Tag: Taxes

Tax Day Comes And Goes

Sorry to be a bummer but I just had to say something.

April 15th was a couple of days ago…..did you go through the agony of preparing your taxes only to learn you owed the government?

Will it be a burden on your finances?

Well do not worry for no one will take up the slack for our ‘saviors’, big business, has gotten a swell deal from the government…..did you?

Dozens of America’s most profitable corporations avoided paying any federal income taxes in 2025, according to an analysis out on Tuesday from the Institute on Taxation and Economic Policy.

The 88 companies—which include Tesla, Southwest Airlines, Live Nation, Palantir, Citigroup, and many others listed in the S&P 500—brought in a collective $105 billion in pretax income last year.

ITEP found that 2025 saw a spike in corporate tax avoidance, enabled in part by new loopholes created by the One Big Beautiful Bill Act signed by President Donald Trump and by his 2017 Tax Cuts and Jobs Act, which reduced the corporate tax rate to 21% from its previous 35%.

The One Big Beautiful Bill Act is expected to hand the wealthiest 1% of Americans $117 billion in tax cuts this year, while those in the bottom 95% are set to pay more in taxes while facing across-the-board cuts to social safety net programs like Medicaid and the Supplemental Nutrition Assistance Program.

It also allowed multimillion- and billion-dollar corporations to find new ways to avoid paying taxes. More than half of the tax-avoiders listed in the report used a provision in the new tax law allowing companies to immediately write off capital investments, reducing their collective taxes by $11.4 billion.

Pharmaceutical and tech companies, meanwhile, were able to take advantage of tax write-offs for research and development, exempting them from approximately another $4.4 billion.

In total, the corporate tax avoidance documented in 2025 by the researchers helped to rob the public coffers of yet another $26.7 billion, enough to give every public school student a free lunch for a year, according to a University of Missouri analysis of the National School Lunch Program.

https://www.alternet.org/big-beautiful-bill-taxes/

I am so proud of this country for making the hard working public pay all the goddamn bills while the robber barons sit on their fat asses smiling like that fat cat from Alice in Wonderland.

I am starting to like this NYC mayor more4 these days……he sees what I see….I wish others did…..

New York City Mayor Zohran Mamdani is using Tax Day to remind Americans that the nation’s tax code is “rigged” to protect the superrich while making the case for a more equitable system.

In a Guardian op-ed co-written with Nobel laureate in economics Joseph Stiglitz and Paris School of Economics professor Gabriel Zucman, New York’s democratic socialist mayor lamented that the world is living with greater wealth inequality than ever before, with just 0.0001% of the global population holding the equivalent of 16% of global wealth—more than the bottom half of humanity.

Mamdani and the economists attributed the global surge in inequality in large part to America’s “regressive” tax system, which has grown dramatically more favorable to the wealthy over the past half-century.

Compared to 1960, when the 400 richest Americans paid roughly half their incomes in taxes, they now pay about 24%—helped by a combination of lower marginal tax rates and loopholes that allow billionaires and corporations to shield their wealth and effectively pay a smaller share of their incomes than everyone else.

https://www.commondreams.org/news/zohran-tax-day

Ain’t capitalism great?

I Read, I Write, You Know

“lego ergo scribo”

More Tariff Stuff

I know I spend a lot of time writing about the tariffs and their effects on this country that is because there is a wealth of misconceptions about these lame economic moves….for one no country pays these tariffs….YOU pay for them every time you go shopping.

With that said…..

Remember when Amazon stated that they would be labeling their products with the cost to the consumer and Donny went batcrap crazy and called Bezos to have the idea squashed and it was?

Personally I thought it was a good idea but Donny does not want you to know how badly you will be getting screwed….but guess what a majority thinks the Amazon idea is a great one….

YouGov released a new poll this week on Americans’ views of President Donald Trump, his handling of the economy, and their optimism for the future. The poll found a whopping 75% of Americans believe that Trump’s tariffs will increase prices, and a strong majority wants those additional costs explained to them on the packaging.

