Millionaires group calls for wealth tax at virtual Davos
They are trying to save the central Bank's fractional banking system after all the splurging debt and then seeing having to start serving it all with higher interest rates to try to contain inflation.
Anytime the big money wants more taxes for themselves, then is not because they wanted to help anyone but only for their money system to continue without any more chaos on their monopoly money with derivates.
serf
https://news.trust.org/item/20220118235659-5pnw5
ZURICH, Jan 19 (Reuters) - A group of more than 100 billionaires and millionaires has issued a plea to political and business leaders convening virtually for the World Economic Forum: make us pay more tax.
The group calling itself the "Patriotic Millionaires" said that the ultra-wealthy were not currently being forced to pay their share of the global economic recovery from the pandemic.
Comments
When I was a lot younger being a millionaire was something special and it was considered great wealth. Now having a million dollars in assets is quite common and not all that wealthy. I guess the millionaires backing this must have hundreds of millions and for them it is small potatoes. However, I don't think they have thought of all of the ramifications of their proposal. If you are going to tax assets like real estate and artwork, who determines the value? If the government says your million dollar home or Picasso on the wall are worth double, what will be your recourse. If you start at a modest tax rate on assets today what will prevent the government raising that rate in the future? What will the effect of taxes have on the resale value of those assets?
Most people who complain about the rich having too much money have no basic concept of economics. There is not a finite amount of wealth in the world. Redistribution only make sense to a couple of groups.Those who are too lazy or stupid to generate their own wealth and those that live under a suppressive form of government where they are prevented from succeeding financially. Unfortunately the lazy and stupid vote in this country and our government is getting more suppressive. Bob
those guys make the yearly tax money in a day
That's right and governments will have a hard time rolling over debt at new interest rates soon, and they know if the money changers crash then some of them will be taken down with the rest of us, but most who own everything already can ride it out and regain their status under a NWO cashless money exchange when it comes.
serf
It's a sure bet that if a wealth tax is passed, there will be huge loopholes, unavailable to the average Joe, that the politicians, celebrities, and other elites will use to totally avoid it.
Just Obama's share the wealth nonsense