Voices from Russia

Sunday, 13 October 2013

Sanity Strikes the Establishment… Tax the rich? IMF Sparks a Mini-Revolution

00 Obama Tax Rates. 13.10.13

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Tax the rich and better target the multinationals… this week, the IMF set off shockwaves in Washington by suggesting countries fight budget deficits by raising taxes. Tucked inside a report on public debt, worries about the American budget crisis mostly eclipsed the new tack, but didn’t escape the notice of experts and NGOs. Nicolas Mombrial, the head of Oxfam in Washington, said, “We had to read it twice to be sure we’d really understood it. It’s rare that IMF proposals are so surprising”. A guardian of financial orthodoxy, the IMF, which is holding its annual meetings with the World Bank this week in the American capital, typically calls for nations in difficulty to slash public spending to reduce their deficits. Nevertheless, in its Fiscal Monitor report, subtitled “Taxing Times”, the Fund advanced the idea of taxing the highest-income people and their assets to reinforce the legitimacy of spending cuts and fight growing income inequalities.

The IMF wrote, “Scope seems to exist in many advanced economies to raise more revenue from the top of the income distribution”, noting “steep cuts” in top rates since the early 1980s. According to IMF estimates, taxing the rich even at the same rates as during the 1980s would reap fiscal revenues equal to 0.25 percent of economic output in the developed countries. The IMF report stated, “The gain could in some cases, such as that of the USA, be more significant”, around 1.5 percent of GDP, which also singled out deficient taxation of multinational companies. According to the IMF, in the USA alone, legal loopholes deprive the Treasury of roughly 60 billion USD (1.94 trillion Roubles. 62 billion CAD. 63.4 billion AUD. 44.3 billion Euros. 37.6 billion UK Pounds) in receipts.

The 188-nation IMF said that it didn’t want to enter into a debate on whether the rich should pay more taxes. However, it said, “The chance to review international tax architecture seems to come about once a century; the fundamental issues shouldn’t be ducked”. The IMF managing director, Christine Lagarde, kept up the sales pitch for a more just fiscal policy. On Wednesday, Lagarde, a former French Minister of Economy and Finance, said in a panel discussion “It’s clearly something finance ministers are interested in; it’s something that’s necessary for the right balance of public finances. There are lost of wasted opportunities”.

After the country’s highest court overturned the French Socialist government’s proposal of a 75 percent tax on the wealthy last year, French Minister of Economy and Finance Pierre Moscovici cautiously welcomed the Fund’s new direction at a news conference in Washington, saying, “If the core idea is that fiscal policy is a policy that aims to reduce inequalities, I wouldn’t know how to protest against that”. Moscovici said that it was a “positive development”, but he downplayed that it marked a “significant change” for the IMF.

The Organisation for Economic Co-Operation and Development, which is leading the global battle against tax havens and tax evasion by multinationals, welcomed the IMF at its side. Pascal Saint-Amans, head of the OECD’s centre for tax policy, told AFP, “We’re happy to see this. There’s a place for everyone. The Fund can bring a real contribution on economic analyses”. In the corridors, however, a quiet skirmish is underway between the two organisations for the leadership of the tax-haven offensive ordered by the Group of 20 major economies. The IMF’s Copernican Revolution is still in the its early dawning stages. In its report, the IMF continued to push for a wider scope for value-added tax (VAT), a consumption tax that some say is inherently unfair, and on reductions in public spending. Oxfam’s Mombrial said, “These proposals are heading in the right direction, but a lot remains to be done”, calling notably for the IMF to do more against illegal capital flows which, according to the NGO, cost billions of dollars in fiscal revenues in developing countries.

12 October 2013

AFP

As quoted in Yahoo News

http://au.news.yahoo.com/thewest/a/-/breaking/19361021/tax-the-rich-imf-sparks-a-mini-revolution/

Editor’s Note:

Let’s keep it simple. The Republican Party nominated Willard Romney… a man with millions in offshore accounts in the Cayman Islands. That means that GOP SUPPORTS the rape of the economy by multinationals and their stashing their boodle in offshore accounts so that the government can’t tax it. They’re godless Mammon worshippers, and all those who vote for Republicans toss a pinch of incense on Mammon’s altar. That means that contemporary Republicans aren’t only greedy, they’re unpatriotic to the bone, as they support those who rip up the USA’s economy for their personal benefit. Such sorts wrap themselves up in the flag. It makes me sick. It’s time to make the rich pay up… the scandal of our kids leaving college thousands of dollars in debt just so that we can coddle the Affluent Effluent has to end.

