December 13, 2013
Romain Hatcheul’s largely passed over article on the Wall Street Journal’s website was revisited yesterday by Simon Black over at the Sovereign Man blog. Black spells out the latest IMF scheme to steal wealth from the producers and enslave billions of people: a taxation rate over 70 percent.
“The IMF’s team of monkeys has been working around the clock on this one, figuring that developed nations can increase their overall tax revenue by increasing tax rates,” Black writes. “They’ve singled out the US, suggesting that the US government could maximize its tax revenue by increasing tax brackets to as high as 71%.”
Black notes that the latest criminal plot by the “grand wizards of the global financial system” is telling. It “might be the clearest sign yet that the whole house of cards is dangerously close to being swept away.”
Can a person still be considered “free” when 71% of what s/he earns is taken away at the point of a gun by a bankrupt, bullying government? Or are you merely a serf then, existing only to feed the system?
Hatcheul explains that taxation schemes like the one cooked up by France’s socialist government – a 75% tax on income above one million euros – will not produce the result desired: the wealthy will avoid taxation, as French actor Gérard Depardieu did when he turned over his passport and became a tax exile. French billionaire Bernard Arnault applied for Belgian nationality in response to socialist thievery and penned a piece titled: If U.S. Had 75% Tax Rate, You’d Leave Too.
Of course these measures won’t return the world’s top economies to sustainable levels of debt. That could be achieved only through significant economic growth (the good way) or, as the IMF puts it, “by repudiating public debt or inflating it away” (the bad way). In October the IMF floated a bold idea that didn’t get the attention it deserved: lowering sovereign debt levels through a one-off tax on private wealth.
The IMF is suggesting government should go into your bank account and clip what it deems appropriate and give it to the bankers. Hatcheul says the internationalist loan sharking operation is looking at 10 percent of bank held savings.
“From New York to London, Paris and beyond, powerful economic players are deciding that with an ever-deteriorating global fiscal outlook, conventional levels and methods of taxation will no longer suffice,” he writes. “That makes weapons of mass wealth destruction – such as the IMF’s one-off capital levy, Cyprus’s bank deposit confiscation, or outright sovereign defaults – likelier by the day.”
Old fashioned taxation is out. Expect outright grand larceny at the local bank enforced by the government.
Even if this highway robbery is limited to a few million rich people – and it won’t be, only a large and unprecedented fleecing will satiate the thieves – we can expect the economic results to be significant.
Stealing from producers who create wealth and prosperity will result in lower standards of living for all except the mega-rich who, of course, never pay a dime in taxes (and the really insidious ones employ government to steal even more from you to pay for their monopolistic enterprises and cover their financial market gambling loses).
The latest IMF scheme is the result of a century of brainwashing that insists taxation is part of a social contract between individuals and government. The internationalist banksters now insist we no longer have use for the social contract concept. In order to prop up a corrupt financial system, outright robbery will be required.
This is part of the reason we have a militarized panopticon police state in place. Burglars usually arrive armed and will easily resort to violence if their plans are challenged or resisted.