The poll of 1,850 adult U.S. citizens, conducted between May 2nd and 5th, also found that “Majorities of Democrats and Republicans think Trump’s tariffs will lead to price increases. Among Republicans, the share who think tariffs will raise prices ‘a lot’ has increased 8 percentage points in the past two weeks, to 22% from 14%.”

Additionally, 46% of respondents said they believe that Trump’s tariffs “are harmful to the economy and consumers, with no real long-term benefits” – as opposed to 38% who said the tariffs “may cause short-term economic pain, but lead to long-term economic growth.”

But yet there are those that want to idolize Donny and his ignorance and defend these ‘taxes’ on the rest of us.

Donny has waffled on several of his tariffs and what did that achieve?

While the various tariff rollbacks and pauses have been welcomed by businesses, the respite has not removed uncertainty entirely. Brief pauses in tariffs are not sufficient for many companies to make longer-term investment or supply chain decisions.

There are fears that the uncertainty is taking a toll on the US economy. A Bloomberg poll of economists put the chances of a recession next year at almost 50-50, the news agency reported on Monday.

The farmer will most likely get hit hard…..plus could endanger our food supply…..

Specifically, while Trump publicly proclaims that he stands with farmers, his tariff war with China stands to rob producers of their markets.  Since Trump’s last term, China has already been looking to countries like Brazil for soybeans as the US has proven an unreliable partner.  Adding insult to injury, unexpectedly cancelling government contracts with thousands around the country early in his term placed undue stress on farmers who already have to contend with what extreme weather events throw their way.

Now, with the details of the UK-US trade deal becoming known, the signal – that is, the truth – of the Trump administration’s vision for agriculture is coming into view. To the point, not unlike how US agriculture has been directed for the past few decades, it is becoming clear that this administration will prioritize exports. The problem with this vision is that, even if it generates short-term profits, it endangers our long-term national food security by dangerously further internationalizing our agricultural system.

…

Trump’s efforts to undo the previous administration’s policies set up our food system for disruption and crisis, subjecting farmers to the uncertainties of international markets and developments elsewhere. If there is a signal with the noise that Trump is making with our food system, then this is it – farmers better get ready for a volatile next few years and more bailouts, as operations will continue to go under. Overall, Trump’s nationalist rhetoric amounts to little, as our food system becomes more global, increasingly made vulnerable to dynamics outside our control.

https://www.counterpunch.org/2025/05/15/trumps-trade-deals-endanger-farmers-and-our-food-system/

Prices will head up….Walmart has made a statement and the prez has leveled his ire on the company….

President Trump’s tariffs are just “too high,” according to Walmart, which says it will raise prices, including on some food items, in response. Walmart CEO Doug McMillon said Thursday that tariffs on China are pushing up the costs of electronics and toys, while tariffs on Costa Rica, Peru, and Colombia are increasing the costs of some foods, reports CNBC. “The higher tariffs will result in higher prices,” McMillon said on an earnings call, per CNN. “We will do our best to keep our prices as low as possible. But given the magnitude of the tariffs, even at the reduced levels announced this week, we aren’t able to absorb all the pressure given the reality of narrow retail margins.”

Customers should expect price hikes beginning later this month, per CNN. “You’ll begin to see that, likely towards the tail end of this month, and then certainly much more in June,” Walmart CFO John David Rainey tells CNBC. He admits this is “not good for consumers,” per Reuters, but stresses the US is dependent on certain imports, whose prices have climbed dramatically under Trump’s tariffs. “The magnitude and speed at which these prices are coming to us is somewhat unprecedented in history,” he tells the Wall Street Journal. Though Walmart welcomed the recent deal to lower tariffs on Chinese imports from 145% to 30%, it said the remaining level is still “too high,” per CNBC.

Such statements risk Trump’s ire. The White House attacked Amazon’s reported plan to show the added cost of tariffs on some items as a “hostile and political act,” while Trump threatened a 100% tariff on Mattel’s toys after the company announced it would raise prices in response to tariffs last week. Walmart appears confident in its position, however. Of the trade war, Rainey told analysts, “We are equipped to manage this as well or better than other retailers,” per Investing.com. Walmart continues to expect annual sales to climb between 3% and 4% for the fiscal year ending in January, per Reuters.

