Why Your Savings And Retirement Will Soon Be Gone
- Governments steal as much as they can without collapsing the system (they hope).
- The more money they create for nothing, the richer and more powerful they get.
- The bigger the government gets and the more reckless it gets, the more it must suppress its people, because many begin to wake up.
- The bigger government crime, the greater the propaganda and deception.
- Fact: Every dollar the government creates means that a dollar is stolen from the people. Paper money confiscates wealth.
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.