TAXES | WHAT REALLY HAPPENED X-Frame-Options: SAMEORIGIN

TAXES

Jan 20 04:10

Taxes in California are projected to DOUBLE as the failed state forces residents to pay $1,000 a month for Universal Sick Care

Lawmakers in California are looking to DOUBLE the income tax to implement a universal health insurance system. A staggering 18 percent income tax is being proposed to help cover the high cost of this forced sick care system. That’s not all. To put this Big Pharma racketeering system permanently in place, lawmakers are looking to pervert the state Constitution and make the 18 percent income tax a Constitutional Amendment. The lawmakers claim that health insurance is a right, and everyone should be forced to pay for this system. The people of California are quickly losing all of their rights to assemble, to govern what goes in and on their bodies. Now they are being forced to pay even more for the chains wrapped around their necks.

Jan 19 06:51

California Constitutional Amendment Seeks 18% Top Tax Rate For Universal Medicare

The constitutional amendment would create a comprehensive universal single-payer health care coverage for everyone in the state...

Free Health Care is a Right

The Assembly Constitutional Amendment ACA 11 proposal declares "Comprehensive health care coverage for every resident of California is a right" and seeks major tax hike to pay for it.

Webmaster's Commentary: 

Once again, the legal citizens get to pay for the illegal immigrants.

Jan 18 13:01

Oxfam Calls On Govt. To Impose 99% One-Time Tax On Rich

An anti-poverty organization calls for the government to impose a one-time tax on the world’s billionaires to fund COVID-19 vaccines.

On Monday, Oxfam called for a 99 percent tax on the world’s richest, suggesting the money be used to fund the production of vaccines for the poor. The group argues the super wealthy benefited from the pandemic as financial stimulus pumped up stocks.

Oxfam International Executive Director, Gabriela Bucher is even comparing the pandemic to World War II while suggesting similar measures must be taken.

“There are several countries considering a wealth tax and, in fact, during during World War II it was done,” she explained. “There was tax at 100 percent to address the extreme effects of the war. So we are in a similar situation of crisis now, so we’re looking at considering that type of measure.”

Jan 18 07:55

California weighing proposal that could double its taxes

California lawmakers unveiled a new bill at the beginning of the year that would establish a single-payer health care system – an ambitious plan that would be funded by nearly doubling the state's already-high taxes.

A new analysis from the Tax Foundation, a non-partisan group that generally advocates for lower taxes, found that the proposed constitutional amendment would increase taxes by roughly $12,250 per household in order to fund the first-of-its-kind health care system. In all, the tax increases are designed to raise an additional $163 billion per year, which is more than California raised in total tax revenue any year before the pandemic.

The proposal includes three main revenue raisers, according to Jared Walczak, a fellow at the Tax Foundation: Higher income taxes on wealthy Americans, a payroll tax on certain employees' wages for large companies, and a new gross receipts tax.

Webmaster's Commentary: 

The reason the single-payer health care system is so expensive is that illegal immigrants will qualify for it. I am glad I don't live in California any more.

Jan 17 11:47

Over a million Americans have fled blue states due to high rates of crime, taxes and economic regulation

An analysis has found that as many as one million Americans have fled from Democrat-governed blue States due to the surging crime rate and high taxes. -- “The mass exodus of more than a million Americans moving from largely blue States to red States expresses [their] dissatisfaction with high taxes, rampant crime, lockdowns, [Wuhan coronavirus] vaccine mandates, excessive state government regulations, a politically stifling ‘woke’ culture and the lack of economic opportunity and freedom,” wrote the editorial board of pro-free market research firm Issues & Insights. 

Jan 17 09:29

‘THIS MONEY BELONGS TO THE PEOPLE’: Nebraska Governor Returning $400M Surplus to the Taxpayers

Not something you see every day.

According to the Lincoln Journal Star, Governor of Nebraska Pete Ricketts and chairwoman of the Legislature’s Revenue Committee State Senator Lou Ann Linehan are going to return a $400 million dollar surplus to the taxpayers – there will not be any spending hikes.

“Nobody should be coming into this (legislative) session thinking we will be spending a lot more money,” Ricketts said. “We will give the money back to the people. It’s not our money; it’s the people of Nebraska’s money.”

The $400 million dollars provides “significant funding over and above our needs,” Linehan said. “It’s not normally acceptable to keep $400 million to $500 million of taxpayers’ money that we do not need.”

Jan 16 08:25

California's Exodus Was Just Boosted By Even More Taxes

A new healthcare proposal that would practically double California’s tax revenue has the potential to push even more people to flee the state.

The ambitious legislative proposal seeks to assemble a single-payer healthcare system and use the increased taxes to fund it. While the legislation faces an uphill battle, Gov. Gavin Newsom has publicly voiced support for single-payer systems in the past. He has yet to weigh in on the new legislation.

Jan 14 07:01

IRS Targets Your Side Hustle in Crackdown on Transactions Over $600

It just got harder to hide from the IRS. Starting this month, users selling goods and services through such popular sites as Venmo, Etsy and Airbnb will begin receiving tax forms if they take a payment of more than $600. One by one in recent months, tech giants have been warning users of the coming changes and asking them to provide tax information.

Jan 13 15:08

$1,051,873,000,000: Record Federal Tax Collections Top $1 Trillion in 3 Months

Total federal tax collections in the first three months of fiscal 2022—October through December—set a record as they topped $1 trillion, hitting $1,051,873,000,000, according to the Monthly Treasury Statement released today. -- Prior to this year, the most the federal government had ever collected in total taxes in the first three months of a fiscal year was in fiscal 2016, when it collected $902,498,080,000 in constant December 2021 dollars.

