Tags: US | economy | tax | government

American Economy Under New Global Attack

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Monday, 03 Nov 2014 08:07 AM Current | Bio | Archive

The reasons for the American economy's failure to recover are not overly complex.

The problem is our government and the international quasi-governmental institutions it has created and funds.

The assault on our free-market capitalist system is not new. To our own politicians and bureaucrats, us taxpayers are the enemy. We are a criminal class who lie, cheat and steal the government's money.

Politicians and bureaucrats believe that all manna doesn't come from Heaven but from Washington, D.C. You didn't earn that . . . Corporations and businesses don't create jobs . . . Vote for me and when I'm in office I'll get the government to create jobs.

To this end, there are more than 1,000 federal agencies. Each bureaucracy is given its bit of authority so that together they regulate every aspect of life. Every one of them operates a scam to justify more spending and hiring more people to join the public service unions, which then support the elections of politicians voting for bigger budgets.

It really doesn't make much difference which political party is in power. Every year the government spends more money and borrows more. Tax bills go up, fees for government services increase and the bureaucracies expand.

But a bigger monster is now taking on the assault of the American economy.

The United States is quickly becoming subservient to a new global government that wants to harmonize the world's economies under one central international control. And the United States is the primary funder of this effort.

For decades the United States has funded quasi-governmental institutions like the International Monetary Fund (IMF), the World Bank, the Organization for Economic Cooperation and Development (OECD), the United Nations and the G-20, to name just a few. All are really proxies for the United States and the other so-called industrial powers. In reality they are all the same. And all are dedicated to creating a central world order to control the global economy.

Recognizing that private industry, competition and the free market is the antithesis for bigger government, the only way to make sure that the entire global economy can be under control by a self-selected group of international elitists is to institute a global governing body.

And that is what has been promoted this past month. One might even view this as the final solution.

The IMF, for example, has doubled down on its efforts to enact a global wealth tax. Its recently issued report states, "The sharp deterioration of public finances in many countries has revived an interest in a capital levy, a one-off tax on private wealth, as an exceptional measure to restore debt sustainability . . . and may be seen by some as fair."

What its means is that governments intend to confiscate your money so they can maintain the ability to borrow more and spend more to reduce world wealth inequality, achieve tax justice and, of course, stop climate change.

The OECD proposes the means to enforce this tax. It announced the creation of the Global Account Tax Compliance Act. This would require each government to collect massive amounts of financial and other personal data. All the information would be automatically exchanged among government tax enforcement agencies. In fact, it is putting together the computer system necessary right now.

The United States is already putting that mechanism in place. The Obama administration has been ratcheting up the Foreign Account Tax Compliance Act (FATCA), which brings every foreign financial institution in the world under the IRS' rule. Foreign financial institutions are required to obtain a global tax identification number — something like your social security number.

The Treasury, under its Financial Crimes Enforcement Network, has proposed a regulation requiring U.S. financial institutions to start collecting detailed private financial information on all U.S. citizens. The Treasury takes the position that it does not need to get Congressional approval and can do anything it wants by regulation. Congress, as far as the bureaucracy is concerned, is irrelevant. Maybe they are.

The U.S. economy is not in recovery. If GDP growth is really 3 percent, then, at best, the economy is in a stall.

Americans had better start waking up to the fact that the American economy is under a hostile and fervent global attack.

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Kleinfeld
The reasons for the American economy's failure to recover are not overly complex.
US, economy, tax, government
707
2014-07-03
Monday, 03 Nov 2014 08:07 AM
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