This is a warning to anyone with a significant savings or retirement accounts
Dear Friend, Now, I’m scared …
And if you, too, care about preserving your personal wealth, then a new report released this month by the International Monetary Fund (IMF) should leave you paralyzed with fear and desperate to find measures to counteract the attack that will soon take aim at your pocketbook.
In the 100-plus-page report dryly titled Fiscal Monitor: Taxing Times, the IMF has essentially given lawmakers from deeply indebted countries a paint-by-numbers kit on how to extract larger tax revenues from anyone with any level of wealth. Though the IMF’s language is couched in faux-objectivity, the underlying message is shockingly clear: Many developed nations, especially the United States, have abundant opportunities “to raise revenue from the top of the income distribution,” using a variety of methods including the direct confiscation of personal wealth.by