Pope Francis Calls for Global Wealth Redistribution Except For The Rich Vatican.

Bankers’ best guesses about the Vatican’s wealth put it at $10 billion to $15 billion. Of this wealth, Italian stockholdings alone run to $1.6 billion, 15% of the value of listed shares on the Italian market. The Vatican has big investments in banking, insurance, chemicals, steel, construction, real estate.

Tax cuts for the wealthy constitute a “structure of sin,” Pope Francis said Wednesday in a passionate address calling for international wealth redistribution.

“Every year hundreds of billions of dollars, which should be paid in taxes to fund health care and education, accumulate in tax haven accounts,” the pontiff told participants in a Vatican seminar, “thus impeding the possibility of the dignified and sustained development of all social agents.”

“Today’s structures of sin include repeated tax cuts for the richest people, often justified in the name of investment and development,” Francis told the meeting organized by the Pontifical Academy for Social Sciences.

During his discourse, the pope repeated his conviction that poverty is on the rise worldwide and “the poor increase around us.” Never-the-less the Pope intends to hang onto the riches of the Vatican including the billions and billions of dollars worth of incredible works of art inside the Vatican Museum which could eliminate poverty if only about 5% of it is sold. Francis is speaking from a mis-directed playbook.

In free market economies that favor wealth creation such as the United States, “extreme poverty” has virtually been eradicated.

For example, in 2005, 78.3 percent of households living in “poverty” (by U.S. standards) had air conditioning, whereas in 1970, 36.0 percent of all households had air conditioning. The Pope is far behind the knowledge curve about poverty…. Or they know and are keeping it a secret to keep up their swindle.

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