Eurozone Considering 10% Tax On Money In Bank Accounts

The International Monetary Fund (IMF) has instructed Germany to raise taxes and advised the Eurozone to impose a 10% tax on all money deposited in banks throughout Europe.

The International Monetary Fund (IMF) has instructed Germany to raise taxes and advised the Eurozone to impose a 10% tax on all money deposited in banks throughout Europe.

The IMF claims that taxing your money when you earn it and then taxing your money again when you spend it is not enough. European governments should also tax your money while you save it.

This latest central banking ruse represents theft by a tribe which believes they are entitled to steal from everybody else. They aim to kill off the middle class entirely. In the central bankers’ grand vision, there are slaves and masters, no one else.

Armstrong Economics reports:

The IMF warns that there is a relatively high tax burden on lower incomes with a comparatively low burden on assets.

The IMF argues for higher taxes on property  are in fact necessary and that the government should demand higher wages to also give impetus to the growth in Germany, yet this is magically creating no inflationary impact.

Years ago, Italy simply imposed a tax on money in one’s account. This was called a “capital levy”. This was a one-time charge as an exceptional measure to restore the sustainability of the debt. The IMF is also suggesting that measure be invoked to help the coming Sovereign Debt Crisis.

The attractiveness of such a measure is that such a one-time tax can be levied before a tax evasion can even occur, especially if cash is eliminated and money can only exist in bank accounts. This requires the belief that this measure is unique and never repeated.

The IMF has already calculated how much the measure would cost every Eurozone citizen:

“The amount of the tax would have to bring the European sovereign debt back to the pre-crisis level. In order to reduce the debt to the level of 2007 (for example in the euro area countries), a tax of about 10 percent is needed for households with a positive asset.”

As you can see, there is NEVER any discussion about reducing taxes or the size of government. The solution is always to raise taxes and to not even look at the old Italian trick of a 10% seizure of all cash in your account. We highly recommend to diversify to assets that are MOVABLE and not subject to taxation merely to possess.

Baxter Dmitry

Baxter Dmitry

Baxter Dmitry is a writer at Your News Wire. He covers politics, business and entertainment. Speaking truth to power since he learned to talk, Baxter has travelled in over 80 countries and won arguments in every single one. Live without fear.
Email: baxter@yournewswire.com
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Baxter Dmitry