The world is awash in liberal mismanagement and near bankruptcy but never fear, the International Monetary Fund has the answers. If you have the stomach, you can read the full 107 pages of socialist theivery at this link.
To rid the world of debt, according to the IMF report, governments can either default on government issued bonds thereby screwing the people dumb enough to buy them or have private “central banks” like the Federal Reserve continue to inflate the debt away by printing even more phony money thereby screwing all the people.
The IMF’s idea of what constitutes “wealth” comes from a socialist point of view – if your assets, which include your home, car, stocks, bonds, retirement, etc., is bigger than your debt, you are wealthy and would have to pony up an an extra 10% tax on those assets.
While they may be socialist, they aren’t completely stupid because they also realize that anyone that actually has a few extra bucks isn’t going to willingly hand it over to some liberal socialist government to be wasted, so drastic measures would have to be taken to prevent the wealth (they don’t really care about the people) from leaving the country. Stealing, according to the IMF should be perfectly legal. And just in case people find a way to leave the country with their money or send their money out of the country, no problem. The other big liberal socialist bankrupt governments should be more than willing to steal it for them.
But stealing all that wealth isn’t going to solve government’s overspending problem so the IMF suggests that if there is anything left to steal, governments should raise taxes to around 60-70 percent. “A revenue-maximizing approach to taxing the rich effectively puts a weight of zero on their well-being. . ”
According to an article at The NewAmerican, private companies that attempt to reduce their already-crushing tax burdens using “tax planning schemes,” as the report calls them, are also in the crosshairs for increased wealth confiscation. In a section headlined “Tricks of the Trade,” for example, the document blasts business efforts to provide services directly from “low-tax jurisdictions” as “abusive.” How dare they want to keep the money they earned!
Among other schemes discussed in the report is “harmonizing” taxes across jurisdictions, a longtime globalist goal. To ensure that governments can extract as much wealth as possible from the productive sector of the economy, more cooperation between them is needed to eliminate tax competition. After all, if one government sets lower tax rates to attract businesses and capital, other regimes are being deprived of what the IMF appears to believe is rightfully theirs to seize.
Ryan Bourne, head of economic research at the Centre for Policy Studies said “The IMF is playing with fire by giving intellectual backing to punitive taxation. Underlying these policies is an ideological assumption that wealth is a collective resource, with governments the benevolent seekers of the common good, whose ability to provide services is undermined by an eroding tax base…. These policies should be anathema to anyone valuing individual freedom, growth and long-term fiscal responsibility.”
Should be but I’m not so sure there are any countries left that haven’t been taken over by leftist governments that continually plot and plan to steal everything they can get their grubby little paws on.