Orthodox people should reflect that Paffhausen, Lyonyo, Potapov, Whiteford, Dreher, and Mattingly all support the Greedster Right. They aren’t your friends… they all throw their pinch of incense on Mammon’s altar (what would St Polycarp say to that?)… it does put their rants in a new light, doesn’t it?

BMD

Sunday, 13 January 2013

13 January 2013. Sergei Yolkin’s World. Depardieumania

00 Sergei Yolkin. Depardieumania. 2013

Depardieumania

Sergei Yolkin

2013

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Gérard Depardieu decided to move after new French President François Hollande introduced tax reforms that imposed a marginal tax rate of 75 percent on income over a million Euros (40.57 million Roubles. 1.34 million USD. 830,000 UK Pounds) a year. On 3 January 2013, Depardieu became a Russian citizen.

10 January 2013

Sergei Yolkin

RIA-Novosti

http://ria.ru/caricature/20130110/917564884.html

 

Sunday, 9 December 2012

9 December 2012. WARNING! Oh, the Humanity! Will the Rich Have Enough Money to Buy Politicians After the Coming Tax Increase?

01 fat cat

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I saw the following on Andy Borowitz:

Introducing a new wrinkle into the already-fraught fiscal cliff showdown, a consortium of billionaires today warned that if their taxes were raised, they’d no longer have enough money to buy politicians.

Here’s the REAL reason for the Republican reluctance to raise taxes on the Affluent Effluent. As the Grasping Olde Perverts are the main beneficiaries of the oligarchs’ largesse, they fear a crimping of their lavish lifestyles and wants. That’s why they oppose taxing the rich… every dollar that’ll go to taxes won’t go in their pockets.

None dare call it hypocrisy and evil…

BMD

Greece to Probe the Rich

money

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Greece’s Financial Crime Unit will check the income sources of 1,700 Greeks who suddenly became super-rich in the crisis years of 2010-11. Among them are ex-ministers, MPs, political party leaders, football players, doctors, and lawyers. Greek tax authorities have a special Elenxis system, which allows them to compare income, and taxes paid as well as reveal shadow accounts. The Crime Units will also check the assets of 54,000 Greeks who have transferred some 22 billion Euros (878.4 billion Roubles. 28.5 billion USD. 17.8 billion UK Pounds) to foreign banks since 2009.

3 December 2012

Voice of Russia World Service

http://english.ruvr.ru/2012_12_03/Greece-to-probe-the-rich/

Editor’s Note:

Orthodox people… let’s keep this short… Paffhausen, Potapov, Dreher, Mattingly, Reardon, Whiteford, et al just go into orgasm over the Republican defence of the Affluent Effluent. Reflect on that… it’s in direct opposition to Our Lord Christ. The Greeks are starting to chase down the affluent rapists of the economy of their country… we should do likewise, starting with Willard Romney and Darrell Issa… I wonder what the above-named individuals would think of that?

Any road, 22 billion Euros is only 2,000 Euros per Greek (80,000 Roubles. 2,600 USD. 1,600 UK Pounds), and it works out to only 40,750 Euros (1.63 million Roubles. 52,700 USD. 32,850 UK Pounds) per capita for the cohort under investigation… I think that the really big boys are swimming away scot-free, and that the Affluent Effluent controllers of the rightwing New Democracy government are trying to assuage popular anger by allowing it to pursue second-tier tax cheats. However, if SYRIZA wins the next election (and it shall), watch for the flights to London to be packed to the gills… they’ve all bought flats in Belgravia next to Berezovsky and Abramovich just for that eventuality, y’ know (they’re greedy and corrupt, but they’re not stupid)…

BMD

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