TAXES | WHAT REALLY HAPPENED


TAXES

Feb 16 15:54

The Netflix Tax

Feb 16 03:57

TEXAS LANDOWNERS FILE LAWSUIT AGAINST TRUMP`S NATIONAL EMERGENCY

The lawsuit, filed in a DC federal court, is another challenge to the construction of Trump's long-promised border wall.

Three Texas landowners and an environmental group have filed the first lawsuit challenging President Donald Trump's national emergency declaration aimed at freeing up billions of dollars to build a wall along the US border with Mexico, the consumer advocacy group Public Citizen (PC) has said.

The lawsuit, brought in federal court in the District of Columbia on Friday, claims the south Texas landowners were told by the US government that it would seek to build a border wall on their properties if money for the project were available in 2019>>>

Feb 14 11:37

$1,665,484,000,000: Feds Collect Record Individual Income Taxes in Calendar 2018–as Debt Climbed $1,481,349,159,596.80

The federal government collected a record $1,665,484,000,000 in individual income taxes in calendar year 2018, according to the Monthly Treasury Statements for the year, which the Treasury finished publishing today with the belated release of the December statement.

Feb 14 11:13

Trillion-dollar-valued Amazon pays $0 in income taxes for 2018, gets multi-million refund

Trillion-dollar-company Amazon skated through 2018's tax filings without paying a cent for the second year in a row. The e-commerce behemoth, which made $11 billion last year, will pay no taxes at all, thanks to 2017's tax reform.
Rather than pay the standard 21 percent corporate income tax rate, Amazon is actually claiming a tax rebate of $129 million, which works out to a logic-defying rate of -1 percent. Aside from the nebulous “tax credits,” which the company does not have to spell out in its public filings, Amazon is also claiming a tax break for executive stock options, according to the Institute for Taxation and Economic Policy – a longstanding loophole that permits profitable corporations to dodge federal and state income taxes on almost half their profits.

Feb 12 05:37

Tax Chat With Chris Whalen CPA

Feb 11 18:19

8 USC Ch. 12: IMMIGRATION AND NATIONALITY

CHAPTER 12—IMMIGRATION AND NATIONALITY
SUBCHAPTER I—GENERAL PROVISIONS
Sec.
1101.Definitions.
1102.Diplomatic and semidiplomatic immunities.
1103.Powers and duties of the Secretary, the Under Secretary, and the Attorney General.
1104.Powers and duties of Secretary of State.
1105.Liaison with internal security officers; data exchange.
1105a.Employment authorization for battered spouses of certain nonimmigrants.
1106.Repealed.
1107.Additional report.

SUBCHAPTER II—IMMIGRATION

Feb 11 15:32

Most Expensive Midterm Election Ever: Special Interests Paid Billions in 2018 for a Shot to Rule Over You

Even if you vote, or not, and your party wins, or not, because this system is set up this way, the police state will continue. Constantly voting for the lesser of two evils has manifested into an inevitable cycle in which the government gets more powerful and the people get poorer. But don’t take my word for it, just look at the current state of America. -- 50 percent of all American workers make less than $30,533 a year. In the meantime, however, the politically connected elite made up of the 0.1% have increased their wealth by more than $1 trillion in the past year. One trillion also happens to be the same amount of money that the US taxpayer has had placed on their backs in the form of government debt in the last year too. Coincidence? Probably not.

Feb 11 12:56

Taxes, Taxes And More Taxes: The Radical Economic Agenda Of The Left Has A Surprising Level Of Public Support

America has already traveled quite far down the road toward socialism, and instead of reversing course, it looks like the American people want to pick up the pace. -- But all we have to do to see where that road leads is to look at Venezuela. Unfortunately, most Americans are not making that connection at this point.

Feb 08 09:55

Middle Class Dads Freak Out About Trump Tax Hike

It’s February which means it’s officially everyone’s favorite time of year: tax season! And while most of us will be putting off tracking down our W-2’s until early April, some people have already managed to file their taxes. And among those early birds, many in the middle class have been shocked to find that instead of the nice little chunk of change they were expecting with their return, they actually owe money to Uncle Sam.

What’s the reason for this financial switcheroo? It stems from President Trump’s tax reform, which was passed in 2017 and was touted by Trump and the GOP as a win for the middle class. However, with the new tax system now in place, Americans are discovering that most of the tax relief from the bill is actually being experienced by corporations.

Feb 07 05:08

To tax or not to tax the rich more, that is the question

(*DON'T!
There's nothing stopping the rest of us from going out and getting a Third Job in this thriving economy !)