He be pissed!

Will he threaten Walmart and make them change their tone as he did with Amazon?

You decide.

I Read, I Write, You Know

“lego ergo scribo”

When Did Taxation Begin?

You guys know how much I like history and will take any opportunity to bring it to the forefront.

I apologize this was suppose to be posted on 15 April, the day we file our taxes with the IRS.

We all bitch and moan about paying taxes but the idea of imposing taxes has a very early history…..for now we believe the idea of taxation began in Mesopotamia around 3300BC and has continued until today.

Taxes are a familiar part of modern life, showing up in paychecks, receipts and annual filings. Yet even in our digital era, traces of older systems persist. When archaeologists recently uncovered a 2,000-year-old pyramid-shaped structure in the Judean Desert—believed to be a Ptolemaic tax collector’s post—they weren’t just digging up the past. They were brushing dust off a blueprint of ancient governance.

“Most governments were quite highly motivated to extract as much revenue as possible within perceived political constraints,” says Taisu Zhang, a professor of law at Yale Law School.

What remains today, such as stone inscriptions, clay tablets and bamboo records, tells a story far beyond administration. These tax relics reveal how early states governed, what they valued and how they balanced power with the burden on taxpayers. From Sumer to China, civilizations devised ingenious, and sometimes bizarre, ways to track, collect and enforce taxes, leaving behind vivid clues of how they funded their ambitions—and proved that even in the Bronze Age, nothing was certain but death and taxes.

The clay tablets of ancient Sumer represent some of the earliest examples of economic record-keeping. In the city of Uruk, scribes used reed styluses to press proto-cuneiform symbols into wet clay, documenting grain, livestock and labor owed to temples. Each mark stood for a tangible asset—a bundle of wheat, a head of cattle or a day’s work. By around 2,600 B.C., in the city of Lagash, the system had grown more sophisticated, with some tablets recording instances of tax evasion and penalties for non-payment.

The Standard of Ur, a wooden box inlaid with lapis lazuli, shell and red limestone, offers a striking visual of early resource distribution. One side shows nobles at a feast; the other, soldiers and laborers—an implicit hierarchy supported by the upward flow of goods. Though not a literal tax record, the artifact reflects a redistributive economy likely sustained by tribute or taxation.

https://www.history.com/articles/tax-artifacts

Taxation is nothing new….while it can be a burden to those that are unfortunate to be taxed while others get a free ride (thinking the US wealthy)….they are a needed revenue for any government to continue to ‘serve’ the people they represent.

It would not be such a burden if EVERYONE paid their taxes but unfortunately there are some that do not and that is okay for some.

I hope you made the deadline for the IRS.

I Read, I Write, You Know

“lego ergo scribo”

2024 Issues: Taxes

The election is less than 2 months away and the perfect time to learn about the issues and what your candidate has to say about them….

Financebuzz has broken it down very simply for easy understanding…..

As voters wait on both presidential candidates to unveil more details on their economic agendas, Trump and Harris are calling for tax changes that could impact millions of people in the United States. Both have proposed tax cuts and increases that would require congressional approval.

Trump on tax cuts

It may be no surprise that Trump plans to preserve at least some of the individual and business tax cuts put in place via his TCJA. According to the Trump campaign, those tax cuts benefited millions of Americans and can help the millions of people who are dealing with the impacts of inflation and higher prices.

The campaign said the individual tax cuts and business tax reforms would help spur economic growth and confront higher costs of living without inflationary government spending.

Harris on tax cuts

Though Harris herself may not have directly addressed TCJA extensions so far on the campaign trail, there has been some Democratic support. In fact, President Joe Biden’s top economic advisor voiced support for partial extensions. According to the Tax Foundation, Harris has a record of favoring steeper tax hikes on businesses and people than President Biden.

Harris on tax increases

Trump and Harris have both said they will address the budget deficit. They have both proposed plans to raise revenue. Again, keep in mind tax law changes require approval by Congress.

According to the Harris campaign, she will push to increase the corporate tax rate to 28%, up from the 21% put in place through the TCJA. That could potentially reduce the deficit by $1.3 trillion over a decade, according to the Treasury Department.

