The Coming Global Wealth Tax

[AnonyMint]

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

Yes but that's no longer enough. Expect much more of this in the near future. After all how can you argue you should not contribute and have most of what you own taken help your government fix the economic crisis.

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.

No because the debasement is not going to pay down debt. QE is ending up as dollar bond issues in the developing world, i.e. it is being used to increase debt.

Please learn to use correct terminology. Increases in the money supply are not inflation, they are debasement. M x V = P x Q. The Q can rise while M is, so no rise in P.

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.

Incorrect.

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.

Incoherent to an idiot.

Amazing that you can't comprehend that when productivity (or output) rises prices decline. If money supply rises at same rate as productivity (or population growth and output), then prices do not rise and there is no inflation.

We actually had deflation in the 1800s even while the money supply was rising due to private banks creating fractional reserves out-of-thin-air from gold deposits.

You ignore the measured reality of what happened.

[AnonyMint]

Somebody farted?

Rassah


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Re: The Coming Global Wealth Tax
Today at 03:06:12 PM
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[NUFCrichard]

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.

[Jcw188]

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

I think inflation hits the middle class more and creates further inequality.  The rich have more investments which are growing faster than inflation.  While poor ppl are stuck with a 1% interest rate.

[Jcw188]

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. 

[zimmah]

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

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.

exactly, they are using small countries first, and take notes of how the people react, and continue it on a bigger scale, robbing everyone of their belongings. but they will not rob me of my money, all of it is already in bitcoins.

[NUFCrichard]

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.  

I don't think it will happen, it is much easier to print money until the system collapses, but I think it should.  If one country did it, the rich would leave that country (stupidly, as that country would have already acted and not need to again).  I expect that if it worked, other countries would follow, but probably with less sucess as people would have hidden their money much better after the first grab.

Thinking about it, the country that moves first would be the most sucessful...

[Rassah]

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.

That would be quite horrible. For some reason 99% thinks that when a rich 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.

[AnonyMint]

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

If Bitcoin is a ponzi-bubble collapse, it could rob you instead.

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

Yes but that's no longer enough. Expect much more of this in the near future. After all how can you argue you should not contribute and have most of what you own taken help your government fix the economic crisis.

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.

No because the debasement is not going to pay down debt. QE is ending up as dollar bond issues in the developing world, i.e. it is being used to increase debt.

Please learn to use correct terminology. Increases in the money supply are not inflation, they are debasement. M x V = P x Q. The Q can rise while M is, so no rise in P.

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.

Incorrect.

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.

Incoherent to an idiot.

Amazing that you can't comprehend that when productivity (or output) rises prices decline. If money supply rises at same rate as productivity (or population growth and output), then prices do not rise and there is no inflation.

We actually had deflation in the 1800s even while the money supply was rising due to private banks creating fractional reserves out-of-thin-air from gold deposits.

You ignore the measured reality of what happened.

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.

Continue your ignorance. I won't stop you. Debasement is the original term for what you are erroneously renaming "inflation". If you say "monetary inflation" that is a sometimes acceptable replacement for "debasement", but as you see it causes dummies like you to reduce it to "inflation" which is ambiguous between "price inflation" and "monetary inflation" which are not the same thing.

[Rassah]

Somebody farted?

Rassah


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Re: The Coming Global Wealth Tax
Today at 03:06:12 PM
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I do find your method of arguing amusing btw.

Anony: If you are wealthy, you can crash the bitcoin market by selling a chunk of your wealth, and then making money on the resulting  panic.
Ras: Extremely improbable and difficult to pull off on an open parket, since your crashing will be competing with others waiting to buy your cheap coins.
Anony: If you are that rich, you can just own the exchange you are doing this on.
Ras: How would that stop your competitor from trading and competing with you right on your own exchange?
Anony: Sybil attacks! This wealthy person can make so many trades on their exchange, using fake identity trading bots, that they will max out government imposed daily trading limits!
Ras: Why can't competitors also use a sybil attack, and use lots of their own fake account bots to trade at the same time as you? Also, how do you cause a panic-induced market crash, if the first thing you do is literally freeze the market? (or at the least make it obvious that your exchange is severely broken)
Anony: I know how to fix the issue of wealthy people manipulating exchanges like that. Make a CPU-only coin. Because CPU-only coins will not need an exchange
Ras:  *fart*

Yeah, it's things like that that make people not take you seriously.

[knarzo]

Somebody farted?

Rassah


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Re: The Coming Global Wealth Tax
Today at 03:06:12 PM
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You have someone you can talk to? A relative? Or someone you have an emotional relationship with? You seem to be emotionally unstable.

[film2240]

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.

[cr1776]

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.

[film2240]

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.

Uh oh.Looks like we'll have a hard time then since all our money could be taxed eventually.There seems to be no way out of this.It'll either pay up or face consequences.Will this affect just multinationals or will it affect everyone,including me? Can't they find any other alternative to boost their economies instead of this global tax?

[AnonyMint]

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

Long-term no.

The only question is who pays for the debt write-down, the negative net worth masses or the upper middle class with positive net worth? Answer: bank robbers rob banks because that is where the money is.

99% versus the 1% baby! And we are the "1%".

More QE ending up as dollar bond issues in the developing world, which is just going to make the impending crash worse?

Hey socialism is peaking. Debt is peaking. The 3 decade ride down is going to be pay back for the 3 decades ride up in debt and freebies.

The masses (who vote for Obama and socialists in Europe) don't realize that if you destroy the net worth of society, everyone goes into a Dark Age. We create the businesses that employ them.

We are headed towards an outcome where the government tries to take care of everyone and steal from those who have anything. This is very, very, very, very bad and dangerous spiral into the Dark Age toilet.

[Ekaros]

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.

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.

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...

[LiteCoinGuy]

you cant make that globaly but in parts of the world, yes. sad enough.

we will all pay for this mess, some more, some less.

[cr1776]

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.

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.

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...

Probably most is invested in assets, so to pay an asset tax as you point out would cause a large drop in prices.

[AnonyMint]

Net worth tax is coming because current debt is $150 trillion.

[Rassah]

Even if bitcoin is not anonymous, people can still refuse to give out passwords, or send to unspendable accounts in protest. Confiscatable form of wealth will be dwindling fast.