Jan 13 07:11

MSNBC's Joy Reid is slammed for demanding a TAX on the unvaccinated: 'They need to start to pay a little bit more of the cost of what this is doing to our system'

Joy-Ann Reid has called for people who have chosen to remain unvaccinated to pay more tax as a result of their health care choice.

The MSNBC host made the comments during her Wednesday afternoon program.

'At some point, I feel like people who are willfully unvaccinated, fine, don't get vaccinated. But they need to start to pay a little bit more of the cost of what this is doing to our system.'

Jan 12 11:02

Quebec plans to hit unvaccinated with a 'significant' tax

The Quebec government wants to impose a “significant” financial penalty on the “small minority” of Quebecers who refuse to get vaccinated against COVID-19.

Premier François Legault made the announcement — which would be a first in Canada — during a press conference on Tuesday. He said he was working on the tax with Finance Minister Eric Girard while also reviewing the measure’s legality.

“Unfortunately, there is still a small minority, about 10 per cent of the population, that refuses to get vaccinated,” Legault said. “I sense the frustration from Quebecers towards that minority that … is clogging our hospitals.”

“That is why I am announcing that we are currently working on a health contribution that will be charged to all Quebec adults who refuse to get vaccinated,” he continued, adding that people with medical exemptions would be excluded from the new tax.

Jan 12 09:57

Proposed EU directive targets shell companies after Pandora Papers exposed offshore system abuses

The European Commission proposed a new directive this week to target shell companies, less than three months after the Pandora Papers investigation by the International Consortium of Investigative Journalists exposed the large-scale use of anonymous vehicles to hide money, avoid taxes and disguise asset ownership.

The proposal, dubbed “Unshell,” would seek to ensure that letter-box companies that have “no or minimal economic activity” in the EU cannot benefit from any tax advantages, the text of the proposal says.

“Recent investigations such as OpenLux or the Pandora papers were another reminder of the injustices that characterize our economic system today,” economy commissioner Paolo Gentiloni said at a press conference on Wednesday.

OpenLux, by Le Monde and other news organizations, showed how Luxembourg’s investment fund industry helps people launder money and avoid tax.

Jan 11 08:02

US Treasury Warns Of Frustrating Tax Season Due To IRS Backlogs And 'Longstanding Operational Problems'

Existing backlongs and 'longstanding operational problems' at the IRS will likely make for a frustrating tax season this year, a Treasury Department official told Politico on Monday.

The agency is still dealing with two years-worth of backlogs in processing returns - and is trying to process approximately 6 million individual returns as of Dec. 23. Typically, the tax collector juggles around 1 million pieces of unopened mail according to the report.

Webmaster's Commentary: 

With all the talk of forgiving student loans, maybe it's time to forgive past tax debts, wipe the slate clean for Americans, and start fresh with a simpler tax system.

Jan 06 14:31

PayPal, Venmo, and more must report some $600+ payments to IRS

On Jan. 1, 2022, third-party payments apps like Venmo and PayPal were required to begin reporting goods and services payments of $600 or more to the Internal Revenue Service.

The new rule was part of the American Rescue Plan passed by Democrats without a single GOP vote and signed by President Joe Biden in March 2021. It impacts all payments apps, including Venmo, PayPal, Cash App, Zelle, Google Pay, and others.

Jan 04 12:43

IRS WANTS A PIECE OF THE ACTION

The IRS wants to rob the robbers. I thought it was a joke. A prankish Internet meme. But the story is real!

The IRS says criminals have to report their illegal income. The IRS calls such criminals ‘self-employed.’ They must report the value of their stolen goods or income ‘earned’ from illegal activities. If the stolen goods are returned during the same year as the theft occurred, then it can go unreported. Have we ever seen someone return stolen goods to a Walgreens? Did a looter ever un-loot?

Will such self-employed criminals be allowed to deduct items they used to commit their crimes? Why not deduct the mileage and car expenses needed to arrive at said Walgreens? Why not deduct guns, burglary kits, and e-bay fees that were used to fence their goods?

Webmaster's Commentary: 

Allow crime to rampage, then tax the crime. Now it starts to make sense!

Dec 31 13:26

Despite Billions of U.S. Dollars Spent, Puerto Rico Declares State of Emergency on Its Energy Grid

By B.N. Frank

There’s been much reported about the ongoing sad state of Puerto Rico’s Energy Grid. The island’s energy company, LUMA, offers customers “modern meters that allow remote reading”.

“How does LUMA read the meters and produce the bill?

We have two alternate processes. One can be used with more modern meters that allow remote reading. The other is a manual reading that is used with older meters that cannot be interrogated remotely and require our staff to take the reading in person.”

The company doesn’t refer to these “modern meters” as “Smart” Meters. However, it was recently announced that as of 2020, the U.S. “Smart” Meter deployment has reached 65% and more deployment is planned. So there’s a good chance that expensive, dangerous, and privacy invasive “Smart” Meters will be deployed in Puerto Rico if they haven’t been already. As if they didn’t have enough problems…

Dec 30 07:21

11 Billion Dollars Is Not Enough In Taxes According To This Libtard

Elon Musk announced that he would be paying around $11 billion in taxes for the 2021 fiscal year. That, however, is not enough for Progressive Rep. Pramila Jayapal, who believes he should be paying even more. Jayapal believes that wealth, not just income, should be taxed.

