taxes
Individual income taxes: $120B, 63% for $76B debt interest (Feb).
This is an amazing number to watch in the next few years. Individual income taxes are about 1/2 of the govt revenue. For February, the US govt collected $120 billion from individual income taxes. They had to spend $76 billion in February to pay interest on the nation debt. We… https://t.co/hBI6ZhcLiP — Wall Street Mav …
NH School Funding Fairness Project = HIGHER State Taxes
There’s a highly organized, concerted effort underway here in NH to get outrageous amounts funded for NH schools and education agendas. I smell a racket in the making. This organization seems suspect and needs more looking into – which leftist/globalist entities are supporting and pushing this: The New Hampshire School Funding Fairness Project. https://fairfundingnh.org/ NH …
Republicans Applaud Biden’s Plan to Raise Taxes of Billionaires
President Joe Biden’s plan to raise taxes on billionaires was applauded by Republican Senators Ted Cruz and Josh Hawley on Thursday night. Biden vowed to raise taxes on billionaires to a minimum rate of 25 percent during his 2024 State of the Union address, joking about the “great sacrifices” that billionaires are currently making by …
IRS issues statement — We are coming after high earners who aren’t paying taxes.
IR-2024-56, Feb. 29, 2024 WASHINGTON — In the continuing effort to improve tax compliance and ensure fairness, the Internal Revenue Service announced a new effort today focused on high-income taxpayers who have failed to file federal income tax returns in more than 125,000 instances since 2017. The new initiative, made possible by Inflation Reduction Act …
Drug Dealers must declare their income for taxes
SALT LAKE CITY (KTVX/NEXSTAR) — It’s tax season in the U.S., leaving many Americans to try and sort through the mess of W-2s and 1099s. Making sure you report every bit of your income to the IRS can be a daunting task. Thankfully, the IRS has a handy list of income you need to report …
Illinois State Senator Dan McConchie: New taxes and increased taxes are in the works for you so you can pay for the illegal immigrants
“BREAKING: We Just Learned How Chicago/ Illinois Is Planning On Paying For Their Illegal Immigrant Invasion American Tax Payers Will Be Looking At New Taxes & Tax Increases “A billion in taxes for you and me” Illinois State Senator Dan McConchie “Just got out of the governor’s annual budget speech and let me tell you …
Wyoming looks to eliminate property taxes, in blockbuster bill.
If a blockbuster tax reform proposal from Casper Republican state Rep. Steve Harshman goes the distance, most property taxes in Wyoming would be eliminated in lieu of hiking the state sales tax by 2%. Harshman is the sponsor of House Bill 203, which would remove all property taxes for an estimated 97% of Wyoming homeowners. In …
Jeff Bezos will save over $600 million in taxes by moving to Miami
Jeff Bezos will save over $600 million in taxes by moving to Miami KEY POINTS *Last year, Bezos announced on Instagram that he was leaving Seattle after nearly 30 years to move to Miami. *In 2022 Washington state imposed a new, 7% capital gains tax on sales of stocks or bonds of more than $250,000. …
$6 Trillion in taxes at stake in 2024 elections.
via WSJ: WASHINGTON—There isn’t a dime’s worth of a difference between the political parties. The chasm is more like $6 trillion. The winners of November’s presidential and congressional elections will quickly face decisions on extending tax cuts scheduled to expire after 2025. President Biden and Republicans support starkly different tax plans. Republicans generally want to …
Mayor of Toronto will be increasing property taxes by 10.5% this year.
Olivia Chow, the communist mayor says that to close the $2B annual budget shortfall of Tronna, they must jack up taxes. Forget cutting spending, just continue to tax the hell out of everyone!!!! Well, that’s communism for you. via CBC.CA: With the recommendation of an additional 1.5 per cent increase to the city building tax, …
Tax Season is here — Quick reminder to report all illegal activities and stolen property on to the IRS, when filing your taxes. The IRS requires it.
I never understood the second rule. If you return stolen property to the rightful owner the next year, can you then claim tax deduction? h/t TonyLiberty
IRS Raising Taxes for Inflation
by Chris Black IRS provides tax inflation adjustments for tax year 2024. TLDR — your taxes will DOUBLE unless you’re married, in which case your taxes will TRIPLE. via IRS: IR-2023-208, Nov. 9, 2023 WASHINGTON — The Internal Revenue Service today announced the annual inflation adjustments for more than 60 tax provisions for tax year …
Supreme Court hears case involving IRS taxation of UNREALIZED gains, meaning you’d have to pay more taxes every time an unsold asset gains value
via naturalnews: There is a case before the Supreme Court right now that, depending on the direction it takes, could allow the Internal Revenue Service (IRS) to begin taxing unrealized capital gains in addition to realized capital gains. Moore v. the United States technically deals with a different issue involving a couple that was taxed by the IRS for unrealized gains overseas. It …
Ukrainians Demand Taxes from PornHub to Fund War
by Chris Black The law is absurd, and no one should comply with this. You can’t charge foreign companies because they offer internet services. I’m totally against porno, and think it should be illegal everywhere (it actually is illegal in the Ukraine, but the law isn’t enforced). But I support PornHub’s refusal to pay some …
The Era of Big Taxes has finally arrived.
