Topic: The Coming Global Wealth Tax (Read 5076 times)

Don't forget that the 10% with BTC will be the ones with enough money to give anonymous perks to the politicians that run this place.

Or whoever receives it sends it through a bitcoin mixer or CoinJoin, and the coins they end up with are no longer linked to be, and are spread among a dozen or more other random unknown people.


It's a good thing bitcoin has it then. You just have to work a little to get it.

They are not so desperate yet to risk their lives. Don't forget about the perks Putin gives to some part of population (military, police, useless bureaucracy) to buy their loyalty.

Right now probably 40% are against Putin and can't do much about it.

In Russia in 1917 only ~2% of population were enough to overthrown the monarchy.

10% is a significant number of people, enough to make their own party or destablize a country's economy.

And then they can put you in jail until you pay.

They waterboard you (or put you in "the hole" in maximum security prison like they did to Martin Armstrong) until you give up your passwords.

And they make it clear that anyone that receives your coins in payment is going to receive the same treatment, thus your coins become unspendable.

Without anonymity, you have nothing.

USD protester - Freeze your account, take your money, keep you poor and in jail. Despite spending lots of money to keep you in jail, they still get your money, so come out on top.
BTC protester - with your money, keep you in jail, you still have money to pay lawyers and buy off politicians. They spend money to keep you in jail, but get nothing in return. Long term, they'll just be losing money and pissing people off.

And then they can put you in jail until you pay.

How much is that wealth really in property or goods?

I belive most of it is in stocks etc. Which is just like having 10k BTC and saying you are worth 10 millions. Try to get rid of those and see the result...

That would be quite horrible. For some reason 99% thinks that when a rish persoon has, say, $50mil, they are sitting on a huge pile of money bags with tons of paper in it. In truth, all that wealth is stored in various assets, like realestate, factories, machinery, and other business related stuff (even cash used to run the business). If you seize 25% of all the wealth from the 1%, you will likely force them to shut down and sell off 24.9% of all the businesses, and thus jobs, in the whole country.

Can't they find any other alternative to boost their economies instead of this global tax?

Hi,
It is definitely possible, look at Cyprus. :-)

They say it is one-off, but the article also says that only gets us to 2008 debt levels. So, if they can pull it off once, it will happen again, it will just be a question of when then..

:-)

I wonder if this is even possible.I also wonder if all my money in the bank will be gone in the UK thanks to the tax or just a portion of it?I heard that it's a one off tax from the article so hopefully they won't be too difficult.

Somebody farted?

Somebody farted?

but they will not rob me of my money, all of it is already in bitcoins.

We're discussing terminology here. I'm using the original definition of inflation while you're using the newer scam-artist version. Prices are just a potential indirect consequence of inflation. Measuring inflation by looking at prices is like measuring mass by throwing it against a wall and looking at the damage. Using a scale is far more precise and effective.

Face it, this should happen.  The rich get ever richer and screw over the poor.  The poor are paying for the failures of the banks whilst the rich earn ever more.  They will tell us to be outraged, but why do we care if they take 25% of all wealth of everyone with over 5 million?  It would only be a benefit to the masses, the 99% fight back!

Imagine, an end to austerity, national debts back to normal, lower taxes and it won't hurt anyone. Sounds good to me.

I can see the argument.  If you do it to 1 country though, wouldn't that just like destroy that country's economic situation.  It should probably be global vs. 1 country only.  Not sure I'm in favor of it though, just saying should be global vs. 1 country.  I think the logistics of this are impossible though, currently.  

Look at what happened in Cyprus earlier this year. Lots of complaints, lots of people unhappy, lots of protests, but it still happened. Zeroday on these forums lots ~700k euros.

These trial balloons are the warnings of what the socialist parasitic politicians want to do.

Face it, this should happen.  The rich get ever richer and screw over the poor.  The poor are paying for the failures of the banks whilst the rich earn ever more.  They will tell us to be outraged, but why do we care if they take 25% of all wealth of everyone with over 5 million?  It would only be a benefit to the masses, the 99% fight back!

Imagine, an end to austerity, national debts back to normal, lower taxes and it won't hurt anyone. Sounds good to me.

There is already a global wealth tax, its called inflation.

Rassah


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Re: The Coming Global Wealth Tax
Today at 03:06:12 PM
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That's just incoherent babbling not really related to the issue at hand. An inflation in the supply of something means that the supply is higher. It is really not more complicated than that. Whatever fairy tale you choose to believe.