Dec 27 13:10

Democratic Tax Plan Will Squeeze Small Business

Democrats in Washington are looking to bolster their tax-and-spend reputation as they try to pass an “infrastructure” package currently slated to cost taxpayers roughly $3.5 trillion in spending and untold sums in tax increases to “pay” for it.

Corporate tax hikes along with higher cigarette and income taxes have been proposed to offset some of the spend-a-thon. But although some of the new tax proposals have made headlines, others have garnered less attention than they deserve.

The Democratic drive to raise the federal corporate income tax from 21 to 26.5 percent, for example, has been widely reported, while the tax hikes proposed for small businesses, such as S-corporations and partnerships, have not.

Webmaster's Commentary: 

Dec 26 09:29

Build Back Bummer: Dems Stripping Biden Bill To Make It Passable

Momentum is growing for checking the scope of President Biden’s social spending and climate package as Democrats seek a method to get the bill through the Senate with Sen. Joe Manchin’s (D-W.Va.) backing.

On Sunday, Manchin effectively killed a much more wide-ranging bill, recognized as the Build Back Better Act by declaring his opposition, deeply disappointing and enraging the White House and fellow congressional Democrats.

Days later, the pain stings, though Democrats are actively pursuing answers that might find muster with the West Virginia senator, whose vote is a necessity in the 50-50 Senate evenly split between the two parties.

Dec 21 08:59

Watchdog Warns Biden Will Install Build Back Better Through Executive Orders

A regulations watchdog predicted that President Joe Biden will try to use executive orders to implement his $2 trillion Build Back Better legislation.

Clyde Wayne Crews, of the Competitive Enterprise Institute, told the Washington Examiner that Biden appeared poised to expand federal regulations greatly, especially if he loses control of the House and Senate.

Former President Barack Obama called that approach ruling with a "pen and a phone" when he lost support on Capitol Hill, the Examiner said.

"Despite all the talk we have from Biden and many Democrats about protecting democracy, progressives see themselves as experts, and progressivism itself is rooted in the rule of experts," Crews told the Examiner.

Webmaster's Commentary: 

There are some serious constitutional issues with that!

Dec 21 08:20

Biden’s Baby Is Officially Dead

And just like that, with barely a whimper, Joe Biden’s multi-trillion-dollar spending baby is officially dead.

Build Back Better, the most awkward weird-sounding name for a piece of pork-ridden legislation is toast.

And now, Biden and his staff are furious at United States Senator Joe Manchin – a fellow Democrat who represents the poverty-stricken state of West Virginia – because he was the lone Democrat to stand up and kill the baby in its crib.

Here’s what happened according to the conservative news site Breitbart:

“The White House issued a condemnation of Sen. Joe Manchin (D-WV) on Sunday after the senator said he would not vote for the Build Back Better bill, effectively killing it in its current form.

Dec 17 10:53

A Last-Ditch Effort to Eliminate a Tax Dodge for the Super-Rich

It’s almost the new year. Let’s make sure Private Equity Barons leave their favorite tax giveaway in 2021.

Much like corporate raiders of the 1980s, the massive private equity industry spent the Covid-19 pandemic increasingly expanding their control over businesses, housing, education, consumer lending, energy, infrastructure, and more. This made a small class of money managers extremely rich, while white, Black and Brown working people suffered.

Their debt-fueled model is not unlike payday lending. Private equity executives buy a company and load it up with debt, then kill jobs and suck wealth from workers, tenants, and communities. As one expert quipped, private equity is perhaps the “single most efficient wealth transfer from taxpayers, workers, and retirees to the richest .01 percent.”

Dec 16 06:56

Proof: Dems Seek Communist Approval For Biden Agenda

Senator Richard Blumenthal used a Communist Party affiliate's award ceremony to rally the far left to continue their activism efforts. Additionally, he advertised the need to pass Biden’s "Build Back Better" bill, and how it appealed to the crowd.

Dec 14 06:33

California Looks To Stab Rooftop Solar Customers In The Back With Massive Incentive Rollback, New Fees

California regulators are eyeing sharp reductions in subsidies for residential solar systems in what would be the first major reform to a program that helped jump-start the rooftop solar industry, according to Bloomberg.

As part of a proposed series of changes issued on Monday by a judge at the California Public Utilities Commission, residential solar customers would receive a much lower credit for excess energy sent to the grid - with credits ranging from around 30 cents per killowatt-hour, to less than 10 cents depending on time of day.

Dec 13 11:52

Dems Panic Over 'Build Back Better' Impasse As Child Tax Credit Set To Expire

Democrats hoping to pass their Build Back Better social spending and climate package by the end of the year are beginning to panic, as continued disagreements with party moderates Sen. Joe Manchin and Kyrsten Sinema threaten to leave more than 35 million families without monthly payments of up to $300 per child starting December 15th.

"We are not going to have a lapse in payments. That’s too important," said Sen. Sherrod Brown (D-OH).

Yet, what Brown can't control is whether Manchin and Sinema will sign off on the massive $1.9 trillion social spending package, which Manchin has repeatedly suggested hitting the brakes on until inflation is under control. He has also previously suggested work requirements and lower income limits for the expanded child tax credit.

Manchin also says that a lapse in the CDC could be made up for at a later date.

"I've never seen a situation where we weren't able to make up whatever you thought time would be lost."

Dec 06 14:30

A Couple Stored IRA Gold at Home. They Owe the IRS More Than $300,000

It’s official: Owners of individual retirement accounts with assets invested in gold and silver coins can’t store them in a safe at their home.

