(CNSNews.com) - The federal government took in a record of approximately $3,248,723,000,000 in taxes in fiscal 2015 (which ended on Sept. 30), according to the Monthly Treasury Statement released today.
That equaled approximately $21,833 for every person in the country who had either a full-time or part-time job in September.
The world will soon be facing a tsunami of defaults on bad debts. This will include municipal or local government defaults such as the one now occurring in Stockton California, governments “defaulting” on promises they’ve made to the people (Social Security, Medicaid), a default on the social contract between society and politicians such as the one in Cyprus (a default on the notions of private property and Democracy), stealth defaults on debts in the form of inflation and finally, of course, outright sovereign defaults.
However, the last option will be sovereign defaults; all other options will be tried first. The reason for this is that sovereign bonds are the senior most collateral posted by the banks for their hundreds of trillions of Dollars worth of derivatives bets.
The minute an actual sovereign default occurs in Europe, Asia or the US, then the large global banks will all be vaporized. End of story. As is now clear, the Central banks do not care about ordinary citizens. They only care about propping up the big banks.
This is why Cyprus decided to default on the social contract with its people and steal their funds rather than simply instigating a formal default. And it’s why in general we’re going to see Governments implementing more and more theft in the form of “taxes” (Cyprus called its theft a tax) in the future.
This will be sold to the public as either an attempt to tax those with a lot of money because it’s only fair that they put in more to bailout the nation OR as a form of financial terrorism e.g. “either you take a 7% cut on your deposits and the bank stays afloat or the bank crashes and you lose everything.”
This will be spreading throughout the world, GUARANTEED.
Spain, Canada (which allegedly has the safest banks in the world), and New Zealand have already begun discussing confiscation schemes for depositors in the event of a banking crisis.
As Cyprus has shown us, when push comes to shove, rule of law goes out the window. I fully expect that when things get really bad in the financial system the money grabs will come fast and furious. Foreign accounts, including possibly even Gold held aboard, will come under attack. Heck, the US got Switzerland to throw its 300-year-old banking secrecy out the window…
(KGW.com) Taxing the air we breathe may be coming to Washington state. Yes, the insane taxing of every behavior is rising to a whole new level with the proposed “bike tax” in Washington.
According to lawmakers who proposed the bike tax, it would help raise $1 million over the next decade to be used for road maintenance. The new $25 tax will be applied on every bike sold for over $500 in the state.
One Washington lawmaker is making twisted argument in support of the new fee. Rep. Ed Orcutt wrote in an email to a bike shop that the CO2 that bicyclists exhale while riding is just one of the reasons he supports the bike tax.
“Since CO2 is deemed a greenhouse gas and a pollutant, bicyclists are actually polluting when they ride,” Orcutt wrote. Therefore, they should pay taxes to help the environment as well as the roads.
Here is his full email:
