Is the IMF about Ready to Muscle U.S. Taxpayers?

Robert Wenzel Economic Policy Journal July 9, 2010

I smell a rat.

The IMF has long been a bought, and paid for, muscle arm of the U.S. government and the banking elite.

The play goes like this. Banks loan money to third world countries that have no chance in hell of paying the money back. The IMF comes in with “austerity” programs that include heavy new tax burdens on the working class. The revenue from the new taxes will, of course, go to payoff the banking elite. It’s a sick game, but the elite seem to get their jollies by pulling this scam in country after country.

It appears the elite appear to want to up the ante. It appears they are getting set to turn the guns inward and go after the hard earned money of Americans.

WaPo  reports:

The United States recently opened itself to the most intense scrutiny yet by the International Monetary Fund, and on Thursday was offered a bitter pill when the agency criticized some well-defended aspects of American culture — cheap fuel, subsidized housing, and a government retirement check.

In a broad call for U.S. financial prudence, the agency also said the Obama administration was overestimating U.S. economic growth and needed to trim government deficits by hundreds of billions of additional dollars if its announced budget targets are to be met.

The U.S. opened itself up to “intense scrutiny” by the IMF? This is like David Rockefeller opening himself up to intense scrutiny by his chauffeur.

The IMF is a bought and paid for U.S. operation. There is no “scrutiny” unless the U.S. government wants it as cover. Cover for what? Here’s more from the WaPo report:

Cut Social Security. Ditch the deduction for interest on home mortgages. Tax gasoline…

The recovery is going reasonably well in the United States, the IMF said, but some of the tougher decisions remain to keep it on track.

“The risks are tilted to the downside,” David Robinson, deputy director of the IMF’s Western Hemisphere department, said as he presented both the IMF’s annual assessment of the U.S. economy and its first-ever review of the country’s financial sector….

…the agency argues that the United States needs to move more aggressively to both cut spending and raise revenue, to the tune of $350 billion or more above what the administration now plans…

Allowing homeowners to deduct their mortgage interest payments from their income taxes, for example, is a staple of U.S. housing policy, considered a way to make homeownership more affordable. The IMF came out harshly against the deduction, saying that it was part of a homeownership system that was “costly, inefficient and complex,” did not demonstrably increase ownership rates compared with similar countries without the same tax incentives, and mostly benefited “the better-off.”

Not good. It appears there is a serious play in motion, by the elite, to tax the hell out of Americans. The IMF is obviously the front muscle organization that is going to lead the charge. Once the mid-term elections are over, American tax payers are going to be muscled, the way the IMF now muscles third world peasants.

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