Feb 04 14:35

Taxes Are Getting Weaponized for Partisan Purposes

Government agencies and laws have devolved into weapons to be wielded against political opponents in this country. Why wouldn't taxes follow?

Too many Americans promote taxes as a means of hurting people they dislike, putting the raising of revenue as a secondary consideration—or dropping it entirely.

Given the destructive nature of taxation, it's a potentially effective strategy, at least for a while. But it may also totally delegitimize the tax system in the eyes of the people who are supposed to pay the bills.

Feb 04 09:31

Bill to Abolish the IRS Enters Congress – Media Blackout

A new bill to abolish the Internal Revenue Service (IRS) has been introduced to Congress, amid a total mainstream media blackout.

On January 3rd, 2019, H.R. 24 and H.R. 25 bills were submitted to the US Congress House Committee.

H.R. 24 calls for a full audit of the Board of Governors at the Federal Reserve by the Comptroller General of the United States.

More importantly …

H.R.25 calls for repealing income tax and other taxes, therefore abolishing the Internal Revenue Service, and enacting a national sales tax to be administered primarily by the States.

Feb 01 08:25

California to Tax Drinking Water

Jan 30 11:06

California’s New Governor Calls for a Tax on Drinking Water

California’s new governor has wasted little time continuing the state’s seemingly limitless expansion of government. Governor Gavin Newsom’s first budget proposal, published last week, suggests instituting a tax on drinking water in the name of cleaning up California’s water systems.

The “Environmental Protection” section of the 2019-2020 budget seeks to
establish a new special fund, with a dedicated funding source from new water, fertilizer, and dairy fees, to enable the State Water Resources Control Board to assist communities, particularly disadvantaged communities, in paying for the short-term and long-term costs of obtaining access to safe and affordable drinking water.

Jan 29 05:31

U.S. Hits a Wall in Efforts to Turn the Screws on Iran

The Trump administration is pushing to re-open a special investigation into the military dimensions of Iran’s past nuclear work. But it’s not gaining traction among the international officials who can make it happen.

>>>

(*no tag for SPINNING OUR WHEELS)

Jan 25 13:19

Tax preparers warn your refund may be smaller than usual this year. Here’s why

Taxpayers “see us after the year is over and everything has transpired, and then they want us to wave a magic wand and fix it all,” Cannito said. “There’s not a whole lot we can fix once the year is over.”

Jan 24 10:27

Here Come The Calls For A Global Wealth Tax

A new report strategically timed for release with the start of the World Economic Forum boondoggle at Davos, shows that the world's 26 richest billionaires now own as many assets as the 3.8 billion people who make up the poorest half of the world's population.

The report titled "Public Good or Private Wealth," found that top world's 26 richest billionaires now hold as much wealth as the bottom half of the world's population, some 3.8 billion people. That number was 43 in 2017 and 61 in 2016. According to the Guardian, the report also found that in the 10 years since the financial crisis, the number of billionaires has almost doubled. It also found that between 2017 and 2018, a new billionaire was created every two days.

Jan 22 16:03

States with the highest & lowest property taxes

Jan 22 13:06

House Democrats Plan New Traffic Tax

Democrats have an idea to make bumper-to-bumper traffic worse; tax drivers more when they’re sitting in traffic.

Incoming House Transportation Chairman Peter DeFazio (D-Ore.) is planning to propose a new tax that would penalize drivers by taxing them at a higher rate when they experience traffic.

The traffic tax would be part of a new pilot program for a “vehicle miles traveled” (VMT) tax which would replace the federal gas tax and instead charge motorists based on a per-mile fee.

In order for a VMT system to work, GPS systems would be installed in vehicles which would track vehicle movement and measure miles traveled in order to calculate the tax. Rep. DeFazio would then use the guise of replacing the gas tax with a VMT tax to charge differential rates based on highway congestion.

Jan 22 11:34

Direct Taxation Reduces Economic Growth

Jan 21 09:34

Good News: H.R.24 and H.R.25 Bills Submitted to US 116th Congress (2019-2020) Call For A Full Audit of The FED System & Abolishing the IRS by repealing All Taxes!

H.R.24 Bill Calls For A Full Audit of the Board of Governors of the Federal Reserve System and the Federal reserve banks by the Comptroller General.

And Most Importantly…

H.R.25 Calls For Abolishing The Internal Revenue Service by repealing the income tax and other taxes abolishing the Internal Revenue Service, and enacting a national sales tax to be administered primarily by the States.

Jan 18 09:19

Is It Time to Tax the Air We Breathe?

