Posts Tagged tax
July 30, 2012
Supporting a central thesis here at Silver Vigilante, the US Dollar is becoming increasingly irrelevant. It is no mystery to anybody that the US Dollar is continuing its steady decline as American wages continue their forty year trend of stagnation and decline via the hidden tax of inflation, while the powers-that-be buy up the world’s resources since the stuff-and-things of the natural world – with their independent, scientifically discovered use-values – will outlast the dictatorial edict of fiat fantasy.
Since the US Dollar also, to a degree, backs each fiat currency of nation’s the world over – most of which have been restructured under the Washington Consensus and via US and western backed institutions like the International Monetary Fund and the World Bank – this then means that we will see a waning of all currencies. That’s the reason individuals want and need something more.
by: Jeff Berwick
July 24, 2012
[Editor’s Note: Due to an outpouring of requests we will bring Dear Slavey to you on a weekly basis – as opposed to the initial monthly basis we planned. And now, here is Dear Slavey!]
I work on project based consulting contracts. The companies I work with prefer to put me on their books as a temporary employee and taxes are deducted from my check. But because they pay me in a lump sum their payroll system thinks I make that much in an 8 hour day, and an enormous amount of tax is taken out. I need that money but I have to wait for a year to get it back from the IRS – my refund is often $10,000 or more – and the actual amount of tax they end up keeping is insane. The companies I work with have refused to alter their payroll system to reduce the tax being deducted. What can I do to keep the money I earn in my own damn pocket before and after tax filing time?
Frank in Reno, NV
First of all, congrats on not buying into the 9-5 hourly slave wage job lifestyle like most of the lemmings in this country. The majority of those jobs don’t pay enough to live anymore, (many slavey wage earners in the US are on food stamps even though they have full-time employment) so you’re already one step ahead. Sounds like you do well, but the US Government is taking your money and using it to pay interest on their debts while you’re being forced to lend them YOUR money with no interest.
by: Madison Ruppert
July 22, 2012
According to the most detailed study of the so-called offshore economy to date, conducted by James Henry, former chief economist with the consultancy McKinsey, the world’s richest people have taken advantage of cross-border tax laws in order to put away a shocking $20.31 trillion in offshore banks.
While this likely isn’t all that crazy to those who are familiar with the massive conflicts of interest in the Federal Reserve and the fact that the Federal Reserveworks with banks to put Americans on the line for the failures of banks, it might be surprising to those who have no clue how the international financial system works.
The astounding sum uncovered by the Henry is slightly less than the 2011 Gross Domestic Product (GDP) of Japan ($5.87 trillion) on top of the 2011 United States GDP ($15.09 trillion).
The findings were published in the new report, “The Price of Offshore Revisited,” which shows that money continues to leak out of major nations and into infamous tax havens like Switzerland and the Cayman Islands.
These transactions are enabled by private banking institutions which all battle to get the accounts of what the Guardian calls the “global super-rich elite,” also known as high net-worth individuals.
Henry demonstrates that sums between £13 trillion ($20.3 trillion) and £20 ($31.23 trillion) have made their way from countries around the world into these secretive banking jurisdictions.
July 18, 2012
Source Links and video text for Today’s Items are located at:
Tuesday, July 17, 2012
By: Ethan A. Huff,
[NaturalNews] Many Americans right now are reeling in disgust over the Supreme Court’s recent decision to uphold the constitutionality of the Affordable Care Act. But according to a recent report by My Way News, the Internal Revenue Service (IRS), which will allegedly be tasked with enforcing the new health insurance mandate in the form of a “tax” for non-compliance, does not actually have the authority or legal standing to collect penalties from individuals who choose to “opt-out” of the mandate.
As many NaturalNews readers already know, most Americans will be required under the Affordable Care Act to purchase health insurance, as well as show proof, beginning in 2014, that they purchased health insurance in accordance with the mandate. Those who decide not to purchase health insurance will be charged a penalty, also known as a “tax” according to Chief Justice John Roberts (http://www.naturalnews.com), which is to be collected by the IRS.
But apparently the IRS does not have the legal authority to force anyone to pay this tax, regardless of whether or not they choose to purchase health insurance. According to the law, the IRS will not be permitted to freeze the bank accounts of taxpayers who choose not to purchase health insurance, nor will the agency be allowed to garnish wages. The IRS also does not have the authority to levy interest charges on those who choose not to pay the penalties.
The only thing the IRS is permitted to do under the new law is withhold tax refunds from those that are due them, and that do not purchase health insurance. Since the majority of tax filers every year are owed refunds, the IRS hopes the threat of not receiving one will be enough to convince the American public to comply with the federal government’s forced health care system.
If this does not work, the IRS is likely to simply send out threatening letters in a desperate attempt to scare people into paying the tax. According to Elizabeth Maresca, a former IRS trial attorney who now supervises the Tax & Consumer Litigation Clinic at Fordham University‘s Law School, most people end up paying whatever is demanded of them by the IRS when it comes in the form of a scary letter.
The fact that the IRS lacks any legal authority to collect an Affordable Care Act tax needs to be spread far and wide so that the American people know their rights. When it comes time to “pay the piper,” taxpayers need to know that, legally, they have the option to refuse both mandatory health insurance and the penalties associated with non-compliance.
Sources for this article include: