(International Monetary Fund)
It recommends a series of escalating income and consumption tax increases culminating in the direct recovery of assets.
Why does the IMF suggests that? As global governments and central banks for years pumped billions of dollars into the banks and stock markets, the public debt rose by tens of billions. Now, governments and central banks no longer hold this debt level, and global wealth confiscation is their desperate way to maintain this "Ponzi-scheme" *.
The sharp deterioration of public finances in many countries has revived interest in a "capital levy". As recommended, therefore, the IMF sees a one-time tax on private wealth as an exceptional measure and establish debt sustainability again.
Higher tax rates are necessary to reduce the public debt. But the reduction in the debt ratio to the level of the end of 2007 would require a tax increase of about 10 percent of households with a positive net worth. The IMF will therefore collect 10% of your personal savings in addition to the taxes you already pay.
But is this just the beginning of the proposed asset seizures? The IWF proposal shows us the classic way in which all governments can work together to track the savings of its citizens and take taxes.
The financial investment is mobile, just like people. The taxation of various forms of wealth will have to adapt their mobility in the future. If international cooperation strengthens, it becomes more difficult for the wealthy to evade taxes by placing them elsewhere. The IWF economists know very well that there are not enough wealthy people to support their governments. Even if they would succeed with 100% taxation of the assets of the top 1%. Which means that every household with positive net assets would be rendered - according to the IMF phrasing - by its values.
Even such plundering of private property is not sufficient to settle the debt, or fund budgets of Western governments. It is only "debt sustainability" that needs to be restored to maintain the bond markets until the next crisis comes and stronger actions will be needed . And it will come.
If politicians fail, who engage in this type of large carnivorism, the following scenario will be bankruptcy and hyperinflation. The IMF makes no proposals to respond to the Ponzi-scheme that drives us into bankruptcy. The modern 'claim government' takes away our capital control and blocks the exits, while the proverbial four wolves and a lamb are voting on what's for dinner.
* Ponzi-Schema siehe → Investopedia
