Tag Archives: taxes

There is No Upper Limit on Taxation

15 Friday Nov 2019

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Another potential gift of the 16th Amendment. Squaw Warren’s tax plan is technically, legally possible.

Democratic presidential candidate Elizabeth Warren has unveiled sweeping tax proposals that would push federal tax rates on some billionaires and multimillionaires above 100%.

That prospect raises questions for taxpayers and the broader economy that experts are starting to ponder: Under which circumstances would taxpayers have to pay those rates? How might that change their behavior? And would investment and economic growth suffer?

Potential tax rates over 100% could result from the combination of tax increases the Massachusetts senator proposes for the very top tier of investors. She wants to return the top income-tax rate to 39.6% from 37%, impose a new 14.8% tax for Social Security, add an annual tax of up to 6% on accumulated wealth and require rich investors to pay capital-gains taxes at the same rates as other income even if they don’t sell their assets.

Consider a billionaire with a $1,000 investment who earns a 6% return, or $60, received as a capital gain, dividend or interest. If all of Ms. Warren’s taxes are implemented, he could owe 58.2% of that, or $35 in federal tax. Plus, his entire investment would incur a 6% wealth tax, i.e., at least $60. The result: taxes as high as $95 on income of $60 for a combined tax rate of 158%.

One of the lies told to sell the Sixteenth was that the highest rate would never come close to 10%. My weak math skills suggest that 158 is greater than 10. This may be TPC’s topic for next week. For now, I think I am actually in favor of this scheme of theft and slavery. But maybe that’s just the accelerationist in me. Tick. Tick. Tick.

UPDATE: When reading the WSJ article about Squaw, note the names of the policy-makers and backers.

Why is “raise taxes” always the go-to?

06 Wednesday Nov 2019

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Another Boomer reads from the worn, old script.

Dalio, who founded the hedge fund in 1975, told CNBC from the Greenwich Economic Forum that the national debt, pension liabilities and health-care liabilities will ultimately have to result in higher taxes since defaulting isn’t an option.

“We’re dealing with almost a currency issue, longer term, in terms of what is the value of currency when those liabilities – not only the debt liabilities, but the pension liabilities and the health-care liabilities, which are like debt. They are promises that have to be paid – they will either be paid by higher taxes or they’ll be not paid and defaulted on,” he said.

“I don’t think they will be defaulted on,” he added. “I think by and large they’re going to be paid, but if they raise taxes too much, then it changes the nature of that economics.”

Category error. It’s not “almost a currency issue.” It’s not economics. It’s sorcery. Including everything that could be a liability, there isn’t enough wealth left to tax. Default is a given. The choice is to do it peaceably and gracefully or to suffer collapse and war. And, war is the default condition.

Now In Those Days A Decree Went Out…

10 Wednesday Jul 2019

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The Dems 2020 Nominee for President (my guess), Elizabeth “Pocahontas” Warren plans to steal the remaining value left in the economy.

The tax-and-spenders of the world are desperate to find new ways to pay for the crumbling welfare states of western democracies. And they’re targeting the “rich” to do it.

Senator Elizabeth Warren (D-Massachusetts), a 2020 presidential candidate, has proposed a 2% annual tax on assets of households with a net worth of $50 million or more. The tax would increase to 3% for billionaires.

Warren’s policy team estimates the wealth tax would raise an astonishing $2.75 trillion over the next decade. She suggests the tax would be a good way to start paying for proposals such as “Medicare for All.”

Some of the wealthiest people in the world support the idea. A public letter signed by George Soros, Facebook co-founder Chris Hughes, and the daughter of billionaire Charlie Munger calls for a wealth tax to “help address the climate crisis, improve the economy, improve health outcomes, fairly create opportunity, and strengthen our democratic freedoms.”

Note the comparisons to FR and CH. But, also understand, the same lies (with nearly the same numbers) are being pushed here, as were used to foist the Sixteenth Amendment in 1913. You know, only the very richest will may, but only 2%. A few decades later, everyone was paying and the 2% grew to 90%. Maybe another reason they don’t teach history or economics now.

Caesar Gets Zilch

13 Monday May 2019

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Sayeth the Lord. Jeffery Barr explains away any confusion about what Jesus said to the Rabbinate in re allegiance (and taxes).

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The Catholic Church considers Herself the authoritative interpreter of Sacred Scripture. The 1994 Catechism of the Catholic Church “is a statement of the Church’s faith and of catholic doctrine, attested to or illumined by Sacred Scripture, the Apostolic Tradition, and the Church’s Magisterium.”