When California Gov. Gavin Newsom proposed a tax on drinking water as part of his newly unveiled budget, I started thinking: Wait a minute. Didn’t “we” already solve the problem of undrinkable water supplies in some largely impoverished parts of the agricultural San Joaquin Valley? In 2012, then-Gov. Jerry Brown signed a law declaring that “every human being has the right to safe, clean, affordable, and accessible water adequate for human consumption, cooking, and sanitary purposes.”

Apparently, declaring something a human right does not automatically solve the underlying problem, or do so even several years later. Who would have suspected as much? Does that mean that Newsom’s main legislative priorities — essentially creating newfound rights to healthcare and housing — might not lead to his desired goals? Go figure. For a variety of reasons, this water-tax proposal serves as an archetype of our state government and of government programs and priorities in general.

Jan 15 14:08

IRS Admits It Encourages Illegals To Steal Social Security Numbers For Taxes

This isn’t exactly the kind of story the IRS wants buzzing around at tax time. The IRS and Justice Department normally want 'scared straight' stories just before Tax Day. Ideally, when an indictment or conviction for tax evasion hits the news, it makes you think twice. Somehow, you think just a bit more about all those deductions, or if you really reported all your income, before you sign your return under penalties of perjury.

Instead, we have the top dog at the IRS, the IRS Commissioner himself, admitting that, well, there’s a problem with illegal immigrants and taxes. In fact, the top IRS official this time wasn’t talking about how the IRS wipes some hard drives or can’t find emails. He wasn’t even asking for a bigger budget to give bonuses to IRS employees.

Jan 14 19:15

On January 3rd 2019 the House Proposed HR 25, ‘‘Fair Tax Act of 2019’’- A Bill That Will Destroy the IRS and the Privately Operated Federal Reserve Forever

116th Congress, 1st Session

To promote freedom, fairness, and economic opportunity by repealing the income tax and other taxes, abolishing the Internal Revenue Service, and enacting a national sales tax to be administered primarily by the States.

HR 25 the ‘‘Fair Tax Act of 2019’’

Jan 14 13:42

FLASHBACK 1992 - Ad to Accuse Bush of Tax Loophole Ploy

An independent political action committee is scheduled to begin airing television advertisements today accusing President Bush of exploiting a loophole to substantially reduce his personal tax bill over the past decade.

The ad--a copy of which was provided to The Times--attempts to move toward center stage an issue which has rumbled around the periphery of the presidential campaign all year: whether the President has tried to avoid state income taxes in Maine, where he maintains his Kennebunkport family home, by claiming legal residence in Texas, which has no state income tax.

Bush does not own a home in Texas; he sold his Houston residence in 1981 after he was elected vice president and purchased the Maine house from his aunt. At that point, he claimed Kennebunkport as his principal residence--which would have allowed him to avoid paying capital gains taxes on the sale of his Houston home--but the IRS rejected his argument.

Jan 14 12:30

California: Communist Governor Proposes Taxing Drinking Water

Just when you think California cannot possibly come up with more things to tax, the new governor, Gavin Newsom, decides to tax drinking water. In Newsom’s first budget proposal on Friday, the communist included a tax on drinking water.

The new budget, titled “California for All,” declares drinking water a “fundamental right,” yet proposes to tax that “right.” “The Budget includes short-term measures to bring immediate relief to communities without safe drinking water and also proposes an ongoing sustainable funding source to address this problem into the future.”

Webmaster's Commentary: 

Next they will tax air!

Jan 12 09:12

Why Ireland May Soon Have to Say Goodbye to the Low Tax Rates That Made the Nation Rich

By John Phelan

In 1988, The Economist magazine ran an article on Ireland titled “The poorest of the rich.” The title was well-deserved. That year, Irish per capita GDP was just 70 percent of the figure for the United Kingdom and 52 percent that of the United States. The unemployment rate was 16.2 percent compared to 8.5 percent in Britain and 5.5 percent in the United States. Irish government debt amounted to 85 percent of GDP compared to 60 percent in the United States and 37 percent in the United Kingdom...

Jan 12 08:12

US marginal an net tax rates

Jan 12 06:39

IRS Free File opens today

Jan 10 12:21

California, New York roll out taxpayer-funded health care for illegal aliens; the sick will now flock to these states en masse

California Governor Gavin Newsom and NYC Mayor Bill de Blasio are rolling out new “free” healthcare initiatives for illegal immigrants. While illegals may be able to access care in these areas free of charge, it will cost tax-paying Americans a pretty penny. Newsom reportedly struggled to explain how California would pay for the expansion of healthcare for illegals, which he signed into law by executive order earlier this month. The Golden State is already in financial ruin, and it is hard to believe spending more tax dollars is going to help in any way, shape or form.

