Let’s Talk About Portugal’s CURRENT Fiscal Policies: Portugal’s Prime Minister Antonio Costa hints at Ending The Non-Habitual Residency (NHR) Tax Scheme To Attract Capital – October 9, 2023
When people ask, why is the U.S. dollar the world’s reserve currency, I respond, because if the FISCAL policies in most nations in the world. Socialism is DEFINITELY not dead in Europe, via the current fiat monetary system that revolves around U.S. dollar circulation expanding, nations like Portugal, which use the Euro, are the beneficiaries of the U.S. dollar being the Gold Standard of currency.
Now, if you’re saying this makes absolutely no sense because the European Union has provisions in place that limit the money printing, you’d be PARTIALLY correct because this lack of expansion in the Euro does allow consumer price inflation to expand at a more controlled pace, but it also creates a consumer DEFLATIONARY problem in Europe as European consumers are PUNISHED for consumption.
This equates to governments like Portugal having tax collection problems, which is why The Non-Habitual Residency (NHR) was created in the first place to attract CAPITAL.
Now, I’ll be honest: I don’t know much about the MUNICIPAL tax arrangements in Portugal, but typically, it’s local governments that create the housing and commercial real estate problems, as local government elected officials often at the request of the voters, will enact laws to attract more revenue for their local governments, and typically municipal politics is an indication of how the National elections will unfold.
The United States differs from most countries in that it does not have transfer payment arrangements built into its constitution, which is why people who wish to use the Federal Government to EXTRACT wealth and resources from the “rich” or the most productive members of the society, have a harder time influencing the entire population to move into a socialist direction.
Socialism often clouds itself as “nationalism,” so extracting wealth from the “rich” in most countries becomes part of the “nation’s pride.” Long story short, Portugal’s welfare State is running out of money, and ofcourse, the wealthy foreigners are going to be targeted.
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Any nation with a rich communist or socialist history will go through a phase of “Late Stage Capitalism.” The countries broke, and nobody wants to blame fiscal policies because they’re the beneficiaries of the welfare state, so they target a minority. This is why Jews and Chinese people are often the targets of racism, because for whatever reason, collectively, Jews and the Chinese know how to position themselves where the “money is going” regardless of the capitalist, socialist, or communist government in existence.
Racism is a rather silly concept, but it’s the result of people with low FINANCIAL IQs imagining that unpromoted hard work won’t result in wealth. Jews and Chinese people tend to be very hard-working people, but they don’t BRAG about it, and often don’t flaunt it.
I say this to those of you who have accumulated wealth and put the necessary capital to be the beneficiaries of the NHR program to not be surprised if you become the target of hatred from some sections of the Portuguese voting public.
The current Prime Minister of Portugal António Costa is a socialist; his party is literally called the “Socialist Party,” and with socialism, the idea will always be to PHASE OUT capitalism, which is where “Late Stage Capitalism” comes from, the issue is that in the modern era Socialism in practice, especially in the digital era is ALREADY DEAD.
The only thing keeping socialism afloat is the fiat monetary system that’s headed for destruction. Especially now, with the amount of global transactions happening per second, a government micromanaging that or even trying to direct the flow of capital has already proven to be a huge mistake.
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One of the reasons the U.S. dollar continues to dominate is because of the more lax rules surrounding the U.S. dollar; there are fewer politics involved in the U.S. dollar than, say in the Euro, so whenever I hear people claiming that a central bank digital currency(CBDCs) will replace the paper money, “I says to myself I says”, do people not comprehend that CBDCs are POLITICAL money, which inherently equates to BUREAUCRACY.
I don’t like how you think so I am banning you from the CBDC system. What censoring or banning people from using money does is that it prevents INNOVATION, which, for the record, is the only reason price controls, like the minimum wage, haven’t destroyed the current economic system.
A lot of UNNECESSARY automation exists because of the minimum wage laws, and in case you’re not paying attention, a lot of labor unions are targeting laws that will make it harder for companies to innovate. So all of these FISCAL policies in Portugal and a lot of other countries are pushing us closer to a DEPRESSION, but with socialists, everything is ideological, so don’t be surprised when they shoot themselves in the foot and blame you and your CAPITAL for it.
Interesting times ahead!