So ruled the judge in a recent Tax Court case, Andrew McNulty et al. v. Commissioner. The decision will cost Mr. McNulty and his wife Donna dearly—taxes of nearly $270,000 on about $730,000 of IRA assets, plus penalties likely to exceed $50,000.

The ruling disallows a scheme that was heavily promoted several years ago, when radio and internet ads touted the benefits of using IRA assets to buy gold and silver coins and then store them at home or in a safe-deposit box. Promoters based pitches on a perceived ambiguity in the law, despite warnings from the Internal Revenue Service and legal specialists.

Dec 03 05:56

Must See: Psaki Says Tax Cuts For Rich Being Considered

Despite resistance from Leftists led by Sen. Bernie Sanders, White House Press Secretary Jen Psaki refused to rule out tax cuts for people with incomes above $400,000 in President Biden’s nearly $2 trillion social and environmental spending bill.

The issue is a sticking point among Democrats, as either Centrists or self-declared Socialists in the party can tank the legislation in the evenly divided Senate and narrowly divided House.

Webmaster's Commentary: 

"The rich give us more political money than the poor!" -- Official White Horse Souse

Nov 29 11:25

The Cruelest Tax Of All

Nov 28 06:49

Biden’s Build Back Better: IRS Audits for Working Class, Tax Cuts for the Rich

President Joe Biden and Democrats are hoping to squeeze an extra $200 billion in tax revenue out of American taxpayers by mostly targeting working and middle class households with Internal Revenue Service (IRS) audits.

As part of Biden’s “Build Back Better Act,” which was already passed by House Democrats, nearly 600,000 more working and middle class Americans earning $75,000 or less a year would be audited by the IRS, an analysis by Republican lawmakers reveals.

“Democrats’ tax and spending spree will more than double Americans’ chances of being audited as it targets lower and middle-income earners,” the analysis states:

The proposal will lead to an additional 1.2 million IRS audits each year, nearly half of which will hit middle class families making less than $75,000. All this so Democrats can wring an extra $200 billion out of the American people, particularly from middle class families and small businesses.
[Emphasis added]

Webmaster's Commentary: 

Nov 27 08:57

Biden’s Build Back Better: IRS Audits for Working Class, Tax Cuts for the Rich

President Joe Biden and Democrats are hoping to squeeze an extra $200 billion in tax revenue out of American taxpayers by mostly targeting working and middle class households with Internal Revenue Service (IRS) audits.

As part of Biden’s “Build Back Better Act,” which was already passed by House Democrats, nearly 600,000 more working and middle class Americans earning $75,000 or less a year would be audited by the IRS, an analysis by Republican lawmakers reveals.

“Democrats’ tax and spending spree will more than double Americans’ chances of being audited as it targets lower and middle-income earners,” the analysis states:

The proposal will lead to an additional 1.2 million IRS audits each year, nearly half of which will hit middle class families making less than $75,000. All this so Democrats can wring an extra $200 billion out of the American people, particularly from middle class families and small businesses.
[Emphasis added]

Nov 27 07:55

Unvax Tax: Expert Proposes Monthly Fines for the Unvaccinated

Vice President of the Lower Austrian Medical Association Gerrit Loibl has suggested that the government should levy a monthly fine of up to €100 to anyone unvaccinated.

Loibl has suggested that those who have not been vaccinated should pay between €90 and €100 (£78-£84/$90-$113) per month to the government, claiming that the amount is based on the current tax on tobacco products.

The proposed monthly fines would be part of Austria’s already announced vaccine mandate for all residents that is scheduled to begin in February of next year.

Medical law expert Karl Stöger was critical of the proposal, however, and said it was questionable whether or not fines would encourage people to get vaccinated, as some people would simply accept to pay them rather than be vaccinated, newspaper Kronen Zeitung reports.

Nov 23 09:07

Biden to Hire 80,000 New IRS Agents to Target the Middle Class and Conservatives – Just Like the Obama Regime Did

The Obama IRS targeted over 400 conservative groups for unprecedented scrutiny.

The IRS Conservative Targeting Scandal involved:

Hundreds of conservative groups
At least 5 pro-Israel groups
Constitutional groups
Groups that criticized Obama administration
At least two pro-life groups
An 83 year-old Nazi concentration camp survivor
A 180 year-old Baptist paper
A Texas voting-rights group
A Hollywood conservative group
Conservative activists and businesses
At least one conservative Hispanic group
IRS continued to target groups even after the scandal was exposed
10% of Tea Party donors were audited by the IRS
And… 100% of the 501(c)(4) Groups Audited by IRS Were Conservative

Nov 23 07:30

Sanders Tries To Rescue Dems From A GOP Attack

In a last-ditch attempt to rescue Democrats from their own worst instincts, Sen. Bernie Sanders (Ind-Vt.) is working to try to limit the party’s politically toxic initiative to enrich wealthy property owners in liberal locales. If his maneuver fails, Republicans will have a potent political weapon heading into the 2022 midterms, as evidenced by a new video the GOP just released on Monday.

At issue is corporate Democrats’ proposal to raise the amount of state and local taxes (SALT) that can be deducted from households’ federal taxes. The $275 billion proposal is now the second largest part of the Build Back Better legislation, even though it would only benefit the 13 percent of Americans who itemize their tax returns.

