The Fairest, Kindest Tax Reform

Thirty years have passed since America’s last major tax reform, and any attempt at an encore will face huge policy and political hurdles. That was the blunt overview from Jason Furman, chairman of President Obama’s Council of Economic Advisors, in a speech early this year. On the bright side, Furman said there was “increasing agreement that we can get additional revenue while improving efficiency through broad-based reductions in tax expenditures for those who derive outsized benefits…under the current system.” Putting it more simply, those who reap the richest rewards should be first in line when the tax reformer cometh. It’s a fairness argument, and Furman claimed it had won the minds of former Council chairs Martin Feldstein, Glenn Hubbard and Greg Mankiw. Congress should follow their lead and start with the fairest, kindest tax reform of all: a stepped-up timetable for minimum required distributions (MRDs) from tax-deferred retirement accounts. […] Read More

Taxation is Theft and 3 Other Truths the State Must Hide From You

“The only “us versus them” that matters is not about race, religion, nationality, or income level; it is about aggressors and their victims.” — Larken Rose by Gary ‘Z’ McGee, Waking Times Who the hell are the “powers-that-be” anyway? You may not like the answer. The powers-that-be are us. Plain and simple. They are us to the extent that we each continue to give into the unhealthy, unsustainable, violent hype of a system that simply does not function well for healthy individuals. To the extent that we are aware of the hype but still choose to remain indifferent, apathetic, and ignorant to the violence around us, we are the powers-that-be. We are the ugly machinery of the monster that is the unsustainable, unhealthy state. To the extent that we are aware of the hype, and we are systematically attempting to take apart the system, while also creating new, healthier, […] Read More

You Probably Spend More On Taxes Than Food, Clothing, and Housing Combined

Are you familiar with Tax Freedom Day? No, it isn’t the day after April 15th. According to the Tax Foundation, it’s the day of the year when the average American has earned enough money to pay for all the income taxes they will accumulate throughout the rest of the year. In 2016, that day will fall on April 24th. Or put another way, if you work during all 52 weeks of the year, more than 16 weeks of your labor are going to the IRS. According to the Tax Foundation’s annual report, Americans are going to spend a total of $5 trillion on federal, state, and local taxes this year, which amounts to about 31% of our nation’s income. That’s almost $1 trillion more than we spend on food, clothing, and housing put together. Tax Freedom Day happens to fall one day earlier this year than it did last […] Read More

Hillary’s Scary New Cash Tax

Submitted by Brian Hunt via InternationalMan.com, Have you heard of “negative interest rates”? It’s become a phenomenon with economists and the media. There’s a good chance you’ve read an article about it. We’ve covered it many times in the Dispatch. I’m writing to tell you something about negative interest rates you haven’t heard. You certainly won’t hear about it in the mainstream press. What’s coming at you is a historic event. It’s something our grandchildren will hear stories about…much like the Great Depression or the Cold War. What’s coming could send the price of gold much higher in the coming years…and hand gold stock owners 500%+ gains. If you know what’s coming, it could mean the difference between having lots of free cash in retirement or barely getting by. To understand the gravity of this moment, let’s cover one of the most bizarre ideas in the world… negative interest […] Read More

Wait, We Don’t Have to Pay Federal Income Tax?

Have you ever heard that the IRS operates on 90% bluff? This is ex-IRS agent Sherry Jackson. Listen to her discuss how the IRS really works. If you haven’t heard this before, it just might blow your mind… You may have seen Sherry interviewed in Aaron Russo’s film “Freedom to Fascism“. Russo, to paraphrase, said you aren’t technically obligated to pay federal taxes on your personal income, but you probably should anyway, you know, since the IRS basically operates like the mafia… Delivered by The Daily Sheeple Contributed by The Daily Sheeple of www.TheDailySheeple.com. This content may be freely reproduced in full or in part in digital form with full attribution to the author and a link to www.TheDailySheeple.com. Related articles REPORT: IRS Continues SWAT Raids for Evasion While Hundreds of Agents Avoid Paying Any Taxes at All “Income Tax Is Government Theft” and IRS Is a Lawless Thief 15 Signs […] Read More

New IRS process for recommending nonprofit audits draws critiques

Relatively inexperienced IRS managers could take the reins of gatekeeping panels with significant sway over dark money groups under the terms of a memo sent to agency managers last week and obtained by OpenSecrets Blog. The panels determine whether non-profits involved in political activity are called out for audits. Effective July 17, a team of three IRS employees will make up Political Activities Referral Committees (PARCs), which are tasked with “[recommending] referrals for audit in an impartial and unbiased manner,” according to the memo. To refer an audit takes a majority vote of the three committee members. Those three will be selected from a pool of manager-level employees (civil service grade GS-14 equivalents) at random. That means the PARCs will likely consist of workers with little experience administering exempt organizations, said Marcus Owens, a Washington, D.C.-based lawyer and former head of the IRS Exempt Organizations division. “I analogize it as, an […] Read More

7.5 million Americans paid Obamacare penalty – IRS

  2014 was the first year Americans have had to deal with tax credits and penalties pertaining to the Affordable Care Act (ACA). Approximately 7.5 million taxpayers reported paying a total of $1.5 billion in penalties. More Americans paid the penalty for not having healthcare coverage in 2014 than the tax authorities originally estimated, the IRS commissioner confirmed in a letter to members of Congress. The vast majority of US taxpayers had qualifying health coverage. Following “numerous requests” from members of Congress, Internal Revenue Service commissioner John Koskinen sent out a four-page letter with the data the agency has collected so far, after processing about 135 million out of the estimated 150 million tax returns for 2014. Out of those returns, Koskinen wrote, approximately 7.5 million taxpayers reported a total of $1.5 billion in “individual shared responsibility payments,” as the penalty for not having qualifying health insurance is called […] Read More

