Tax System Explained

cLAP cLAP cLAP

Bernie the Tax Man

skoonj	Comrade SNOPES hilariously attempts to discredit this photo -like we care?

What are they thinking?

When Democrats are in charge

Das Bernie On Sunday night... someone finally thought to ask Bernie Sanders about his home state's experience adopting a single-payer healthcare system. Vermont had planned to use Obamacare and the millions in federal grants that accompanied it as a jumping-off point for establishing its own universal state-run health insurance system. The plan had to be abandoned, however, when lawmakers and the state's Democratic governor were finally informed it would require a doubling of the state's budget. When Andrea Mitchell asked the question, Sanders gave just the sort of weak answer you'd expect. "Let me just say that you might want to ask the governor of the state of Vermont why he could not do it," Sanders said. "I'm not the governor. I'm the senator from the state of Vermont." Of course, this is a rather damning commentary on the policy. Vermont's governor, unlike its senator, has to worry about budgets balancing and taxpayer rebellions and the like. [Full] And there's this .... a list of Bernie Sanders' $19.6 trillion in tax hikes

Tax Day Special High Road to Serfdom “Indeed, it could almost be said that wherever liberty as we know it has been destroyed, this has been done in the name of some new freedom promised to the people,” Hayek wrote. The startling thing about the books academics typically dismiss as relics of the past is the uncanny manner in which they anticipate the present. “Democracy extends the sphere of individual freedom,” Alexis de Tocqueville wrote in 1848. “Democracy attaches all possible value to each man while socialism makes each man a mere agent, a mere number.” “Democracy and socialism have nothing in common but one word: equality. But notice the difference: while democracy seeks equality in liberty, socialism seeks equality in restraint and servitude.”  The de Tocqueville quote was resurrected nearly a century later by Friedrich A. Hayek in The Road to Serfdom. The Austrian economist and philosopher himself proved to be quite prescient in his own analyses. “Indeed, it could almost be said that wherever liberty as we know it has been destroyed, this has been done in the name of some new freedom promised to the people,” Hayek wrote. “Even among us we have planners who promise us a ‘collective freedom,’ which is as misleading as anything said by totalitarian politicians.” “‘Collective freedom’ is not the freedom of the members of society, but the unlimited freedom of the planner to do with society that which he pleases.” Think of some of the exotic freedoms we have been promised lately. Here are some other Hayekian insights which arguably still resonate 70 years after they first appeared in print: “Almost all the traditions and institutions which have moulded the national character and the whole moral climate of England and America are those which the progress of collectivism and its centralistic tendencies are progressively destroying.” [In case you wondered where the progressivism comes in.] “Great danger lies in the policies of two powerful groups, organized capital and organized labor, which support the monopolistic organization of industry.” [Crony capitalism, anyone? Perhaps someone should build a statue of Hayek that overlooks Detroit.] The distinguished émigré also offered a poignant coda for those of us with grandparents who left their homelands because they didn’t want to be born into the job they would die in: “Nothing makes conditions more unbearable that the knowledge that no effort of ours can change them. It may be bad to be just a cog in a machine but it is infinitely worse if we can no longer leave it, if we are tied to our place and to the superiors who have been chosen for us.” Finally, read this little passage of Hayek’s, written before World War II drew to a close, and realize how long we have been bereft of accuracy in either the media or academia: “The younger generation of today has grown up in a world in which, in school and press, the spirit of commercial enterprise has been represented as disreputable and the making of profit as immoral, where to employ 100 people is represented as exploitation but to command the same number as honorable.” © Accuracy In Academia As an aside: Diana West Discusses Obama's Forged Birth Certificate and Forged Selective Service Reg

IRS

Oh My

Global Warring

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.... 15-cents-a-gallon carbon tax on fuel next year  ... is it that God makes the weather change all the time but some people say it isn't God but because you and mommy blow bad gasses into the ironment?   SACRAMENTO (CBS/AP) — The state Senate leader on Thursday proposed a tax on consumer fuel purchases of gasoline, oil, diesel, ethanol and natural gas, with the money raised diverted to mass transit projects and households making less than $75,000 annually. The plan by Senate President Pro Tem Darrell Steinberg, D-Sacramento, would not create an additional tax, however. Instead, it would alter how money is raised and spent under a provision of California’s landmark 2006 greenhouse gas emissions law, known as AB32. Rhys Williams, Steinberg’s press secretary, emailed KCAL9’s Dave Bryan and said, “It’s not a gas tax. He’s not raising gas taxes. Prices on fuels are set to rise, unpredictably, when the cap-and-trade program expands to cover fuels in 2015. Instead, the senator proposes replacing this expansion with a stable tax on carbon.” Environmental and business groups immediately opposed Steinberg’s plan, and Republican lawmakers questioned whether it could pass the Legislature. It would impose an estimated 15-cents-a-gallon carbon tax on fuel next year, offsetting an indirect tax that will be imposed in 2015 under the existing law that helped establish the nation’s largest carbon-trading marketplace. The state’s current cap-and-trade program applies only to industrial plants. It allows companies with higher emissions of greenhouse gases to buy pollution credits from companies that have found a way to lower their emissions below a certain threshold. But next year, the cap-and-trade program is scheduled to be extended to the producers of carbon-based consumer fuels. In turn, that will raise prices at the pump by an uncertain level. Steinberg said his proposal would raise the per-gallon carbon tax to an estimated 24 cents by 2020, which he said would still be lower than the 40-cents-a-gallon price hike that is possible under AB32. He acknowledged, however, that by 2029 his proposed carbon tax would be higher than the upper projected limit under the current law. Either tax will sting motorists at the pump as a necessary way to lower fuel consumption and discourage the emission of gases blamed for causing global warming, Steinberg said. “On the issue of climate change, we have no choice: We must reduce the amount of carbon we put in the air, and that will come with a price,” he said. “Nothing is free.” [Full Baloney Pony]