The 1994 Catechism instructs the faithful that it is morally obligatory to pay one’s taxes for the common good. (What the definition of the “common good” is may be left for a different debate.) The 1994 Catechism also quotes and cites the Tribute Episode. But the 1994 Catechism does NOT use the Tribute Episode to support the proposition that it is morally obligatory to pay taxes. Instead, the 1994 Catechism refers the Tribute Episode only to justify acts of civil disobedience. It quotes St. Matthew’s version to teach that a Christian must refuse to obey political authority when that political authority makes a demand contrary to the demands of the moral order, the fundamental rights of persons, or the teachings of the Gospel. Similarly, the 1994 Catechism also cites to St. Mark’s version to instruct that a person “should not submit his personal freedom in an absolute manner to any earthly power, but only to God the Father and the Lord Jesus Christ: Caesar is not u2018the Lord.‘” Thus, according to the 1994 Catechism, the Tribute Episode stands for the proposition that a Christian owes his allegiance to God and to the things of God alone. If the Tribute Episode unequivocally supported the proposition that it is morally obligatory to pay taxes, the 1994 Catechism would not hesitate to cite to it for that position. That the 1994 Catechism does not interpret the Tribute Episode as a justification for the payment of taxes suggests that such an interpretation is not an authoritative reading of the passage. In short, even the Catholic Church does not understand the Tribute Episode to mean that Jesus endorsed paying Caesar’s taxes.

V. CONCLUSION

St. John’s Gospel recounts the scene of a woman caught in adultery, brought before Jesus by the Pharisees so that they might “test” Him “so that they could have some charge to bring against Him.” When asked, “u2018Teacher, this woman was caught in the very act of committing adultery. Now in the law, Moses commanded us to stone such women. So what do you say,’” Jesus appears trapped by only two answers: the strict, legally-correct answer of the Pharisees, or the mercifully-right, morally-correct, but technically-illegal answer undermining Jesus’ authority as a Rabbi. Notably, Jesus never does overtly respond to the question posed to Him; instead of answering, “Jesus bent down and began to write on the ground with his finger.” When pressed by His inquisitors, He finally answers, “u2018Let the one among you who is without sin be the first to throw a stone at her,’” and, of course, the shamed Pharisees all leave one by one. Jesus then refuses to condemn the woman.

The scene of the woman caught in adultery and the Tribute Episode are similar. In both, Jesus is faced with a hostile question challenging His credibility as a Rabbi. In each, the hostile question has two answers: one answer which the audience knows is morally correct, but politically incorrect, and the other answer which the audience knows is wrong, but politically correct. In the scene of the woman caught in adultery, no one roots for Jesus to say, “Stone her!” Everyone wants to see Jesus extend the woman mercy. Likewise, in the Tribute Episode, no one hopes Jesus answers, “Pay tribute to the pagan, Roman oppressors!” The Tribute Episode, like the scene of the woman caught in adultery, has a “right” answer – it is not licit to pay the tribute. But Jesus cannot give this “right” answer without running afoul of the Roman government. Instead, in both Gospel accounts, Jesus gives a quick-witted, but ultimately ambiguous, response which exposes the hypocrisy of His interrogators rather than overtly answers the underlying question posed by them. Nevertheless, in each instance, the audience can infer the right answer embedded in Jesus’ response.

Read the whole thing and what brought him to this sound, extraordinarily well-researched conclusion. Taxation is more than theft, it’s slavery. Show me the money!

Taxing Matters: Ranking the States

06 Wednesday Mar 2019

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From first to worst, or visa versa. Some are exactly what you’d expect. Others aren’t what one might imagine. All forms of taxes are equalized or adjusted as an equivalent of income.

50. Alaska
• Taxes paid as percentage of income: 6.5 percent
• Income per capita: $57,179 (10th highest)
• Income tax collections per capita: $0 (tied – the lowest)
• Property tax collections per capita: $2,001 (11th highest)
• General sales tax collections per capita: $0 (tied – the lowest)

49. South Dakota
• Taxes paid as percentage of income: 7.1 percent
• Income per capita: $48,818 (23rd highest)
• Income tax collections per capita: $0 (tied – the lowest)
• Property tax collections per capita: $1,381 (24th lowest)
• General sales tax collections per capita: $1,124 (6th highest)

48. Wyoming
• Taxes paid as percentage of income: 7.1 percent
• Income per capita: $57,346 (9th highest)
• Income tax collections per capita: $0 (tied – the lowest)
• Property tax collections per capita: $2,347 (6th highest)
• General sales tax collections per capita: $1,097 (11th highest)

A guide if you’re considering a move.

Les Taxes En Font Partie

02 Sunday Dec 2018

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But, just a part, the spark maybe. The war raging in the streets in France is the product of popular anger over many things. Chief among them is the early tenure of the bankster batman and Oedipus Rex weirdo, Emmanuel Macron.

Macron, in Argentina for a G20 summit, said he would convene ministers to discuss the crisis upon his return on Sunday. Prime Minister Edouard Philippe cancelled a trip to Poland.

“We are in a state of insurrection, I’ve never seen anything like it,” said Jeanne d’Hauteserre, the mayor of Paris’ 8th district, near the Arc de Triomphe.

The popular rebellion erupted out of nowhere on Nov. 17 and has spread quickly via social media, with protesters blocking roads across France and impeding access to shopping malls, factories and some fuel depots.

On Saturday, some targeted the Arc de Triomphe, chanting “Macron Resign” and scrawling on the facade of the towering 19th-century arch: “The yellow vests will triumph.”

Addressing a news conference in Buenos Aires, Macron said no cause justified the looting of stores, attacks on the security forces or torching of property. The violence, he said, had nothing to do with the peaceful expression of legitimate grievances.

