When You Can't Tax Enough, Just Steal The Whole Damn Thing!
The Market Ticker ® - Commentary on The Capital Markets
Posted 2010-09-20 12:29
by Karl Denninger
in Editorial
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When You Can't Tax Enough, Just Steal The Whole Damn Thing!
 

How much comment does this need?

Her Majesty's Revenue and Customs - the United Kingdom's version of the IRS - is proposing that all employers send employee paychecks to the government, which would deduct the amount it deemed appropriate and then forward it to the employee.

So what happens when the "deemed appropriate" amount is 100%? 

I find this amusing, and instructive.  It tells you exactly what government believes about who you actually work for and who owns your output.

Note that nations sell debt predicated on your willingness to submit to this crap, AND NO OTHER BASIS.

That is, the day you say "screw you!" to that sort of thing the government cannot sell one more bond - to anyone.

This little game over in the UK lays on the table what the truth of this matter is, and has been, for the last.... oh, since the 16th Amendment.

It has crept up on you a percent at a time, and yet here it is, and here it will be: Government has declared your labor THEIRS.

Wake up folks.

Discussion below (registration required to post)
 

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User Info When You Can't Tax Enough, Just Steal The Whole Damn Th in forum [Market-Ticker]
Silverdeth
Posts: 120
Incept: 2010-03-03


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How many indignities will the people of Britain stand by and take?

I guess this is what happens if you allow your government to disarm you :(

What I find most upsetting about the British Statists is that they are giving our statists over here ideas...
Dan721
Posts: 2776
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Phoenix, AZ
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Quote:
has declared your labor THEIRS.

....Just as it was when the Monarch had true power.....
Licorice
Posts: 1320
Incept: 2009-01-06

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The British need a written constitution and bill of rights, pronto.

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Print the money and give it to the people.
Glennb6
Posts: 481
Incept: 2009-03-02
Green
ne florida
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WOW. Soviet system implementation.
Bohemian
Posts: 9658
Incept: 2010-07-27
Gold
California
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There aren't enough cops in the UK to protect TBTB should this ever become reality.

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"The politicians are put there to give you the idea you have freedom of choice. You don't. You have no choice; you have owners. They own you. They own everything." - George Carlin
Ssg263
Posts: 392
Incept: 2009-01-07
Green
NY
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Fabianism = a way of tricking people into entering the slippery slope to communism

Mannfm11
Posts: 3551
Incept: 2009-02-28
Gold
DFW, Tx
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Slavery again. We have to defeat this debt system or we will all be in it. The British need to do what Iceland did, tell them to **** themselves. THERE IS NO MATHEMATICAL SOLUTION. The perceived money is nothing more than invented compound interest on what they started with 100 years ago. Everybody is going broke or we are headed for chatel slavery again. That is what the government controlling your check is. We are led to believe these guys take care of us, when in fact, they are nothing more than another organized crime scheme we are conned to pay a little into, increased little by little until they own more of us than we own of ourselves. I know the freedom date where the average American was done paying their taxes was in May a few years ago. It will soon be in July. Slavery in Egypt was defined as 20%. We are way past that. Debt needs to be liquidated on a high scale, the fat cats need to be forced to take their haircuts or in the case of the intermediaries, 100% losses. The government needs to reorganize.

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The only function of economic forecasting is to make astrology look respectable.---John Kenneth Galbraith
Lowbeyond
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Green A True American Patriot!
CO aka West NJ/East CA
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its not that much different then our IRS. So long as their is an income tax, the government controls 100% of your income, then they tell you how much you can keep after they skim off the top to pay for memorials to themselves

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Maybe it was a birdy bread-bomber from the future?!

Reason: may != pay
Docj
Posts: 999
Incept: 2009-09-10
Silver
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^^^ Well, that's a good point. Isn't it.

If you have "withholding" - as most corporations demand of their wage-slaves - then you already get to have Uncle Sugar's collections department skim off the top before you ever get to see Dime One of your earnings.

And by "you" I of course mean "we" as I, too, am a wage-slave.

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The preservation of liberty depends upon the intellectual and moral character of the people. As long as knowledge and virtue are diffused generally among the body of a nation it is impossible they should be enslaved. - John Adams
Cobra2411
Posts: 10349
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Philly P.a.
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Simple... Become self unemployed. Then barter your trades out. And get creative about it. I know someone who does concrete work that needs some iron work done at his mother's house. I have a friend that does sign work who needs concrete work... I have another friend that has a gun I want that needs some sign work...