Nov 22 08:34

'It Was All Nonsense': GOP Lawmaker Cites CBO Score As He Criticizes Build Back Better Agenda

Nov 22 07:54

Democrats' Tax Cuts For The Wealthy In NY, NJ Spotlights Build Back Better Hypocrisy

State and Local Tax (SALT) deductions have made hypocrites out of the entire group of House Democrats.

Tax Plan Inflames Democratic Debate

House Democrats are in a fresh revolt over SALT.

It's a fine (hypocritic) time for it given they all voted for the Build Back Better build.

BBB is now in the hands of the Senate where an Inflamed Discussion is taking place.

House passage of Democrats’ $2 trillion education, healthcare and climate package has inflamed an intraparty debate about whether the bill gives overly-generous tax benefits to high-income Americans.

At the center of the dispute is the House plan to raise the $10,000 cap on the deduction for state and local taxes to $80,000 through 2030. A small but committed group of lawmakers from high-tax states like New York and New Jersey have for years insisted on repealing the $10,000 cap, which Republicans put into place as part of the 2017 tax law.

Nov 20 07:28

So What's in Biden’s $1.75 Trillion ‘Care Economy’ Bill the House Just Passed?

Months of grinding negotiations finally yielded some progress on Friday as the US House of Representatives passed the Build Back Better Act (BBBA), a $1.75 trillion bill packed with social programs that are key to US President Joe Biden’s post-Covid economic recovery agenda. Many are wondering: what sort of programs are in this massive bill?

Biden has billed the BBBA as addressing the “care economy,” in contrast to the Infrastructure Investment and Jobs Act, which he signed into law on Monday. While House negotiations were done in close consultation with the Senate in order to ensure a quick passage, the upper chamber must still debate and vote on it before it can go to Biden’s desk.

Nov 19 10:02

BREAKING: House passes Biden's massive social spending bill after McCarthy's marathon speech opposing it

On Friday morning, the House passed Biden's $1.75 trillion Build Back Better spending package after House Minority Leader Kevin McCarthy delivered a marathon speech overnight that harshly condemned the Build Back Better spending package.

McCarthy's marathon speech lasted over eight hours as be blasted the bill, stalling the vote on the package.

Webmaster's Commentary: 

BTW, the sign should read "Well paying jobs." Oh, right, good grammar is now white supremicism!

Nov 19 07:50

'This Place Should Be Ashamed': David Schweikert Gives Epic House Speech Blasting Build Back Better

Nov 19 06:29

McCarthy blocks Democrats from passing Biden’s social welfare bill in ‘dead of night’

House Minority Leader Kevin McCarthy prevented Democrats from expediting the passage of President Biden’s multitrillion-dollar social welfare bill on Friday, just hours after budget hawks warned the measure adds more than $367 billion to the deficit.

Mr. McCarthy, a California Republican, spoke for more than four hours in opposition to the bill. The marathon session blocked Democratic leaders from ending debate on the partisan spending package.

“Democrats have left the Capitol for the night,” Mr. McCarthy said. “If they think I’m going to stop, I’m not.”

Nov 18 10:39

“Inappropriate Giveaway of Galactic Proportions”: Outrage Over $10 Billion Taxpayer Gift to Bezos Space Obsession

By Brett Wilkins

Activist Post Editor’s Note: We don’t agree with the progressives’ plans for spending other people’s money either.

Progressives on Wednesday slammed what they called a proposed $10 billion handout to Amazon founder Jeff Bezos—the world’s first multi-centibillionaire—in the 2022 National Defense Authorization Act as a “giveaway of galactic proportions” in the face of growing wealth inequality and the inability of U.S. lawmakers to pass a sweeping social and climate spending package.

Nov 15 09:03

Apple Making Taxpayers Pay for Rollout of Digital ID Card in Some States

By Hugh Son

Apple is making U.S. states foot part of the bill and provide customer support for its plan to turn iPhones into digital identification cards, according to confidential documents obtained by CNBC.

The company requires states to maintain the systems needed to issue and service credentials, hire project managers to respond to Apple inquiries, prominently market the new feature and push for its adoption with other government agencies, all at taxpayer expense, according to contracts signed by four states...

Nov 12 06:59

Biden's US Will See Highest Taxes In Western Society

If President Biden's Build Back Better agenda passes the Senate in its prevailing form, the U.S. would have the highest top income tax in the advanced world.

The average top tax rate would get to 57.4 percent, and the top rate would break the 50 percent sealing in all 50 states.

The top marginal tax rate at the federal level would be 51.4 percent. Most states deduct an income tax, the average being 6.0 percent, which would take the top rate to no less than 57.4 percent.

Webmaster's Commentary: 

"Hey, it's only money!" -- Official White Horse Souse

Nov 09 12:07

The Billionaire Tax will be for Everyone

Nov 08 06:50

Trump Labels Spending Bill As Manifestation Of The Green New Deal

Former President Trump mocked President Biden's spending agenda as the "Green New Deal bill," suggesting that, if passed, the American people will face tax increases, and the Democratic Party will lose dozens of seats in the House of Representatives during the 2022 midterms.

In an exclusive interview with Fox News Friday, the former president addressed President Biden's "Build Back Better" agenda and the bipartisan infrastructure package pending in Congress.

Nov 06 09:05

How to avoid taxes… (legally, of course)

Nov 05 06:06

Biden prepares for make or break votes on his Build Back Better and infrastructure bills TODAY despite Manchin's vocal opposition: President's domestic agenda hangs in the balance

The U.S. House of Representatives will convene at 8am Friday in a make of break session for President Biden's massive domestic policy agenda, as Democrats hope they can advance the $1.75 trillion Build Back Better Act and the $1.2 trillion bipartisan infrastructure bill already passed in the Senate in August.