Jan 07 09:41

Pelosi Introduces Bill To Force Trump, Pence To Release Tax Information. Congress Exempt

CNBC reported that Sarbannes said in a statement that “Once we clean up Washington and get special interests out of the way, we can get to work on a whole host of important issues that Americans care about.” However, from the items specified in the bill’s summary, it appears more like it is about addressing the Democrats’ “special interests.”

One glaring example of that is found in Title X – Presidential Transparency. In the summary, it reads simply as “Requires sitting presidents and vice presidents, as well as candidates for the presidency and vice presidency, to release their tax returns.”

Forcing President Donald Trump to release his tax returns was a talking point used in the 2018 mid-term elections by Democrats. Of note is the fact that Congress is not held to the same standard.

Jan 07 09:29

Julian Castro cites 90 percent tax on rich in defending Alexandria Ocasio-Cortez on tax hikes

Likely 2020 Democratic presidential candidate Julian Castro agrees with Rep. Alexandria Ocasio-Cortez that tax rates on some of the wealthiest Americans should skyrocket.

"Oh, I can support folks at the top paying their fair share," Castro told ABC News' "This Week" on Sunday when asked directly whether he could endorse the high-profile New York Democrat's idea.

The Obama-era Housing and Urban Development secretary, who is expected to officially announce he's running for the White House this week, made the comments after Ocasio-Cortez caught flak for suggesting people earning more than $10 million could be taxed between "60 or 70 percent."

Jan 06 15:34

What the President Could Do If He Declares a State of Emergency

Deep State point of view,but a lot of truth about how much power the President would have if he invoked a State of Emergency and Martial Law.

The moment the president declares a “national emergency”—a decision that is entirely within his discretion—he is able to set aside many of the legal limits on his authority.

Jan 06 14:45

It Begins: Russia, China, and India Are Now All Dumping the US Dollar

(RT) — The past year was full of events that inevitably split the global geopolitical space into two camps: those who still support using US currency as a universal financial tool, and those who are turning their back on the greenback.

Global tensions caused by economic sanctions and trade conflicts triggered by Washington have forced targeted countries to take a fresh look at alternative payment systems currently dominated by the US dollar.

RT has taken a deeper look into the recent phenomena of de-dollarization, summing up which countries have taken steps towards eliminating their reliance on the greenback, and the reasons behind their decision.

Jan 06 14:05

Stamp of disapproval: Postage increases set for end of January

Nothing lasts forever — not even 50-cent postage stamps. The United States Postal Service announced that the cost of its Forever stamps will rise five cents apiece on Jan. 27 from 50 cents to 55 cents.

Jan 06 09:26

The IRS Wants To Use Social Media To Catch Tax Cheats

The Internal Revenue Service is looking for ways to scour social media platforms like Facebook, Instagram, and Twitter in its ongoing quest to catch tax cheats.

That’s according to a request for information issued December 18 by the IRS’s National Office of Procurement. The mining of social media data by the agency has been suspected in the past, but the IRS has never before confirmed the practice.

“Businesses and individuals increasingly use social media to advertise, promote, and sell products and services,” the IRS solicitation reads. “For example, taxpayers can create ‘online stores’ on social networking sites free of cost. Much of this information is unrestricted, allowing the public, businesses and various governmental agencies to discover taxpayers’ locations and income sources. But the IRS currently has no formal tool to access this public information, compile social media feeds, or search multiple social media sites.”

Jan 04 11:28

Alexandria Ocasio-Cortez Suggests Super Wealthy be Taxed Up to 70% to Fund ‘Green New Deal’

Rep. Alexandria Ocasio-Cortez sat with Anderson Cooper for an upcoming 60 Minutes interview set to air this Sunday, a portion of which has been released as a promotion. In the released segment, Ocasio-Cortez reveals how exactly she suggests paying for the environmental agenda known as the “Green New Deal” — with remarkably higher tax rates for the super wealthy.

Ocasio-Cortez suggests in the clip that in her esteem, people should be doing more to pay their “fair share.” When Cooper pressed on how she could possibly pay for the deal, she pointed to the progressive tax rate system in the 1960s, explaining that if you earn 0 to $75,000 a year, you would only pay 10% or 15% in income tax.

Jan 04 10:37

While most Americans thought they wouldn't be affected by the partial government shutdown, anyone with a federal tax refund coming to them will have to wait until the stalemate is over, according to the Wall Street Journal.

While most Americans thought they wouldn't be affected by the partial government shutdown, anyone with a federal tax refund coming to them will have to wait until the stalemate is over, according to the Wall Street Journal.