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Insane Government

Why People Cheered the Movie... and would prolly cheer the real deal “ Let's say you own a home and your mortgage is $1,000 a month. If, however, you instead rented the home from a landlord your rent, let's say, would be $2,000 a month. To the mandarins at the IRS, you are "earning" an implied $1,000 a month because you own and not rent, and that "value" should be added to your taxable income. If you own your home out-right and don't have a mortgage at all, you would be "earning" $2,000 a month which the IRS thinks should be added to your taxable income. [The Most Absurd 'Loophole' in the Tax Code] ...   the feds list this exemption as one of the top "loopholes" in the tax code. They estimate that it "costs" the feds over $50 billion a year to not levy this tax. ”

Rick Santelli

Oh My

cuzzin ricky

Tax Flight

Chances are you voted for Obama if .... “ Chances are you voted for Obama if .... This surprises you You think them unpatriotic You think 50% is  a very reasonable confiscation rate You noticed he's white You've never filed a tax return ”

One of 5,0945 Tax Increases Scheduled

When Democrats are in charge                                                Are You Ready?  Is your Stupid B-I-L? Social Security Tax Increase

Iknow said the Democrat- "Tax it!"

GREEN CRAP Save the planet my ass. U.S. carbon tax could halve deficit in 10 years: report Reuters – 5 hrs ago “ WAHSINGTON(sic), Sept 26 (Reuters Point Carbon) - Imposing a $20 per metric ton carbon tax in the U.S. could reduce the country's budget deficit by 50 percent over the next 10 years, a report by the Congressional Research Service said on Tuesday. Such a tax would generate approximately $88 billion in 2012, rising to $144 billion by 2020, the report said, slashing U.S. debt by between 12 and 50 percent within a decade, depending on how high the deficit climbs Coming close to an admission of what's driven the ridiculous  man-caused-climate change hypothesis all along:  control of the worlds economy via carbon tax.    Use whatever term suits you; communist, world orderists, socialists, fascist Democrats - they are never stopped by less than flame throwers big and small. Never. Aside:  The spelling "WAHsington" was no error.  It's the Wahabi version purchased by the Saudis and waiting implementation if Obama is reelected.  Shhhh.    ”

Wisconsin Recallers screened for tax delinquency

WHAT GUMMINT DOES          “The power to tax is the power to destroy” This quotation comes from the words of DANIEL WEBSTER and those of JOHN MARSHALL in the Supreme Court case, McCulloch v. Maryland. “ click After refining the dataset created by Verify the Recall, a Wisconsin man began running it against other public records and discovered 571 tax delinquents signed Recall petitions. His findings? The total in back taxes owed by petitioners is more than $17 million. The list of individuals can be found through the website, www.putwisconsinfirst.com I despise that people's personal affairs are so easily used to repress political debate.  However, since it's here being used against the political; class most responsible for our loss of all privacy, I'll view it as a proper learning experience—   a.k.a. schadenfreude..  ”

Taxing Apples

Apple 'avoiding billions in global taxes,' report claims             —   As they should, you  berk.    If you're not doing everything in your power to avoid taxes, you are indeed a berk!  Evading tax is illegal.   Ask  Mr. Charles B. Rangel.  Oh, I'm sorry.  You'll have to ask someone who's not an elected Democrat. Ask  Sec/Treasury Timothy Geithner.  Oh, I'm sorry.  You'll have to ask ... .