But it comes after they saw a Thursday deadline come and go, the latest in a series of missed targets.

Biden lobbied Democrats in the House on Thursday night to vote 'yes' on his social policy and climate-change bill, as the party tries to recover from sobering state election losses.

Nov 05 06:06

Biden's $1.75 trillion Build Back Better plan will ban religious schools from using infrastructure grants to renovate or repair their facilities

President Biden's $1.75 trillion Build Back Better act will specifically ban religious schools from using infrastructure grants to renovate or better their facilities.

If the infrastructure bill passes the House when it will be voted upon on Friday, then it will ban religiously-affiliated schools or child care services from allocating funds to improve their facilities.

Grant recipients 'may not use the funds for modernization, renovation or repair of facilities that are primarily used for sectarian instruction or religious worship,' the bill says.

In March, Representative Mike Kelly (R-PA.) and junior South Carolina Senator Tim Scott introduced the Child Welfare Inclusion Act, a bill to ensure that both state and local governments cannot discriminate against faith-based adoption and foster care providers by forcing them to choose between offering these vital services and violating their deeply held religious beliefs.

Nov 04 11:16

Exclusive — House Republican Leaders: Biden’s Build Back Better Agenda Is ‘Dead’

House Republicans told Breitbart News in an exclusive interview Wednesday that President Joe Biden’s Build Back Better legislative agenda is “dead” after Tuesday’s Republican landslide elections.

Reps. Drew Ferguson (R-GA); the House Republican chief deputy whip, Kat Cammack (R-FL); and Warren Davidson (R-OH) spoke to Breitbart News after Republicans scored major victories in Virginia, New Jersey, and other elections on Tuesday.

The House Republicans told Breitbart News that the elections serve as a repudiation of Biden’s agenda. Biden has pinned his legislative majority on passing dual infrastructure bills, the $1.2 trillion so-called bipartisan infrastructure bill, or the Infrastructure Investment and Jobs Act, and the $1.75 trillion Build Back Better Act.

Nov 03 07:31

Manchin Once Again The Royal Thorn In Progressives A#s

Joe Manchin’s firm opposition to President Joe Biden’s $1.75 trillion social spending bill framework on Monday left Democrats contending that the irregular Democratic Senator would change his mind.

In a blunt press conference, Manchin said he would not yield to peer pressure to endorse the more progressive social spending bill and denounced the “shell games, budget gimmicks” used in writing it. The West Virginia Democrat slammed House Democrats’ delay of a bipartisan infrastructure bill he helped draft, declaring it “time to vote.”

Oct 31 07:18

The $1 Trillion Child Tax Credit Is Really Universal Basic Income

In the Democrat-backed $3.5 trillion Build Back Better Act that funds so-called “human infrastructure,” is money categorized as a child tax credit but acts as a universal basic income for people with children.

This expansion of the social safety net is a “turbocharged child tax credit that is really a universal basic income, which will discourage work and cost $1 trillion,” The Wall Street Journal editorial board said.

While the bill extends the tax credit through 2025, the editorial board argues neither Republicans nor Democrats running Congress or the White House will ever repeal it.

Democrats expanded the 2021 credit to $3,600 for children under age six and $3,000 for older dependents as part of the March Covid-19 relief bill.

It was an increase from the $2,000 that Republicans offered in their 2017 tax reform plan, which was an increase from $1,000.

Since it’s a “refundable” credit, it’s paid in a check to those who don’t owe any income tax.

Oct 29 05:02

Biden Pitches 'Historic' Spending Plan To Transform America

US President Joe Biden on Thursday announced a "historic" blueprint for remaking America's economy, as he sought to pressure dissenters within his own Democratic Party to back the plan after months of tortuous negotiations.

Biden is banking his legacy on passing the $1.75 trillion Build Back Better social welfare package, a compact with the American people for a more equitable and greener society and the jewel in the crown of his domestic agenda.

He announced he was sure of support for a revised spending framework just before taking off for a G20 summit in Rome -- although whether his efforts galvanized the party's feuding rank-and-file remained to be seen.

Oct 28 07:37

The IRS Is Terrified Of Biden's Plans

On Monday, a group of 99 banks and industry groups addressed a letter to President Biden prompting him to drop his proposal to hand over transaction data to the IRS, noting they were not satisfied with simply raising the threshold from $600 to $10,000.

The organizations that represented business and financial interests, called for the White House to withdraw support for the measure and find 'more targeted measures' to reduce the tax gap.

The proposal to hand over data on all aggregate inflows and outflows of accounts with more than $600 in total transactions, drew sharp outcry from Republicans and banks alike, provoking Democrats to raise the amount to $10,000. However, the letter asserted that raising that cap amounted only to 'cosmetic' changes.

Oct 28 05:06

A Wealth Tax

Most Americans pay an annual wealth tax on their largest asset. It’s called property tax. Each year, they pay an amount equal to a small percentage of the estimated value of their house, and a house is by far the most valuable item that most families own.

The very rich are different. While they pay property taxes too, their homes tend to make up a tiny share of their net worth. The bulk of their assets are not taxed.