During a shutdown, the IRS can continue activities that protect government property, and the agency may bring in more workers soon to prepare for the income-tax filing season. Even during a shutdown, the agency still processes some tax returns that include payments, keeps computer systems running and continues criminal investigations. But the IRS generally doesn’t conduct audits, respond to taxpayer questions outside the filing season or—brace yourself—pay refunds.

A shutdown that gets resolved within a few weeks would have little ultimate effect on taxpayers, but lawmakers have made little or no movement toward a deal.

Webmaster's Commentary: 

This timing is particularly grating for those who planned to used their refund money for a specific need; but the real problem, which will cause the excrement to hit the ventilation shaft, is when the money runs out for the national food stamp program.

Civil Unrest Watch: Food Stamp Money To Run Out End Of January If Govt Shutdown Lasts That Long

Jan 04 08:35

Google routed $23bn to Bermuda in 'legal' tax avoidance scheme

US tech giant Google moved some $23 billion in profits to a Bermuda tax haven in 2017, an increase of $4bn from 2016, newly released filings reveal. Google has exploited the loophole in the EU tax system for years.

Google has used a Dutch shell company, called Google Netherlands Holdings BV, to shift billions of dollars to its another affiliate, Google Ireland Holdings, based in Bermuda, for years, to avoid being subjected to much higher US and European income taxes.

Jan 04 07:37

Google Moved $23 Billion to Shell Company to Avoid Paying US, EU Taxes in 2017

The tech giant is still using an offshore company to avoid US and European taxes on its overseas revenues, but it looks like this scheme is going to end soon.

Google moved almost $23 billion in euros through a Dutch shell company to Bermuda in order to avoid paying taxes back home in the US in 2017, according to documents presented at the Dutch Chamber of Commerce on December 21 and obtained by Reuters.

The money was moved via Google Netherlands Holdings BV, the documents say, with the amount of money shifted through this company in 2017 being $4.5 billion more than in 2016.

Jan 03 10:59

Trump and Clinton share Delaware tax 'loophole' address with 285,000 firms

This squat, yellow brick office building just north of Wilmington’s rundown downtown is the registered address of more than 285,000 companies. That’s more than any other known address in the world, and 15 times more than the 18,000 registered in Ugland House, a five-storey building in the Cayman Islands that Barack Obama called “either the biggest building in the world, or the biggest tax scam on record”.

Officially, 1209 North Orange is home to Apple, American Airlines, Coca-Cola, Walmart and dozens of other companies in the Fortune 500 list of America’s biggest companies. Being registered in Delaware lets companies take advantage of strict corporate secrecy rules, business-friendly courts and the “Delaware loophole”, which can allow companies to legally shift earnings from other states to Delaware, where they are not taxed on non-physical incomes generated outside of the state.

Dec 27 07:23

Stealing Money From The Voters: Won’t Last Much Longer.

On September 10, 2001 Secretary of Defense Donald Rumsfeld went on CBS Evening News and admitted that the Pentagon (under the Clinton regime) had spent $2.3 trillion but had no idea where the money went. He promised the American taxpayers that the money was well spent but we just didn’t know where it was. And he promised to improve both the bureaucratic and accounting procedures at the Pentagon so they taxpayers would know their money was being well looked after.

17 years after Rumsfeld pledged to improve DOD budgetary controls, Dr Mark Skidmore, who normally worked with state government accounts where occasionally he found that someone spent as much as $300 without getting a receipt, decided to investigate claims that billions and even trillions had gone missing from federal departments.

Dec 25 08:41

Mnuchin can’t stand up to his boss

Mnuchin can’t stand up to his boss — and it’s costing you money

Imagine missing Donald Regan, President Reagan’s famously irascible Treasury secretary, on Christmas Eve. Imagine spending a morning normally devoted to preparing to mark the birth of a savior brushing up on the exact requirements of the 25th Amendment for removing a president of the United States from office.

But that’s what I did, as more of your retirement money and mine was flushed down the toilet, courtesy of current Treasury
Secretary Steven Mnuchin’s utterly inexplicable decision this weekend to weigh in publicly on big U.S. banks’ ability to withstand a run that literally no one had said was happening, as part of a panicking administration’s unwillingness to tell President Donald Trump “no” about anything.

“I’ve got (*YULETIDE) - you money,” said Regan, reportedly. “Anytime I want, I’m gone.”

Which Mnuchin might have recalled when he tweeted about whether the president could, or would, fire the nominally independent Federal Reserve chairman Jerome Powell for raising interest rates faster than Trump would like.>>>

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