TAXES AHOY

What Gummint Do

In a recent tax planning meeting with one of our clients, we shocked them with what their income tax future looked like for 2013 if -- on the off-chance -- Congress continues to do nothing to provide a long-term permanent set of tax laws. [Full] They had no idea what tax breaks were expiring this year and next year, and how much it would cost them personally in extra income tax. But they aren't alone, many Americans and even tax professionals aren't aware that their tax bill could rise dramatically next year. [...] Major Individual Income Tax Benefits Expiring 12/31/2011: • Personal tax credits applied against income tax no longer apply • Higher alternative minimum tax exemptions revert back to extraordinarily-low thresholds • $250 school teacher expense deduction ends • Mortgage insurance premium deduction expires • State and local sales tax deductions expire • Tuition and related fees deduction end • IRA to charity tax-free transfers stop • 2% Social Security tax reduction ends Major Individual Income Tax Benefits Expiring 12/31/2012: • Marriage penalty equalization ends • Dividends taxed at capital gains rates removed, taxed at regular rates now • Capital gains low tax rates expires • Removal of itemized deduction phase out for higher income Americans • Removal of personal exemption phase out for higher income Americans • Child care deduction limit of $3,000 reverts to $2,400 • Child credit reduces from $1,000 per child to $500 per child • Low 10% tax bracket for low income Americans is eliminated • Lower income tax rates and smaller brackets expires • Refundable adoption credit and reduced deduction • American Opportunity college education credit expires • Major reduction in earned income credits and refunds • Income tax exemption for debt forgiven on home foreclosures and repossessions • Deduction for student loan interest ends • Education IRA limit drops from $2,000 to $500 In summary, because of tax laws expiring this year and next, we estimate that the Smiths will owe $3,598 more in income tax in 2013 than in 2011 with no change in their income. All of this says nothing about the massive Obamacare and other new taxes in the pipline.  Do you think this gummint is afraid of us?  Doesn't appear so.

Well of course they are ...

Here kid, try this plastic bag over your head

A BIG FAT, SPOILED BRAT DEPENDENT

It was ever thus.  It's just that our current government is a spoiled brat who views our (always insufficient)  largess as an entitlement.

OUT DAMN TAX

Where Mr. Creosote Eats Us Out of Insolvency

“ In a report released shortly before Thanksgiving, a deficit reduction panel co-chaired by former Republican Senator Pete Domenici and former Clinton budget director Alice Rivlin called for a national penny-per-ounce excise tax on sugary drinks. (That’s 68 cents on a two-liter bottle.) - Your New Tax Code

Oh yeah, the very government asshats who spent us into insolvency will solve it with a series of "temporary refund adjustments."  Decrease gummint spending? What's that, I c'unt hear you. “ Including benefits, the average federal government employee now earns $123,000 annually; double that of their counterparts in the private sector. It should come as no surprise that seven of the 10 richest counties in the nation surround Washington, DC.  Bob Barr notes that even the erstwhile(?) Soviet Union and Cuba are reducing their bloated bureaucracies - but not us.  Oh no.  Gird yourself against an onslaught of taxes that punish  gas, food, entertainment, travel,  and sin guzzlers.  And, how many new IRS agents did Obama just hire? - 10,000 or 100,000?  I forget.  But Rodge, what can we do aside from killing everyone?  Answer: keep doing what we've been doing.  Vote every liberal, progressive, democrat and moderate, whatever they call themselves,  out of office.  Or die broke.

Slice'm, dice'm, kick 'm inna balls

'crats - Let's try this ...

“ The decision by Democratic leaders to skip a vote on extending the Bush tax cuts has led to intense campaign attacks on vulnerable House and Senate Democrats. Sens. Michael Bennet (D-Colo.) and Patty Murray (D-Wash.) are under pressure for opposing GOP amendments that would have extended tax cuts passed in 2001 and 2003 under President George W. Bush. Vulnerable House Democrats such as Reps. Suzanne Kosmas of Florida and Earl Pomeroy of North Dakota have also found themselves on the defensive. Democrats have tried to deflect the issue back at Republicans by accusing them of supporting tax breaks for “millionaires and billionaires.” HILL - After Dem leaders skip vote, Bush tax debate flares on campaign trail That showed guts Patty

Tax Gambit

How Pelosi might save her majority.

“ We recall the Democratic Presidential debate when ABC's Charlie Gibson famously asked candidate Barack Obama why he favored higher capital gains tax rates when the evidence is that lower rates produce more tax revenue. After some back and forth, Mr. Obama's one word reply came down to "fairness." If you really believe the main job of government is to redistribute income and punish the rich for making too much money, then you don't mind raising taxes even if it costs you control of Congress. [Democrat Salvage Plan] ” This, in my opinion, misguided WSJ Editorial notes up front that Pelosi's "idea is to return to Washington in 10 days and start a debate over raising taxes only weeks before Election Day. "  Swim with the fishes Speaker Hankey. Even if Democrats do everything the article suggests [keep Reagan's tax cuts, at least temproarily], it's too late.  To borrow from M. Thatcher, "Democrats don't care how much people suffer,  just so long as the rich suffer as much, or more."

Dems: We Don't Care What You Want

120 Days to Go Until the Largest Tax Hikes in History