Rich countries, facing higher interest rates, boost taxpayer funding for state spending. Record tax revenues, exceeding GDP shares, support diverse needs amid global challenges. via WSJ: Rich countries are raising more money from taxpayers than they have in decades to finance a burst of state spending as surging interest rates make borrowing less attractive. Tax …
40% of your paycheck for federal income taxes pays toward the staggering $1 trillion annual interest on the US debt.
US govt:~$5 trillion total rev all sources~$2.5 trillion of that is personal income taxes~$1 trillion annual interest on the debt. This is crazy to think about. When you look at your paycheck info, and you see that amount taken out for Federal income taxes … 40% of it is… https://t.co/OCPDzSgYnR — Wall Street Mav (@WallStreetMav) …
Interest on National Debt Approaches 100% of Personal Income Taxes
As the U.S. government collects approximately $2.5 trillion annually in personal income taxes, a staggering 40% of that sum, equivalent to $1 trillion, is already allocated to servicing the interest on the national debt. The ominous trajectory continues as interest payments swell due to the maturation of older, low-interest debt being refinanced at higher rates, …
Why am I paying taxes?
The Pentagon: We’re unable to track $3.8 trillion dollars of military spending. The U.S. Treasury: We’re unable to track $5 trillion dollars of pandemic spending. The Navy: We’re unable to track where a $30 million F-35 fighter jet went. The IRS: You owe us $3.37 pay it right… — Not Jerome Powell (@alifarhat79) November 16, …
How companies legally avoid taxes with transfer pricing:
by TonyLiberty 1) A company in the U.S. sets up a subsidiary in a country with low or no taxes, like the Cayman Islands. 2) The subsidiary owns things the parent company needs, like intellectual property or trademarks. 3) The subsidiary charges the parent company licensing fees to use that intellectual property. Here is an example. Company …
If you’re a business owner, you can pay your children $13,850 (tax-free) and deduct it from your own taxes (legally). Here’s how:
by TonyLiberty By doing this, you can legally reduce your taxable income by $13,850 and avoid paying tax on that amount, plus your child will owe $0 taxes on that amount, and you can also invest $6,500 of that in a tax-free Roth IRA. (When you employ your children it’s s a business expense and …
Interest Consumes 40% of Income Taxes, U.S. Treasury’s Unsustainable Path Raises Default and Inflation Fears
The interest payments on the national debt alone used up 40% of all the money collected from individual income taxes in October. This means a significant portion of the taxes paid by individuals goes just towards paying the interest on the money the government has borrowed. The US Treasury is now spending almost twice as …
An IRS crackdown on wealthy taxpayers has now brought in $160 Million in back taxes.
An IRS crackdown on wealthy taxpayers has now brought in $160 Million in back taxes. The IRS also estimates that hundreds of billions more could be raised by enhanced audits of high-earners and corporations. The IRS is sending a message to wealthy taxpayers who may be tempted to engage in tax evasion. Do you think …
Former Treasury Secretary Summers says the quiet part out loud: IRS must collect more taxes
Former Treasury Secretary Larry Summers believes that the current federal budget deficit poses a greater challenge for the economy than it has before in U.S. history. Summers said Tuesday during an event staged by the Center for American Progress, a Democratic Party-aligned think tank, that the U.S. budget deficit, which came in at $1.7 trillion …
Americans Failed to Pay a Record $688 Billion in Taxes. The IRS Says That Will Change.
Americans didn’t pay an estimated $688 billion in taxes due on their 2021 returns—the largest shortfall ever. Audits and other enforcement will be stepped up to reduce the gap, the Internal Revenue Service said Thursday. The number includes $542 billion due to underreported income, with the remainder of the shortfall owed by those who didn’t …
Poland has cut taxes for first-time homebuyers and raised taxes for those buying multiple properties
Poland has cut taxes for first-time homebuyers and raised taxes for those buying multiple properties (like corporations). Should more countries do the same? Read more here: https://notesfrompoland.com/2023/09/01/poland-cuts-tax-for-first-time-homebuyers-and-raises-it-for-those-buying-multiple-properties/ h/t TonyLiberty
When they have the ability to print unlimited currency, they become less reliant on taxes and can thrive while we suffer.
Paper money turns government from parasite into predator. Aside from stealing your life savings and launching depressions, one of the nastier features of paper money is what it does to governments. Because once a government can print what it likes, it no longer needs taxes.… pic.twitter.com/ASQp1MwfFM — Peter St Onge, Ph.D. (@profstonge) October 7, 2023
Bill Clinton calls for migrants to ‘begin working, paying taxes and paying their way’
It’s broken. We need to fix it,” Clinton said, adding that the law “doesn’t make any sense.” They ought to work,” Clinton said. “They need to begin working, paying taxes and paying their way. Most of these people have no interest in being on welfare.” They come here, and we’re supposed to shelter people who …
Trudeau Removing Attorney Client Privilege For Taxes
by Martin Armstrong Trudeau is Klas Schwab’s pet. He does as he is told. No world leader has sought to destroy the attorney-client privilege, but Trudeau is hunting money for taxes and removing the confidentiality between Canadians and their lawyers. What is next? Priests must report every sin to Trudeau they hear in confession. Trudeau …