She also proposes to raise taxes on high-income people, raising the top marginal income rate to 39.6% from 37%. She also proposes taxing investment gains of $1 million or more at the ordinary income rate instead of the lower capital gains rate.

Trump on tax increases

In a pitch that seems to find great support from his base, Trump has called for sweeping tariffs, which are taxes levied on imported goods. Further, the former president suggested he’s looking at putting in place a policy of tariffs that would lead to the elimination of the federal income tax.

Trump on tip taxes

The Trump and Harris campaigns have both talked about the idea of eliminating income tax on tip income. Trump made the proposal well before Harris. In fact, his pitch drew a mixed reaction.

The former president has also called for no taxes on Social Security income. Social Security has been a hot issue this election season amid fears of the finances for the program and related ones.

Harris on tip taxes

In a more recent move, Harris also talked about the idea of eliminating taxes on tip income. She said it’s part of her commitment to fight for working families, which she said also includes a plan to raise the minimum wage.

I do not see where either candidate will improve low income workers’ lives.

Former President Donald Trump wants to increase tariffs, while his Democratic opponent, Vice President Kamala Harris, wants to raise the corporate income tax rate. They say you need not worry about the consequences of these tax hikes because someone else will pay the tab.

Don’t believe them. Both proposals would impair economic growth and impose substantial costs on ordinary Americans, extending far beyond the advertised targets.

Trump and Harris Both Favor Tax Hikes That Would Hurt Ordinary Americans

Vote for the best person to improve your life not the one that feeds your petty biases.

I Read, I Write, You Know

“lego ergo scribo”

Closing thought–15Apr24

Today is tax day….get your paperwork in or pay the penalty….what better day to inform my readers about where some of their tax dollars go.

I bitch about the massive amount of money thrown at the War Department….well I do this for good reason….as you will soon realize….

The average U.S. taxpayer was forced to contribute more to militarized programs than to Medicare and Medicaid combined in 2023, according to a new analysis released Tuesday by the National Priorities Project.

Published ahead of Tax Day, the analysis sheds light on the extent to which the federal income tax dollars of ordinary Americans are fueling “militarism and its support systems” such as the Pentagon, which currently accounts for roughly half of the federal government’s total discretionary budget.

“Overall, in 2023, the average taxpayer contributed $5,109 for militarism and its support systems—including war and the Pentagon, veterans’ programs, deportations and border militarization, and federal spending on policing and prisons,” according to NPP, which is a project of the Institute for Policy Studies.

By comparison, the typical U.S. taxpayer contributed $4,308 to Medicare and Medicaid, $346 to K-12 education, $516 to nutrition assistance for low-income Americans, and $58 to diplomacy-related programs.

“Right now, millions of Americans are struggling to stay afloat—it’s become so expensive to live, eat, and have a home. Yet, instead of addressing the cost-of-living crisis or funding measures to address our communities’ needs, this year $5,109 of the average American’s taxpayer dollars went to fund the military and its support systems,” said Alliyah Lusuegro, NPP’s outreach coordinator and a co-author of the new analysis.

https://www.commondreams.org/news/us-taxpayers-funding-militarism

The Pentagon gets a budget that is pushing one trillion dollars and programs to help the American people scrambles for the crumbs that Congress gives them.

I wish the American people cared where their money goes….instead they fall for every lie the government tells them that is in their best interest….that is such bullsh*t!

This country always has enough money to piss away on some new weapon system but little to nothing for hungry children….why is that?

But I will keep bitching and complaining for it is what I do.

I Read, I Write, You Know

“lego ergo scribo”

Closing Thought–09Jan24

Do you pay your taxes?

Of course you…..but there are some that get a free ride on their taxes…..

An analysis released Wednesday shows that in 2022, the wealthiest people in the United States collectively held a “staggering” $8.5 trillion in wealth that is not—and might never be—subject to taxation.

Examining recently released data Federal Reserve data for 2022, Americans for Tax Fairness (ATF) found that the roughly 64,000 U.S. households with at least $100 million in wealth—less than 0.05% of the population—controlled more than one in every six dollars of the country’s “unrealized gains,” profits that aren’t taxable until the underlying asset, such as a stock position, is sold.

“But the ultra-wealthy don’t need to sell to benefit: They can live off low-cost loans secured against their growing fortunes. And once inherited, such gains disappear completely for tax purposes,” ATF’s Zachary Tashman and William Rice explained in the new analysis. “While most Americans predominantly live off the income they earn from a job—income that is taxed all year, every year—the very richest households live lavishly off capital gains that may never be taxed.”

That small, ultra-rich fraction of U.S. society is sitting on more unrealized capital gains than the bottom 84% of the country—roughly 110 million households—combined, Tashman and Rice noted.

Most of the typical U.S. household’s unrealized capital gains are in the form of their homes, which face state and local property taxes. But 93% of the unrealized gains of America’s wealthiest are tied up in businesses, stock portfolios, and mutual funds, ATF found. As a result, mega-rich individuals such as Tesla CEO Elon Musk—the wealthiest man on the planet—wind up paying little to nothing in federal income taxes.

https://www.commondreams.org/news/rich-untaxed-wealth

This country has a debt of $34 trillion….

In September, the United States broke its national debt record, reaching $33 trillion. Now, just three months later, a new record has been set. CNN Business notes that, per year-end figures released by the Treasury Department last month, our government’s debt shot up to $34.001 trillion on Dec. 29, which Maya MacGuineas, head of the watchdog group Committee for a Responsible Federal Budget, calls “a truly depressing ‘achievement.'” She adds in a Tuesday statement: “Though our level of debt is dangerous for both our economy and for national security, America just cannot stop borrowing.”

Here is a couple ideas…..stop funding every goddam war on the planet…..tax the bastards that are escaping their debt to the country and find and return all the offshore cash these rich bastards have squirreled away.

So yeah I am all for a ‘billionaire tax’.

I Read, I Write, You Know

“lego ergo scribo”

Fair Tax Act Of 2023

This post is for all who have no idea what the ‘Act’ is all about….those that spend all their time on TicTac or Twatter….or are more concerned with what new song some skinny blonde porks out or what celeb was wearing a sheer dress….the Act will effect all of us mere mortals and you should be aware before you start some dialog with little knowledge.

First of all….what is the Fair Tax Act of 2023?

This bill imposes a national sales tax on the use or consumption in the United States of taxable property or services in lieu of the current income taxes, payroll taxes, and estate and gift taxes. The rate of the sales tax will be 23% in 2025, with adjustments to the rate in subsequent years. There are exemptions from the tax for used and intangible property; for property or services purchased for business, export, or investment purposes; and for state government functions.

Under the bill, family members who are lawful U.S. residents receive a monthly sales tax rebate (Family Consumption Allowance) based upon criteria related to family size and poverty guidelines.

The states have the responsibility for administering, collecting, and remitting the sales tax to the Treasury.

Tax revenues are to be allocated among (1) the general revenue, (2) the old-age and survivors insurance trust fund, (3) the disability insurance trust fund, (4) the hospital insurance trust fund, and (5) the federal supplementary medical insurance trust fund.

No funding is authorized for the operations of the Internal Revenue Service after FY2027.

Finally, the bill terminates the national sales tax if the Sixteenth Amendment to the Constitution (authorizing an income tax) is not repealed within seven years after the enactment of this bill.

https://www.congress.gov/bill/118th-congress/house-bill/25

Now a break down how this act would work and effect you…..

Imagine this: Instead of paying federal taxes to the IRS, you pay them to your local cafe every time you buy a latte or to your supermarket when you make a grocery run — or to countless other businesses when you make purchases.

That’s a future proponents of the Fair Tax Act would like to see. The idea of implementing a national sales tax in lieu of our current federal tax apparatus is once again gaining steam after Rep. Buddy Carter (R. Ga.) introduced the bill to the House of Representatives earlier this month, and House Speaker Kevin McCarthy has agreed to bring the bill to a vote.

“This bill will eliminate the need for the [IRS] entirely by simplifying the tax code with provisions that work for the American people and encourage growth and innovation,” Carter said in an announcement.