In past decades, other taxes — like the corporate tax (the burden of which falls on stockholders) and the estate tax — served almost as de facto wealth taxes. But those other taxes have declined, causing the total federal tax rate on the wealthy to plummet:

Webmaster's Commentary: 

Oct 28 05:04

Hunting for Money, Democrats Rush to Rewrite Tax Code

As they hunt for revenue to pay for their sprawling spending bill and try to unite a fractured caucus, Democrats are attempting to rewrite the United States tax code in a matter of days, proposing the kind of sweeping changes to how America taxes businesses and individuals that would normally take months or years to enact.

The effort has effectively discarded trillions of dollars of carefully crafted tax increases that President Biden proposed on the campaign trail and that top Democrats have rolled out in Congress. Instead, lawmakers are throwing a slew of new proposals into the mix, including a tax on billionaires, hoping that they can pass muster both legally and within their own party.

Oct 26 14:13

PETA Calls on Fauci to Resign After (More) Allegations His Agency Funded Horrific Experiments on Puppies

By Jon Miltimore

Dr. Anthony Fauci, already facing calls for his ouster for allegedly lying to Congress about his agency’s funding of controversial genetic research at China’s Wuhan lab, is now facing political heat on a different front.

On Friday, a bipartisan group of lawmakers sent a letter to the National Institute of Allergy and Infectious Diseases (NAID) and President Joe Biden requesting information regarding allegations that the government funded experiments that injected puppies with parasites.

“We write with grave concerns about reports of costly, cruel, and unnecessary tax-payer funded experiments on dogs commissioned by the National Institute of Allergy and Infectious Diseases,” said Republican Rep. Nancy Mace of South Carolina, one of 24 lawmakers to sign the letter.

By Sunday, People for the Ethical Treatment of Animals (PETA) had joined the group of lawmakers demanding action at the National Institutes of Health (NIH)...

Oct 26 12:07

How Unrealized Capital Gates Works

Oct 26 11:30

A $10K Bank-Snooping Threshold Would Intrude On Millions

Bowing to pressure from banks and taxpayers concerned about a proposal to require financial institutions to report to the IRS gross inflows and outflows for just about every account in the country, Democrats have attempted to quell concerns by raising the threshold. Unfortunately, even the raised threshold is still laughably low to accomplish Democrats’ stated purpose of cracking down on wealthy tax cheats.

The original proposal would have required financial institutions to report on any account (be it a checking account, savings account, stock portfolio, etc.) which handled more than $600 in inflows and outflows in a given year.

Obviously, that’s just about every account.

But the new proposal isn’t much better. This time, the threshold would be set at $10,000, and exempt payroll deposits. In other words, if a given taxpayer received $20,000 in payroll deposits, they would only exceed the threshold were other deposits and spending, taken together, to exceed $30,000.

Oct 26 08:17

The wealth tax is coming

Oct 25 09:56

Pelosi Confirms Wealth Tax On Billionaires' Unrealized Gains Is On The Way

In the scramble to find a tax hike that all 50 Democrat Senators could support, Senator Kyrsten Sinema OKs a Tax on Billionaires’ Unrealized Gains.

A new annual tax on billionaires’ unrealized capital gains is likely to be included to help pay for the vast social policy and climate package lawmakers hope to finalize this week, senior Democrats said Sunday.

“We probably will have a wealth tax,” House Speaker Nancy Pelosi (D., Calif.) said Sunday on CNN, noting that Senate Democrats were still working on their proposal, which isn’t technically a wealth tax but bears a strong resemblance to that idea.

The proposal under consideration from Senate Finance Committee Chairman Ron Wyden (D., Ore.) would impose an annual tax on unrealized capital gains on liquid assets held by billionaires, Treasury Secretary Janet Yellen said Sunday on CNN.

Oct 22 09:15

Why Congress Should Say No To An IRS Power Grab

It’s hardly surprising that the Internal Revenue Service (IRS) often receives low marks from American taxpayers. After all, simply filing your tax return can be a headache, let alone fighting for deductions or dealing with an audit. A recent survey conducted by Gallup found that Americans' view that the IRS was doing an "excellent" or "good" job has dropped from 50 to 37 percent in the last two years. It’s puzzling then that – with all the pressing issues facing our country today – some members of Congress are choosing to prioritize expanding the power and authority of the IRS at the expense of taxpayers and their privacy.

Progressive members of Congress, led by Senator Elizabeth Warren (D-Mass.), are pushing to give the IRS the power and responsibility to prepare tax filings on behalf of all Americans, even though the private sector currently provides this service cheaply - many times at no cost — and efficiently.

Oct 22 06:26

Biden REPEATS his debunked claim that his multi-trillion dollar spending plan costs nothing and says people don't understand what's in it

Joe Biden repeated his questionable claim Thursday night that his multi-trillion spending plan will not cost anything, which some experts have called 'delusional.'

The president made the remark at the top of his town hall meeting on CNN, saying: 'By the way, all this paid for. Every single penny. It's not going to raise one single cent.'

Biden also acknowledged that his congressional agenda is hard to understand. He has two pieces of legislation he's pushing: his infrastructure plan that funds traditional projects like roads, bridges and airports and he has a second plan that focuses on social programs. That second plan has been called a budget package, a reconcilitation bill, and his Build Back Better bill.

Oct 22 05:49

US Seals Agreement To End European Digital Taxes

The United States has resolved a key point of trade friction with Europe after inking a deal to end controversial digital services taxes on American tech giants.

Washington said Thursday it will remove punitive tariffs on products from Austria, France, Italy, Spain and Britain as part of the deal -- a critical step in improving frayed relations even though the duties were never imposed.

Under the joint agreement, those countries will end taxes on Big Tech companies once a global minimum corporate tax deal takes effect, which is expected in 2023.

