Reply To: The IMF Proposes A 10% Supertax On All Eurozone Household Savings

[rapier]

The thing which pops into my mind is that savings in bank deposits and maybe money market accounts are minuscule in the big picture.

To really tax ‘savings’ one would have to tax assets, presumably on some mark to market basis. Well why even think about such things, it’s impossible. Impossible functionally to do and politically impossible to even enact . One can suppose taxing cash equivalent savings might be doable but I doubt it would add up to all that much. Not enough to be a game changer to reset the system.

It’s all rather sad really. Them having to go down this rabbit hole. A rabbit hole with a dead end.