The Fair Tax Act is unlikely to become law due to opposition from Democrats, and President Joe Biden has already said that he will veto the bill if it does manage to pass both the House and the Senate.

Still, the proposal has many wondering what a national sales tax or “fair tax” would look like.

https://money.com/fair-tax-act-national-sales-tax/

I love it when we are told that it is for us that this type of screwing is pointed to….but in reality it is aimed for the rich to pay less taxes than they pay now (and some pay no tax at all)

DO NOT BUY the hype…none of this is for you.

Be Smart!

Learn Stuff!

I Read, I Write, You Know

“lego ergo scribo”

Defense Firms Whine

The purveyors of destruction are whining about the possibility they will be paying their taxes….

Defense companies are warning investors they could owe billions of dollars in additional taxes this April unless Congress repeals or defers a law that would tax research and development expenses.

Some say it will discourage American companies from making research-and-development investments at a time when the U.S. is increasingly competing with China both militarily and commercially.

“We firmly believe, and everybody we talk to in Washington understands, it is bad public policy,” Raytheon Technologies CEO Greg Hayes said Wednesday at a Barclays investment conference. “It discourages investment in innovation.”

Companies have been able to write off R&D expenses since 1954, but the 2017 Tax Cuts and Jobs Act requires companies to begin claiming R&D expenses on their taxes. The annual claims must be spread over a five-year period beginning in 2021. 

“The requirement for companies to capitalize and amortize R&D expenses amounts to a significant tax increase, which will negatively impact innovation,” the National Defense Industrial Association, a trade group that represents more than 1,500 large and small firms, said in a recent assessment of the defense industry.

https://www.nextgov.com/cio-briefing/2022/02/defense-firms-brace-billions-dollars-new-taxes-and-hope-congressional-relief/362494/

Seriously?

Since 9/11 the defense industry has generated $7.35 trillion in revenue.

Gone are the days when most of the defense budget was spent directly on soldiers. Since 9/11, war has become “modernized” — which means it’s fought with extremely expensive weapons bought from highly profitable private-sector companies.

Then there are those attractive packages for the industry’s CEOs…..

A Project On Government Oversight analysis of executive compensation at the top five Pentagon contractors – Lockheed Martin, Boeing, General Dynamics, Northrop Grumman, and Raytheon – found that the average compensation package of a CEO at one of these firms was approximately $21.5 million last year, according to the firms’ Securities and Exchange Commission filings. Total compensation is the sum of base salary, bonuses, stock awards, option awards, incentive compensation, deferred compensation (including changes in pension value), and all other compensation.

Sorry for the wandering diatribe but my point is that the taxpayer is basically subsidizing these packages…..

A Project On Government Oversight analysis of executive compensation at the top five Pentagon contractors – Lockheed Martin, Boeing, General Dynamics, Northrop Grumman, and Raytheon – found that the average compensation package of a CEO at one of these firms was approximately $21.5 million last year, according to the firms’ Securities and Exchange Commission filings. Total compensation is the sum of base salary, bonuses, stock awards, option awards, incentive compensation, deferred compensation (including changes in pension value), and all other compensation.

Publicly held U.S. corporations, ranked by DoD contracts CEO pay, 2020 Pentagon contracts, 2020
LOCKHEED MARTIN $23,360,369 $75,212,351,608
RAYTHEON TECHNOLOGIES $19,407,572 $27,405,894,269
GENERAL DYNAMICS $19,328,499 $21,842,409,577
BOEING $21,074,052 $21,737,405,195
NORTHROP GRUMMAN $20,807,144 $12,334,259,578
HUNTINGTON INGALLS INDUSTRIES $6,440,417 $7,786,450,023
HUMANA $16,489,639 $6,922,421,962
L3HARRIS TECHNOLOGIES $15,452,653 $6,165,347,736
GENERAL ELECTRIC $73,192,032 $4,408,978,372
LEIDOS HOLDINGS $12,319,624 $3,127,617,234
CENTENE $24,956,777 $3,108,731,869
MCKESSON $15,435,470 $2,847,873,788
OSHKOSH $8,106,122 $2,497,907,347
SAIC $6,936,702 $2,379,197,494
FLUOR $11,236,632 $2,320,386,199
BOOZ ALLEN HAMILTON $8,095,433 $2,308,782,906
AMERISOURCEBERGEN $14,295,140 $2,143,834,610
AECOM $9,320,888 $1,971,579,509
TEXTRON $17,770,781 $1,964,808,269
KBR $9,864,381 $1,963,741,418
TOTAL $353,890,327 $210,449,978,961
AVERAGE

My point is if they can find the cash to pay these CEOs millions then they can find the  cash to pay their damn taxes….I have to then they should also.