Any levies paid for the DSTs in the interim will be credited to future tax bills, according to the deal.

Oct 21 10:24

California tried to save the nation from the misery of tax filing — then

Oct 21 10:21

Inside TurboTax’s 20-Year Fight to Stop Americans From Filing Their Taxes for Free

Intuit’s QuickBooks accounting product remains a steady moneymaker, but in the past two decades TurboTax, its tax preparation product, has driven the company’s steadily growing profits and made it a Wall Street phenom. When Smith took over in 2008, TurboTax was a market leader, but only a small portion of Americans filed their taxes online. By 2019, nearly 40% of U.S. taxpayers filed online and some 40 million of them did so with TurboTax, far more than with any other product.

But the success of TurboTax rests on a shaky foundation, one that could collapse overnight if the U.S. government did what most wealthy countries did long ago and made tax filing simple and free for most citizens.

Oct 21 06:00

Watch: Biden And Dems Continue Hopeless Spending Bill Pitch

Democratic members of Congress trooped to the White House Tuesday in the latest attempt to hammer out an agreement on a multi-trillion dollar social spending bill they are attempting to enact without Republican backing.

Nine members of the far-left House Progressive Caucus emerged from an almost two-hour meeting with President Biden, Vice President Kamala Harris, and Treasury Secretary Janet Yellen speaking hopefully of progress though had few details to point to.

Oct 21 05:04

'I've Said Too Much': John Kennedy Lets Loose On Democratic IRS Monitoring Proposal

Oct 21 05:01

Democrats Cut Spending Package To $1.9 Trillion, Drop Free Community College

President Joe Biden and Democrats continue to negotiate the final price tag of their spending package where both sides believe an agreement can be reached between $1.75 trillion and $1.9 trillion, after removing free community college and curtailing the child tax credit.

The slimmed package will still include priorities such as universal pre-K and an expansion of Medicare. Billions will be allocated to address climate change, but parts of the climate agenda will be scaled back. Paid leave will be cut from 12 weeks to four, and less money will be allocated toward affordable housing than initially envisioned, while eldercare and insurance tax credits remain on the table. The child tax credit would only be extended for one additional year, according to reports.

Oct 19 08:03

Decoding the Proposed New Invasive IRS $600 Bank Reporting Rule

The right to privacy is a fundamental human right in any democratic country.

It is also recognized by the UN Declaration of Human Rights, the International Covenant on Civil and Political Rights, and many other international and regional treaties.

Beyond the laws and proclamations, the right to privacy is rooted in a citizen’s inherent right to dignity.

In a democracy, the state is subordinate to the citizen hence the government must respect the rights and dignity of the citizen.

The citizen has the right to withhold any information that he or she deems unsuitable for public consumption, provided that the information is not related to any criminal activity.

Oct 19 07:38

Tax The Rich? More Like CRUSH The Poor

Under a new Biden administration proposal, the Internal Revenue Service is three times more likely to audit a citizen making less than $25,000 instead of someone in the top 1 percent of wealth.

The new proposal, which would need financial institutions to annually report customers’ account deposits and withdrawals at $600 or more, provides the IRS more leverage over those making less than $25,000 because they are more prone to have irregular income. Over the next decade, the reporting on over 140 million bank accounts would raise an approximated $700 billion in tax revenue, covering social spending in the Reconciliation Bill.

Oct 19 06:20

Jesse Watters reveals what's really in Biden's massive spending plan

Oct 19 05:42

White House Still Pushing 'Free' Biden Agenda

President Biden is sticking by his claim that his Build Back Better agenda will cost the average American taxpayer absolutely nothing.

"The cost of the Build Back Better Agenda is $0," the White House tweeted Sunday.

"The President's plan won't add to our national deficit and no one making under $400,000 per year will see their taxes go up a single penny," the declaration read. "It's fully paid for by ensuring big corporations and the very wealthy pay their fair share."

Webmaster's Commentary: 

Oct 18 07:00

What's Next For Washington: $2.5 Trillion In Spending, Higher Taxes And More

Full disclosure: This is NOT another tea leaf reading on exactly how and when Congress will manage to raise the debt ceiling, keep the government open, and pass a multitrillion-dollar package of spending offset by tax hikes. To be clear, we continue to think that it will do all of the above. But rather than focus on the palace intrigue, we’ll deal with DC’s policy choices in classic Morgan Stanley Research fashion…by focusing on tangible market impacts.

Oct 13 07:59

Republicans Warn Biden's IRS $600 Disclosure Plan Could Lead To "Surveillance State"

Republicans are sounding the alarm over a proposal tucked inside the Democrats’ 2,500-page $3.5 trillion Build Back Better Act that would expand the Internal Revenue Service (IRS) and allow the agency to have access to any bank transaction of $600 or more.

The proposal would give the IRS further access to anyone’s financial information, which Republicans say amounts to federal overreach and a “surveillance state.”

“How can you possibly justify to the American people that the IRS should be snooping around in their bank, retirement, or investment accounts,” said Sen. Rick Scott (R-Fla.) said on Oct. 7 from the Senate floor.

“There’s only one explanation, and it’s simply terrifying: The Democrats want to control how you spend your money.”

“I want to be very clear what President [Joe] Biden’s proposing here is as close to policy from communist China that we’ve seen in the United States,” Scott added.

Oct 13 07:30

The Future of Direct Taxation

SHARE THIS ARTICLE WITH YOUR SOCIAL MEDIA