“I will always respect differences. I will always listen to opposition, but I will never accept violence,” Macron said.

Protesters smashed the windows of a newly opened flagship Apple Store and luxury boutiques of Chanel and Dior, where they daubed the slogan “Merry Mayhem” on a wooden board.

Close to the Place Vendome, Christmas trees decorating the streets were upended, piled in the middle of an avenue and set ablaze, prompting chanting from scores of protesters.

Order appeared to have been restored late in the evening, although small groups were still at odds with police near the Champs Elysees.

Authorities said violent far-right and far-left groups had infiltrated the yellow vests movement. Interior Minister Christophe Castaner said most of those arrested were regular protesters who had been egged on by the fringe groups.

The protests began as a backlash against Macron’s fuel tax hikes, but have tapped into a vein of deep dissatisfaction felt towards the 40-year-old’s economic reforms, which many voters feel favour the wealthy and big business.

Yeah. Someone mentioned something about those “reforms” around the last election: “Maybe once a Rothschild servant isn’t always.” Maybe it is.

The good news is that, in the face of this leaderless uprising of the real French people, Oedipus sits at what? a 20% approval rating. There’s mild hope he could depart early. Hope for the future.

Vous auriez voté Le Pen.

macroncuck

Oedipus with some nouveau French supporters.

About That Coming Election

26 Friday Oct 2018

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It’s pointless. If you vote, then know that no matter how you vote, nothing will change. It. Is. Over.

Here’s a Halloween story to have you screaming like Jamie Lee Curtis. We’ve reached the terminal tipping point. It’s one we’ve been waiting for a while now and finally, it’s here. More Americans now collect “benefits” than pay taxes. Over. Done.

I double checked the numbers and it’s true – 167 million taking, with over 121 million paying. The only question is how this affects voters. One can safely assume that now the majority of those who cast ballots will continue to do so to keep the gravy coming.

So ends the Grand Experiment.

Kind of the subject of today’s TPC bit:

Perrin’s Big Ole Big, Bad, Lean, Mean, Patriotic, Red, White, and Blue Election 2018 ‘Voting’ Recommendations Extravaganza and Illustrated Picture Show!!!

Read that and then get busy making better use of your time.

Read This

16 Monday Apr 2018

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Happy Tax Day Eve!

As you prepare to make those last minute payments to Mordor, please consider what the money, some of it, is spent on:

Caught in a Lie, US & Allies Bomb Syria the Night Before International Inspectors Arrive

On April 12, even US Secretary of Defense James Mattis told the House Armed Services Committee that the US government does not have any evidence that sarin or chlorine was used, that he was still looking for evidence.

Syria, finding the claims to be lies and the sources tainted, requested that the Organisation for the Prohibition of Chemical Weapons (OPCW) immediately come to Syria to investigate the claims. Accordingly, the OPCW agreed to send a team—the visas for which Syria granted immediately—which arrived in Damascus on April 14.

President Trump, instead of waiting for an investigation to confirm his ‘evidence,’ chose the very night before this investigative team would arrive in Syria to inspect the allegations, to bomb Syria. The timing of the attacks is more than just a little timely. And the bombings were illegal.

This is the same OPCW that lately took the Russian chemical out of the alleged Russian chemical poison attack in London.

Ah, heck with “facts.”

Quick recap: Assad used Tower 7 yellow cake, in a surprise attack, to sink the Maine in the Gulf of Tonkin, in violation of unarmed neutrality (NO weapons on board), necessitating income tax withholding only until the Taliban are defeated at Charleston Harbor. That’s the truth! Your taxes: pay them.

A Little Something for Everyone

22 Friday Dec 2017

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‘Tis the Season. Everyone loves something in the old stocking. Today everyone won.

President Trump signed two Bills into law before jetting off to FloridaLand.

The first under pen was the recently passed tax cut package. This allows people who work to actually keep a little more of the money they earn. Crazy concept, right?

The second Resolution provides funding for normal Imperial operations until the middle of next month. State worshipers gotta love that.

4786465900000578-5206311-image-a-59_1513963912223

AP

Happy Friday to all!

Congress Passes Decade of Tax Cuts

20 Wednesday Dec 2017

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Let’s remind them to renew in 2027 (if they haven’t cut even deeper in the interim).

Starting next year, families making between $50,000 and $75,000 will get average tax cuts of $890, according to an analysis by the nonpartisan Tax Policy Center. Families making between $100,000 and $200,000 would get average tax cuts of $2,260, while families making more than $1 million would get average tax cuts of nearly $70,000, according to the analysis.

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The $1,000-per-child tax credit doubles to $2,000, with up to $1,400 available in IRS refunds for families that owe little or no taxes.

Anyone complaining about hypothetical deficit impact or playing the tired hand of class warfare, might first consider how those who pay no taxes get a $1,400 “refund.”

For the rest, any plans for what to do with your money? That being a little more of the money you actually earned? Shocking contemplation.

One assumes Trump will sign this immediately (if he hasn’t already).

No barbs for the GOP for the rest of this Wednesday.