Well I am very happy to see this awareness.

So the remaining question is can Bitcoin save us?

And the answer is definitively "NO". That is precisely why I got so involved since April. If I felt Bitcoin was a solution, I would have adopted it when it was $50. I studied Bitcoin in depth in March, see my Bitcoin : The Digital Kill Switch thread.

...

Exchange-owned Sybil identities to hit the government imposed limits in favor of the owner of the exchange.

When the access is very limited as it currently is with exchanges, this tells you that Bitcoin is a fraud.

I know the solution to this, it is a CPU-only coin and anonymity, so we don't need exchanges so much.

Excuse me? It's you and most of the rest of the world who are using wrong terminology. Inflation is the increase of total outstanding. So inflating gold would require making more gold. They trained you to believe inflation means something else to get you to accept their global scam but inflation is just that and it not 2-3% per year they lead you to believe.

Don't believe everything the governments tell you please.

Inflation is 30-50% in the last few years for USD and EUR (Increase in M3) isn't that sufficient?

I alos think that a wealth tax doesn't just include fiat but also everything else INCLUDING Bitcoin. So the options will be either paying or tax evasion.

You don't understand economics.

Private debt means an elevated level of commerce and thus tax payments pumped up by debt. When the debt write-down comes (which hasn't been allowed yet), then the government debts will skyrocket.

Also the interest rates have been held artificially low (see a devastating chart) by the central banks. This is just allowing the aggregate debts and misallocation of capital and human lives to increase. When the interest rates go back up to normal levels, the debts of the governments are going to skyrocket in a runaway spiral to apocalypse.

Everyone in power knows this. They are planning to confiscate all private wealth to pay for the write-down. Merkel lied to get elect, then immediately after federalized the German banks to the EU. It is going to be an all-for-one-and-one-for-all collapse. Everyone will pay their "fair share", hahaha. Stupid socialists deserve it.

You have no where to hide. Certainly not Bitcoin.

You will pay dearly for having lived in that debt-based, state-sponsored socialism.

P.S. it ironic how Europeans comfort themselves with notions of how their governments are less rapacious. Hilter's government was also so caring in the beginning while it was printing money for universal health care. You all never learn your lesson about collectivism and always come back for sloppy seconds, thirds, fourths, ...

Exchange-owned Sybil identities to hit the government imposed limits in favor of the owner of the exchange.

When the access is very limited as it currently is with exchanges, this tells you that Bitcoin is a fraud.

I know the solution to this, it is a CPU-only coin and anonymity, so we don't need exchanges so much.

There is already a global wealth tax, its called inflation.

I disagree that theres anything logical about it. It might theoretically redistribute the wealth (which i guess would theoretically fix things), however, impossible to implement and as if offshore bank accounts weren't enough, we have gold, bitcoins, and dummy coorporations. Impossible to implement fairly and would drive capital investment as FAR AWAY as possible.

My points is that even without Bitcoins, they would never implement something so stupid.

If you read the prequel , they weren't quite that oblivious (or happy). Just self denial.

Oh wait, thats us.

Wealth taxes are the natural and logical consequence of irresponsible deficit spending

Bitcoins are a natural and obvious hedge against govt sponsored theft

The case rests...

This is just the beginning. (See my post titled Economic Devastation)

If you have ever read Asimov's foundation trilogy we are like the happily oblivious capital of the empire. Bad bad times are ahead.

who said "bitcoin is a bubble"?

There's no way that would happen without extreme riotting...

There's no way that would happen without extreme riotting...

Between ObamaCare, Iran and last quarter's uptick in U.S. economic growth, taxpayers these days may be distracted from several dangers to come. But households from the United States to Europe and Japan may soon face fiscal shocks worse than any market crash.
...
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.

As applied to the euro zone, the IMF claims that a 10% levy on households' positive net worth would bring public debt levels back to pre-financial crisis levels. Such a tax sounds crazy, but recall what happened in euro-zone country Cyprus this year: Holders of bank accounts larger than 100,000 euros had to incur losses of up to 100% on their savings above that threshold, in order to "bail-in" the bankrupt Mediterranean state. Japanese households, sitting on one of the world's largest pools of savings, have particular reason to worry about their assets: At 240% of GDP, their country's public debt ratio is more than twice that of Cyprus when it defaulted.

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. 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.