One of the incredible things that allows nations and American states to prosper economically is tax competition. It's no secret that low tax US states have stronger economies than high tax states. Similarly, low tax nations have much stronger economies than high tax nations. The NWO, the G7 and all the global bureaucrats have been attacking tax competition for years. They want to impose fixed tax rates everywhere, something they call tax harmonization which translates to all nations agreeing to being equally poor, impoverished and economically impotent.
While tax harmonization has been a goal, the global elites are now in an absolute panic because as economies go bust, folks are energizing their survival instincts and going underground. The underground barter/trade/cash economy is beyond the tax collectors reach and it has been estimated that up to 50% of all Greek economic output is underground. Underground economies are rapidly growing in other nations like Spain. Many bureaucrats are even suggesting that all physical paper money be outlawed and that the only allowable money should be traceable electronic bank money. As statism enters its final death spiral, governments everywhere will be in 100% confiscation mode. Nobody's wealth or savings will be safe as evidence by the grand theft in Cyprus.
The G7 is in such a panic that it focused its recent meeting on 'collective' tax collection. The BBC reports, here:
The G7 summit was an important stepping stone towards a global new standard on tax.
That goal is fiendishly complex and to help achieve it a number of countries have agreed to share information on suspected law breaking in both areas of tax law.Translation of government speak: 'Fiendishly complex' is a code word that means that whatever rules/laws are passed they will be so unclear and incomprehensible that cooperating governments will have the raw and absolute power to just seize whatever they want and without due process.
The G7 group of industrialised nations have agreed that there must be collective action against tax evasion and avoidance, the UK's finance minister has said.Translation of government speak: There can be no place on planet earth where folks with money can hide and be exempt from the confiscating arm of government. Government must be fed at all costs and plunder is the weapon. Collectivization of all wealth will be complete and arbitrary.
"We must put regimes in place... to deal with failing banks and to protect taxpayers and to do so in a globally-consistent manner," he said.Translation of government speak: The Banksters must be protected, bailed out at all cost and the taxpayers and economy be damned.
Britain wants the rest of the EU - including very low tax countries such as Luxembourg and Austria - to sign up to this pilot scheme at next Tuesday's Ecofin in Brussels.Translation of government speak: Those nations that don't comply will be punished and face the wrath of the globalists, governments, banksters and possibly even militaries.
Anyway, the above BBC quotes are just a few highlights from the G7 confab and its ruling elites. Governments are like voracious beasts that need constant feeding. Underground economies starve the beast and the beast isn't about to just lay down and die. While it's still standing, it will devour everything in its insatiable path.