Truth is that at this point they think we're their cattle. Truth is that there are way to few of them to matter once enough of us figure it out....

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To err is human. To really **** things up takes government.
Sean
Posts: 1766
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I know this has been said here already but WHO THE **** IS JOHN GALT?????

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* I think Ann Barnhardt is more and more right. God help us!
* Progressives / Marxists / Communists are many things, STUPID and IMPATIENT are not two of them.
* A hot civil war is coming.
* And people wonder why I prep!
Etz
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Obozo and democrupts just turned green with envy!
smiley

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Legal chicanery and beneficent darkness are the banker's stoutest allies - F.Pecora.

Gloomboomdoom
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The sooner we wake up and realize that democracy is a failed experiment in both Empire American and former Empire Britain...

The sooner we can return to the Constitutional form of government called a "Republic" which the founders knew, upon inception, would be difficult to preserve without reoccurring struggle and revolution!
Trades50
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No riots? The citizens in the UK must be brain-dead. Expect the same here with the IRAs and 401Ks?

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When the people fear the government, there is tyranny. When the government fears the people, there is liberty. - Thomas Jefferson
End_the_bubbles
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What happened to King Louis XVI and Marie Antoinette? (Yes, I know that was France, not the UK)....

smileysmiley

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In the long run even the most despotic governments with all their brutality and cruelty are no match for ideas. Eventually the ideology that has won the support of the majority will prevail and cut the ground from under the tyrant's feet and rise in rebellion to overthrow their masters.

Reason: heads off
Hihoherewego
Posts: 931
Incept: 2009-02-25

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Quote:
So what happens when the "deemed appropriate" amount is 100%?




Oh hell.

Since we (well ok, some of us work) already work 231 days for the Govy and 63.41% of income goes to same, what's an extra 134 days and 36.59% anyway?

........................

What's the big deal about a little debt among discordant friends?

http://www.usdebtclock.org/

Ssg263
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You have to understand: Most people under the age of 30 have been conditioned to believe that Bush is Evil and Obama, therefore, is good because he's from the other political party.

This alone is reason to give all your money to the government.
Mj71
Posts: 118
Incept: 2009-03-14
Silver
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The CEOs of ADP, Ceridian, etc. just shat themselves. This comes to bear here and those companies are gone.
Ostriches
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Not sure if it was originally posted here or at another blog, but I would occasionally run across the following statement that always got me thinking (and, please correct me if I am wrong):

"At what point between 0 and 100% do you become a slave?"
Onthemoney
Posts: 1
Incept: 2010-04-29

United Kingdom
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Do you folks think us Brits are nuts?

If this ever came into law (which it won't) you'd see riots that would make Greece look like a vicar's picnic.
Lenguado
Posts: 1272
Incept: 2010-01-12
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Orlando, FL
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Ostriches - whatever that point is,
Quote:
"At what point between 0 and 100% do you become a slave?"

We are already LONG PAST IT.....smiley

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I just realized... they aren't saying, "Keynesian Economics"
they're saying "Kenyansian Economics". Grass Huts for everyone!
smiley
Welcome to history’s first Double Dip Depression

Peterm99
Posts: 4993
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Onthemoney -

I sure hope you're right that the Brits would resist this.

Quite frankly, though, I'm astounded at how much crap you've already taken from your gov't (and the EU) without even a whimper of apparent protest/resistance. What makes you assert that this particular step would be the Rubicon for the Brits?

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". . . the Constitution has died, the economy welters in irreversible decline, we have perpetual war, all power lies in the hands of the executive, the police are supreme, and a surveillance beyond Orwell’s imaginings falls into place." - Fred Reed
Ostriches
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Agreed that we are WAY past it.
Lemonaid
Posts: 9879
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Metro Detroit
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Onthemoney, you folks ruled over a huge world-wide empire not too long ago.

It's time you all stood up, pulled the .gov dick out of your asses and raised hell !

.Gov and bankers will keep ****ing you in your ass until you're dead... they're sociopaths and don't give a god-damn about you... only what they can *get* from you.


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"There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as the result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved." Ludwig von Mises

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