IMF proposes a tax of about 10 % on Money in Bank Accounts for households with a positive asset.

The International Monetary Fund (IMF) is always the cheerleader to raise taxes to support government. They are instructing Germany to raise taxes and also talking about just imposing a 10% tax on all money that deposits in banks throughout Europe. Yes – you read that one correctly.

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  • tom_billesley

    O/T Eight arab princesses to go on trial in Brussels.
    http://www.independent.co.uk/news/world/europe/uae-princesses-eight-al-nahyan-belgium-trafficking-servants-united-arab-emirates-inhumane-treatment-a7731911.html
    Shekha al-Nahyan and her seven daughters have been accused of smuggling employees without visas and leaving them without food or a bed.

    • Watchman

      Slavery is still very much alive in Europe. Expect a small fine. Maybe dropping of all charges and an abject apology for the ‘mistake’ if the UAE flexes its financial muscle against Belgium.

  • Exile1981

    Thats why Macron and the other elites keep their money in accounts outside europe.

    • Etobicoke_Gladiator

      Macaroni and halal cheese is now the government of the day in Afro-Islamic “France”. *sigh*

  • huron

    Theft. Income tax is only to pay for the war. Trust us it is for your own good. .once it gets to rolling it will crush you if you stand up to stop it.

    • Watchman

      The war on native Europeans, using troops imported from the Middle East and Africa? Currently a cold war and a demographic war, but a war nevertheless.

      • huron

        Citizen war keep the gov out

  • Drunk_by_Noon

    No wealth redistribution going on here people, now move along.
    One thing that I heard, that I originally dismissed as conspiratorial nonsense, but now I don’t know, is the belief that money is no longer made from contributing to the economy by making things, but that real profit now comes from debt servicing.

    • Watchman

      European countries general has been borrowing money from future generations to spend on itself now. Sooner or later this money has to be paid back, with interest, or the system will eventually crash catastrophically to resolve these unsustainable debts.

  • tom_billesley

    Behind the veneer of “all is well” being promoted by both world Governments and the Mainstream Media, the political elite have begun implementing legislation that will permit them to freeze accounts and use your savings to prop up insolvent banks.
    This is not conspiracy theory or some kind of doom and gloom. It’s basic fact.
    When a Cyprus bank went bust in 2013, the Government SEIZED 40% of ALL SAVINGS DEPOSITS OVER €100,000.
    http://www.zerohedge.com/news/2014-07-10/new-laws-allow-government-seize-savings-deposits-during-crisis

    Germans will want to switch to tangible assets such as art, jewels, and gold.
    It’ll boost trade in such goods, both for legitimate traders and for scammers. Burglars will await it eagerly.

    • Drunk_by_Noon

      This

    • Watchman

      Expect a huge rise in the rental of safe deposit boxes if this IMF plan is implemented. Expect legislation to be later brought in to allow governments (i.e. IMF proxies) to allow the opening and assessment of these safe deposit boxes for a 10% tax on the value of their contents too.

      • WalterBannon

        Improvised Explosive Safe Deposit Boxes will end that adventure fast

  • Blacksmith

    I don’t think the bankers are gonna like this much. People will stop putting money in banks.

    • Drunk_by_Noon

      That might not be possible for most people.

      • Blacksmith

        If they started to tax my money at 10%, I would find a way not to put my money in a bank.

        • WalterBannon

          Or put lead in your politicians…

        • Clausewitz

          Fuck it then, I’m taking all my money out of the bank and just buying more guitars. “Really honey, every axe I’ve bought has appreciated by more than 40%”. Much better return than the banks.

      • Watchman

        Yes, that is the problem for much of the middle class: their wages is deposited into a bank account and they have little opportunity to avoid having it all scrutinised and taxed. The rich can afford smart lawyers and accountants, the poor can work in the cash-only black economy: both can hide money accordingly.

    • Bataviawillem

      I can see a bank run on the horizon and that would be the death blow for Europe.

      • WalterBannon

        Good. The end of the EU needs to be hastened before many more muslims arrive. That way there will still be something left to rebuild after the revolution.

        • Watchman

          And reduces the incentive to move to Europe if there is no massive welfare state to parasite off.

  • Watchman

    So how would that work? Once only tax? Every year? Every time you transfer money they keep 10%? Would that mean that if you dislike your bank and transfer your whole account to another bank, you immediately get to give away 10%. If you pay off your credit card with funds from your bank account, you instantly owe another 10%?

    • Clausewitz

      Basically it’s a yearly process of stealing 10% of what you have in the bank. Between this and Junior going after your RRSP’s I can pretty much be assured that he’s rolling around in orgasmic distension just thinking about this.

  • The Butterfly

    This surely wouldn’t cause a run on the banks.

  • Etobicoke_Gladiator

    FUCK AND BOYCOTT EUROPE. Yeah, first time in all my years of posting on BCF I’ve used only caps. Deal with it. F*** Europe.

    • WalterBannon

      already divested all my retirement investments out of European assets

  • bargogx1
  • WalterBannon

    That would be the straw that broke this camel’s back. It would be time for armed insurrection.

    • Clausewitz

      Hell I’m old. Lived a good life. Slot me in for the front ranks. I’m still pretty good with a firearm.