Skip to comments.Romain Hatchuel: The Coming Global Wealth Tax
Posted on 12/04/2013 5:15:55 PM PST by Texas Fossil
Between ObamaCare, Iran and last quarter's uptick in U.S. economic growth, taxpayers these days may be distracted from several dangers to come. But households from the United States to Europe and Japan may soon face fiscal shocks worse than any market crash. The White House and New York Mayor-elect Bill de Blasio aren't the only ones calling for higher taxes (especially on the wealthy), as voices from the International Monetary Fund to billionaire investor Bill Gross increasingly make the case too.
In his November investment commentary for bond giant Pimco, Mr. Gross asks the "Scrooge McDucks of the world" to accept higher personal income taxes and to stop expecting capital to be taxed at lower rates than labor. As for the IMF, its latest Fiscal Monitor report argues that taxing the wealthy offers "significant revenue potential at relatively low efficiency costs."
(Excerpt) Read more at online.wsj.com ...
Theft by International Law, that does not really exist.
Just the Insanity that Obozo subscribes to.
Everybody with positive assets takes a haircut to prop up the Socialists Bankers.
It will not apply to Soros and Buffett and Carlos Slim.
Ready, aim, ......
They are coming for your ammo first.....then your guns...then you.
A word to the wise....
Just: Eff you.
That's all I have to say to them. I will not comply, and by the way, eff you.
And people still laugh at other people who claim there is a plan for a “One World Government”......
I am not laughing anymore, I stopped laughing about 6 years ago...
Raising tax raes, as always, will decrease revenues. The theory is based on what people “should” do, not on what people do. People “should” be good caring citizens who care about the welfare of their bureaucrats and work even harder when rates go up to replace the greater amount taken by the government. Won’t happen. Hasn’t happened in the past. So government will have to punish those people who quit making money for the government by raising their rates even more and closing off even more revenue as people stop working so much.
How will you “not comply?” The government has unlimited access to your bank account, made explicit if you file your taxes electronically.
The efficiency costs include people hiding their wealth rather than investing it in potentially productive locations that make it easier to confiscate. I think these thieves underestimate the measures that people would take to avoid having their personal property stolen by socialists claiming a right to redistribute other people's money.
How do they implement a wealth tax on people who already own their homes and for whom that is the bulk of their net worth, though property taxes in states like Texas are already 2-4% of its value?
The truth is, the bailouts were to pacify foreign banks & Multi-National banks due to our currency manipulation.
It was a transfer of capital to foreign banks, not a bailout of US creditors.
Why do you think they are trying so hard to disarm us?
They know that when their plans are revealed we will tell them where to go. Armed citizens? That is a problem for them.
Anger is the reaction.
But comparable property values are relatively low. And there is no state income tax.
Not that bad overall. And the personal freedom level is pretty high. At least it is away from the cities.
They just take it straight out of your bank or brokerage account.
Just try to tax the heavy metals they don’t know I have. Try really hard and meet the heavy metal I have mounted in brass.
Yes, I have my own little foundry and stash of metal.
Bought a new press and some more dies in January.
Am still collecting a few thing as I go along. Was even able to find some new brass for my old model 71 .348 Winchester. For big game. Bought some Hornady FTX 200gr Leverevolution bullets for it. Have not shot them yet, but they are said to improve the ballistics a lot.
Am not paranoid, but am not that trusting of these cretin.
I expect to be able to hunt for quite a while.
Which is why they are so eager to make all transactions involving currency electronic. To keep the economy from going underground as it has in Greece and Italy.
At least 20 years ago, or more, I read a piece that estimated over 30% of the Italian economy was underground because of the onerous taxes and regulations. No telling now, certainly it’s become greater.
I have recommended to my various [thinking] family members and a few thinking friends that they keep a *minimum* of 2 weeks living expenses in cash in a safe place. 4 weeks is better. This is wise not just in the context of this thread, but in the event of other disruptions, natural and man made.
And people will just deal in junk silver or other tradeables if the green folding stuff goes the way of the dodo.