Wealth Tax.
Fed Chair Jerome Powell has also made it clear that it is NOT the Fed’s job to fix this.
“We need to stabilize debt to GDP. The timing the doing that, the ways of doing it —through revenue, through spending — all of those things are not for the Fed to decide.”
Source: Yahoo! Finance
So… either the US Political Elite needs to spend less (not going to happen)or it needs to find access to new sources of capital… ours.
With that in mind, the current political agenda to push for Wealth Taxes, cash grabs and other means of raising capital all makes sense.
Consider the following:
- The IMF has already called for a wealth tax of 10% on NET WEALTH.
- More than one Presidential candidate for the 2020 US Presidential Race has already openly called for a wealth tax in the US.
- Polls suggest that the majority of Americans support a wealth tax.
And if you think this will stop with the super wealthy, you’re mistaken. You could tax 100% of the wealth of the top 1% and it would finance the US deficit for less than six months.
Which means…
Cash grabs, wealth taxes, and more will soon be coming to Main Street America.
