For all their efforts in the past decade to support direct bi-lateral trade and political autonomy between trading partners, on July 23 China’s finance minister put on a globalist hat and proposed to G20 ministers the need for a systematic international tax system to be used by all nations.
An international or ‘global tax’ has been the desire of Western elites for many years, and the groundwork for one was created by the IMF back in 2013.
G20 should play a leading role in improving the international tax governance and support the development of a new international tax system, China’s Finance Minister Lou Jiwei said Saturday.
Lou was speaking at a meeting of G20 finance ministers and central bank governors in Chengdu, capital city of southwestern China’s Sichuan Province.
G20 should continuously expand and deepen international tax coordination and cooperation, and support the development of a new international tax system which is fair, equal, inclusive and organized, according to Lou.
It is the first time for China to put forward the idea of “a new international tax system”. – en.people.cn
Global taxes are the necessary construct for bringing about a global government, where a small oligarchy of bureaucrats implement and control the economic decisions of individual nations. And we have already seen this in play in the European Union, where the tri-lateral partnership known as the Troika (European Commission, European Central Bank, and IMF) has administered taxation and austerity demands on EU member states when these countries seek financial support for aiding in their fiscal requirements for their debt obligations.
It is possible that China is proposing a systematic and singular international tax system to aid in the area of free trade, where countries currently use taxes, tariffs, and currency manipulation to gain better leverage in trade with other countries. However, there are very few examples in history where a benign system hasn’t been turned into a diabolical Damocles Sword over a people, just as in America where the original Income Tax went from affecting 1% of the earners to now taking more than 50% of the incomes of half the population.
Taxes are the antithesis of prosperity and free trade, and are the tools used by authoritarian governments to control their peoples. And today’s proposal for an international tax by China’s Finance Minister puts the growing power in a much different light following six years of apparent economic reform.
Kenneth Schortgen Jr is a writer for Secretsofthefed.com,Roguemoney.net, and To the Death Media, and hosts the popular web blog, The Daily Economist. Ken can also be heard Wednesday afternoons giving an weekly economic report on the Angel Clark radio show.