CEO pay is obscene…..Taxpayers should not have to subsidize sky-high compensation levels for military contractor CEOs that perpetuate the profit motive for war.

When will enough be enough?

I Read, I Write, You Know

“lego ergo scribo”

Biden and Taxes

November is quickly approaching and some of us have not decided who will get the vote…..I will focus on Biden since most intelligent people already know what a tool Trump is…..

First let me state here for all to read so there is NO confusion…I am not a Biden supporter…..but that explanation is for a later post…..this one is about something Biden has stated recently on taxes….

Joe Biden wants a tax code that supports the everyday, salt-of-the-earth Americans who earn $400,000 a year.

In an interview with CNBC Friday morning, the Democratic nominee sounded some populist notes while defending his (quite progressive) ideas for raising taxes on capital gains, corporations, and the labor income of the superrich. “My tax policy is based on a simple proposition,” Biden explained, “which is, stop rewarding wealth and start rewarding work a little bit.”

But while blue America’s standard-bearer evinced enthusiasm for soaking the superrich, he vowed to preserve the (historically low) tax rates that America’s merely rich currently pay: Under a Biden administration, “Nobody making under 400,000 bucks would have their taxes raised. Period. Bingo,” the candidate declared.

https://nymag.com/intelligencer/2020/05/biden-cnbc-interview-tax-policy-400000.html

This is nothing but a campaign promise that is soon forgotten….but he and they keep making them and the voter keeps buying the crap spread…..and then they sit around the kitchen table looking at their lives a wonders what went all wrong.

Ignorance, gullibility and laziness is what went wrong….and this election will be NO different.

Learn Stuff!

“lego ergo scribo”

Shay’s Rebellion–Revisited

These days with the mental midgets showing up at state capitals and demanding the right to infect themselves and others with the Covid-19 I thought back to the young days of our republic…..

The year was 1786 and the memories of the Revolutionary War were still fresh in most minds…..the country tried to raise revenue by some taxes and of course then as now people were outraged that they should have to pay for anything…..

But for those that have a hard time remembering what they were taught in school…..this is important for it was the first time that the new American government had to flex its muscle….

A note here that most used statement by Jefferson about the tree of liberty came about because of this incident.

Shays’ Rebellion was a series of violent protests staged during 1786 and 1787 by a group of American farmers who objected to the way state and local tax collections were being enforced. While skirmishes broke out from New Hampshire to South Carolina, the most serious acts of the rebellion occurred in rural Massachusetts, where years of poor harvests, depressed commodity prices, and high taxes had left farmers facing the loss of their farms or even imprisonment. The rebellion is named for its leader, Revolutionary War veteran Daniel Shays of Massachusetts.

Although it never posed a serious threat to the still loosely organized post-war United States federal government, Shays’ Rebellion drew lawmakers’ attention to serious weaknesses in the Articles of Confederation and was frequently cited in the debates leading to the framing and ratification of the Constitution.

The threat posed by Shays’ Rebellion helped persuade retired General George Washington to reenter public service, leading to his two terms as the first President of the United States.

In a letter regarding Shays’ Rebellion to U.S. Representative William Stephens Smith dated November 13, 1787, Founding Father Thomas Jefferson famously argued that an occasional rebellion is an essential part of liberty:

“The tree of liberty must be refreshed from time to time with the blood of patriots and tyrants. It is its natural manure.”

https://www.thoughtco.com/shays-rebellion-causes-effects-4158282

I believe that this incident and few others were the reason for the inclusion of the 2nd amendment to the Bill of Rights…..

Learn Stuff!

I Read, I Write, You Know

“lego ergo scribo