REPORT: IRS Continues SWAT Raids for Evasion While Hundreds of Agents Avoid Paying Any Taxes at All

Washington, D.C. – The Associated Press has reported that over 1,600 IRS employees have willfully committed tax evasion in a 10-year span; most still employed in spite of a 1998 law calling for termination in such cases. Even worse, it has been reported that many of the tax-evading agents were active in enforcing the federal tax laws they have broken. The agents found many ways to evade taxes, including “improperly claiming dependents, repeated failure to file timely tax returns, and claiming a tax credit for first-time homebuyers when the worker didn’t buy a house.” While only 25% of the willful violators were fired, the report revealed that some of these agents received “promotions, raises and bonuses” after being caught breaking the laws they enforce. In response to the revelations, Sen. Orrin Hatch, R-Utah, chairman of the Senate Finance Committee stated, “It is crucial that IRS employees are held to […] Read More

“Income Tax Is Government Theft” and IRS Is a Lawless Thief

Yes, it is once again tax time. Chances are there have been a few grumblings this time a year in your home or one nearby concerning everyone’s favorite villain – the IRS. From the missing emails of Lois Lerner and using the tax system to target Tea Party protesters to ever increasing debt loads due to expanding government, crony capitalism and general rampant corruption, few if anyone beliefs the tax authority is a beneficial institution. PJ Media issued a three-part series – a Death by Taxes video panel hosted by Bill Whittle wherein he interviews the notorious tax reformer Grover Norquist as well as Curtis Dubay and Terry Jones on the systematic problems of the progressive income tax, and how it has come to so much ruin. The program is well worth watching. It addresses the underlying questions of IRS taxation as sanctioned government theft. In the opening minutes, […] Read More

Steve Jobs Held Billions Of Dollars Offshore. Was He “Unpatriotic”?

Submitted by Simon Black via Sovereign Man blog, At the end of September 2011, just days before his passing, the company that Steve Jobs founded had a $25 billion cash hoard. Nearly half of this was stashed overseas. What’s more, Apple was running billions in profit through multiple Irish subsidiaries, neither of which were taxable by the US government. Steve Jobs departed this life owning 5.5 million shares of Apple (and another 138 million shares of Disney, which employed similar offshore practices). So his personal share of the untaxed offshore booty was obviously substantial. Did this make him ‘unpatriotic’? Was the guy who revolutionized five industries and touched the lives of billions of people some nefarious traitor because he held so much money offshore? Of course not. Despite all the absurd, highly negative media attention centered on shaming companies and individuals who go offshore, it’s one of the most […] Read More

Man Arrested After Trying To Pay Taxes With intricately folded 1$ bills

Wichita Falls, Texas – Last week, a man was arrested while he was attempting to pay his property taxes in $1 bills. According to the police report, 27-year-old Timothy Andrew Norris attempted to pay $600 worth of property taxes in intricately folded one dollar bills. The tax officials refused the payment because it would make their job more difficult. Norris was then asked to leave by a police officer who was at the office. When Norris refused to leave until they accepted his payment, the officer immediately grabbed him and put him in handcuffs. When he attempted to pull away from the officer, he was thrown to the ground and placed under arrest for criminal trespass and resisting arrest. The arrest report stated, “The deputy was at the Annex, 600 Scott Street, just after 2 p.m. when Wichita County Tax Assessor-Collector Tommy Smyth asked Timothy Andrew Norris, 27, to leave […] Read More

Did You Know the IRS and the Fed are Private Corporations?

Pao L. Chang, Guest Most people living in the USA have no clue that the Internal Revenue Service (IRS) is a foreign agency. To be more accurate, the IRS is a foreign private corporation of the International Monetary Fund (IMF) and is the private “army” of the Federal Reserve (Fed). Its main goal is to make sure the American people pay their tax and be good little slaves. Evidence showing that the IRS isn’t part of the United States government Like the Federal Reserve (Fed), the IRS isn’t part of the United States government. Instead, it is a collection agency of the privately owned Fed. As published at ModernHistoryProject.org. The Internal Revenue Service is considered to be a Bureau of the Department of the Treasury; however, like the Federal Reserve, it is not part of the Federal Government (Diversified Metal Products v. IRS et al. CV-93-405E-EJE U.S.D.C.D.I.; Public Law […] Read More

Some Of The Dumbest Taxes Throughout History

Submitted by Simon Black via Sovereign Man blog, In the days of ancient Rome, it was tradition for the upper class to liberate their slaves after a set number of years. The Roman government, however, looked at this as an opportunity to generate revenue, and they taxed the newly freed slave on his freedom. I can’t imagine anything more repulsive than paying tax on freedom. But they gave it a pretty good try– In 1696, the English government under William III (William of Orange) passed a new law requiring subjects to pay a tax based on the number of windows in their homes. Not willing to pay such a ridiculous tax on something as basic as sunlight, many Englishmen simply reduced the number of windows in their homes. There was less light… and less ventilation… which ultimately became a public health problem. To follow that up, England introduced a […] Read More