Armstrong Economics Blog/The Hunt for Taxes
Re-Posted Sep 19, 2017 by Martin Armstrong
QUESTION: Hi Martin,
Firstly I appreciate your insight into world events. I don’t see anyone else coming even close to what you do.
In New Zealand we are facing an election and taxation is a big topic. Labour on the left has appointed a new, young, female leader who has wide appeal. She is hedging on Labour’s taxation policy but it’s known they favour capital gains taxes – business, property, inheritance, you name it. I saw an article that Illinois is experiencing massive flight of wealth due to taxes. Will people run out of options for places to go or is the world in general headed towards mass taxation?
Thanks for your time.
ANSWER: Yes, Jacinda Ardern is a desperate attempt to raise Marxism to its former glory. The Labour Party fell to below 30% in the polls so they put a young girl up front to gain votes. It is also true that Illinois is a complete disaster. I wrote about how they should just dissolve the state because they cannot even go bankrupt on their government pensions. It is true that every five minutes someone leaves Illinois. The most recent poll revealed that 47% of people in Illinois wanted to leave the state. Property values will collapse in Illinois because there is a mass exodus and no buyers unless they are oblivious to what is taking place. This is how Rome fell from a population of 1 million to 15,000. People just walked away from their property.
Marxism has destroyed the world economy and caused the deaths of countless millions of people all for a theory that has never worked. We are facing the darkest hours in this collapse of socialism. Make no mistake, there are plenty of people who have been brainwashed to believe it is the rich causing this rather than the greed of politicians. It is the government pensions in Illinois that has destroyed the State. They prefer to say the rich do not pay their fair share but government always needs more and more. So that “share” never ends until it reaches 100%.
This will come to a head most likely in violence and it is highly likely it will erupt in civil unrest and even war over the course of the next few years. Unfortunately, this is the Crash & Burn. It is just not sustainable. Economic growth declines and the standard of living for everyone collapses. It is just how we give birth to the next era.