Howestreet.com - the source for market opinions

ALWAYS CONSULT YOUR INVESTMENT PROFESSIONAL BEFORE MAKING ANY INVESTMENT DECISION

January 20, 2023 | The Coming Wealth Tax – Pocahontas’ Dream Come True

Martin Armstrong

Martin Arthur Armstrong is the former chairman of Princeton Economics International Ltd. He is best known for his economic predictions based on the Economic Confidence Model, which he developed.

Elizabeth Warren’s Wealth Tax is now moving forward in the leftmost Democratic States – California, Connecticut, Hawaii, Illinois, Maryland, New York, and Washington state. Naturally, Pennsylvania, Delaware, and New Jersey are paying very close attention as they lick their lips at the thought of untold billions in new revenue to cover faltering government employee pension plans caused by artificially low interest rates. Even federally, the US has bumped its head on the debt ceiling. Without question, the ceiling will have to be raised again but with a lot of pomp and circumstance and perhaps a few fistfights on the floor. Yet the primary dealers cannot handle all the debt pouring out and there is a declining appetite for anything long-term as the Bide Administration wages direct proxy war against Russia until the last Ukrainian falls on the battlefield and NATO troops then revenge their deaths.

Socialism is collapsing and governments will fight to their last breath until the politicians are dragged out and hung on the streets as is typical in such cases of economic malfeasance. What is emerging at the state level is simply versions of Warren’s Wealth Tax which will be applied to WORLDWIDE assets. The hated rich policies, who have provided all the jobs over the centuries by creating industries, are to be stripped mined.

SELL YOUR HOUSE WHILE YOU STILL CAN AND MIGRATE NOW!

Once these Wealth Taxes enter the game in 2024, that will be the peak of the ECM and only a braindead person would want to buy your house in those states! The Year 2024 will be the Decline and Fall and you better pay heed to what is unfolding on this level. The Wealth Tax will be a permanent property tax you will pay even when you are losing money. It will NOT recognize a decline in the value of assets until they are sold.

STAY INFORMED! Receive our Weekly Recap of thought provoking articles, podcasts, and radio delivered to your inbox for FREE! Sign up here for the HoweStreet.com Weekly Recap.

January 20th, 2023

Posted In: Armstrong Economics

Post a Comment:

Your email address will not be published. Required fields are marked *

All Comments are moderated before appearing on the site

*
*

This site uses Akismet to reduce spam. Learn how your comment data is processed.