Subject: :
IMF AND WORLD TAX---BARRY IS THE GREATEST CON ARTIST
Date:
10/21/13 04:37:49 PM
All of us on the inside of
this GCR know it is happening and will work itself down to the US and us exchanging one
currency paper for another. If you have CASH hopefully in
any currency but old US dollars keep it in YOUR Oak Tree Bank. If you have enough after
paying off creditors with cashiers checks, then find a good financial / Estate planner to TRY to protect
your assets from IMF, GOV, States, IRS and other CROOKS and thieves.
From first hand talks with
people who were in DC from the world GOVs and Banks, they are all sacred to death of the future. USA has YET to be Bassel 3
compliant and has nothing to back the old or new treasury dollars unless they do what the Chinese Elders
are demanding. They want the USA to tell the truth about how they have LIED to
the world and to the people of the USA.
This includes the past presidents and the biggest CONMAN ever
OBAMA and the political CROOKS in the US GOV. IF the US does not announce this on TV, radio and mass
media then the movies that have already been filmed will be released world wide. Much worse
than Halloween movies. The sheep's in the us will be ashamed to show their face's in
public.
Then mass arrest will follow all over the world and we will be able to elect (only paper ballots) real
servants of the PEOPLE!
Note: I have been in security market from 1980 to now and have
worked with law enforcements and INTERPOL to arrest CON MEN and women. Mark my words - when you
hear the long list of criminal financial counts and crimes against humanity in the Hague international
Court are brought against Obama and his numerous other names.
The International Monetary Fund Lays The Groundwork For Global
Wealth Confiscation
Forbes “Taxing Times” 10/15/2013
In this handout provided by the International Monetary Fund (IMF),
International Monetary Fund Deputy Director Michael Keen presents the Fiscal
Monitor Press Conference October 9, 2013 at the IMF Headquarters in Washington,
DC. The report said that emerging-market governments were at economic risk. The
International Monetary Fund (IMF) quietly dropped a bomb in its October Fiscal Monitor Report. Titled “Taxing Times,”
the report paints a dire picture for advanced economies with high debts that
fail to aggressively “mobilize domestic revenue.” It goes on to build a case
for drastic measures and recommends a series of escalating income and
consumption tax increases culminating in the direct confiscation of assets.
Yes, you read that right. But don’t take it from me. The report
itself says:
“The sharp deterioration of the public finances in many countries
has revived interest in a “capital levy”— a one-off tax on private wealth—as an
exceptional measure to restore debt sustainability. The appeal is that such a
tax, if it is implemented before avoidance is possible and there is a belief
that it will never be repeated, does not distort behavior (and may be seen by
some as fair). … The conditions for success are strong, but also need to be
weighed against the risks of the alternatives, which include repudiating public
debt or inflating it away. … The tax rates needed to bring down public debt to
precrisis levels, moreover, are sizable: reducing debt ratios to end-2007
levels would require (for a sample of 15 euro area countries) a tax rate of
about 10 percent on households with positive net wealth. (page 49)”
Note three takeaways. First, IMF economists know there are not
enough rich people to fund today’s governments even if 100 percent of the
assets of the 1 percent were expropriated. That means that all households with
positive net wealth—everyone with retirement savings or home equity—would have
their assets plundered under the IMF’s formulation.
Second, such a repudiation of private property will not pay off
Western governments’ debts or fund budgets going forward. It will merely
“restore debt sustainability,” allowing free-spending sovereigns to keep
tapping the bond markets until the next crisis comes along—for which stronger
measures will be required, of course.
Third, should politicians fail to muster the courage to engage in
this kind of wholesale robbery, the only alternative scenario the IMF posits is
public debt repudiation and hyperinflation. Structural reform proposals for the
Ponzi-scheme entitlement programs that are bankrupting us are nowhere to be
seen.
If ever there were a roadmap for prompting massive capital flight
and emigration of productive citizens toward capitalism’s nascent frontiers in
Asia, this is it.
The IMF justifies its tax increases by highlighting trends in
income inequality along with a claimed decline in the progressivity of most
income tax regimes. Using “perceived equity” (otherwise known as “envy”) as the
key metric motivating tax policy, the report intentionally conflates tax rates
with tax revenue, lamenting a decline in the top marginal income tax rates paid
by the highest earners. Never mind that these high earners have been forking
over more money, a higher percentage of their gross income, and a larger share
of aggregate national tax revenue in recent years. It also ignores the Laffer
Curve effects that are clearly visible in the data. As for incentive, the
report pays no heed to the idea that wealth and income can only be taxed if
someone is motivated to create it.
The report’s most chilling aspect is the clinical manner in which
it discusses how to restrict the mobility of the rich, along with the
inconvenience of factoring in their “well being.”
Again, to quote the report:
“Financial wealth is mobile, and so, ultimately, are people. …
There may be a case for taxing different forms of wealth differently according
to their mobility … Substantial progress likely requires enhanced international
cooperation to make it harder for the very well-off to evade taxation by
placing funds elsewhere.
“A revenue-maximizing approach to taxing the rich effectively puts
a weight of zero on their well-being—contentious, to say the least. What then
if some weight is indeed attached to the well-being of the richest? Figure 19
provides a way to think about the trade-off between equity and efficiency
considerations in setting the top marginal rate in that case. … If one attaches
less weight to those with the highest incomes, the vote would be to increase
the top marginal rate.”
Yes, this is where the bankruptcy of the modern entitlement state
is taking us—capital controls and exit restrictions so the proverbial four
wolves and a lamb can vote on what’s for dinner. That’s the only way to keep
citizens worried about ending up on the menu from voting with their feet.
Again, straight from the report:
“There is a surprisingly large amount of experience to draw on, as
such levies were widely adopted in Europe after World War I.”
And we all know how well that worked out.
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