’ accounts—a lesson not lost on U.S. policymakers.

“This would be a win-win for America,” said U.S. Senator Peter Papershill. “Tax bank accounts held by foreigners and use the revenue to reduce Americans’ taxes.”

A recent poll asked Americans who should bear the burden of taxes. 11 percent replied “you,” 4 percent replied “me,” and 85 percent replied “neither you nor me but that guy behind the tree.”

Click here to see other posts like this one.

Was this page helpful to you?

No

Thank You!

The Tax Foundation works hard to provide insightful tax policy analysis. Our work depends on support from members of the public like you. Would you consider contributing to our work?

Contribute to the Tax Foundation

Topics


Tags


Related Articles