Alexandria Ocasio-Cortez (AOC) attacked corporate politics, influence, and greed. She echoed Warren Buffett who recently told shareholders that if a bank needs a government bail-out, the responsible CEO and his or her spouse should lose their net worth. Interesting comment on Buffett’s part when he lent $5 billion to Goldman Sachs to prevent their bankruptcy during the 2008-2009 crash. It seems Buffett does not practice what he preaches

QUESTION: Martin – Just read your latest on Lewrockwell.com, regarding taxation. I think the most basic, simplistic explanation you can put forward about income taxation, now in 2019, is that governments are taking directly out of our paychecks, while at the same time, printing money like deranged lunatics. Why tax my labor income if you (the government / CB’s) can just print as much fiat as they need? What do they need to dip into my paycheck for 30% before the money even hits my bank account, when they can just print what they need. Maybe it is because of their greed and lack of morality know no bounds. We are being ruled by tyrannical, Marxist inspired lunatics.
CN

ANSWER: That is my point. When money was precious metals, then taxation made sense. However, most taxes are initially implemented with such modest amounts like 2% for the first income tax in Britain back in 1799. People accept such modest levels. Even the American Revolution was fought over a tax of about 7%. Today, under the influence of Marx, taxes have risen to insane levels. A woman may have fought for the right to work with the Suffrage Movement, but today, it now takes two incomes to support a family because of the levels of taxation. The burden of direct taxation is seriously reducing our standard of living.

Taxes should be fixed because they can raise taxes at will. This is why you also have lobbyists who then fund their campaigns for loophole

In Berne, Switzerland, there has been a redistribution in occupational pensions which has revealed that it too is not a funded pensions plan as people previously assumed. For at least twelve years, pension fund monies have flowed from the employed to the pensioners. The amount has reached a tremendous scale with funds in the order of more than 90 billion francs being redistributed during these years. This is the result of data collected by PPC Metrics, the pension advisor for the SonntagsZeitung.

The AHV pension scheme is heavily redistributed in the pay-as-you-go system, but the occupational pension schemes should have been fully funded. With low-interest rates, the presumed fully funded occupational pension plan is now also operating as a Ponzi scheme. The prospect of future payments has been called into question

UBS will charge a 2 franc fee for withdrawing cash at the bank counter beginning in July, be it a withdrawal in CHF from a UBS private account or from a UBS current account. Thus, UBS stands (at least for now) pretty much alone. A survey of various institutions revealed that hardly any banks charge cash for cash withdrawals at the counter. One of the few exceptions is the Zürcher Kantonalbank (ZKB). Exceptions to this rule are customers with a private or savings account of the “ZKB inclusive base” package. These customers pay 5 francs for payments at the counter in francs or foreign currencies. However, industry observers expect other banks to follow UBS’s example soon, given the pressure on earnings.