Category Archives: Taxes

Biden’s Gun Control Plan Would Cost Gun Owners $34 Billion In Taxes, by Tyler Durden

There is no way that Joe Biden’s gun control plans would pass muster with the Supreme Court, but if by some travesty they did, they would be quite costly and a serious impediment to gun ownership. From Joseph Jankowski at planetfreewill.com:

With 20 million rifles and 150 million magazines to fall under the NFA with Biden’s plan, the amount of taxes paid by American gun owners would equate to $34 billion dollars.

Image Credit: Keary O/Flickr

Under Joe Biden’s proposed gun control plan, American gun owners would cough up tens of billions dollars in taxes as millions of rifles and magazines now in their possession would be subject to a tax under the National Firearms Act.

The center piece of Biden’s gun plan is to place a ban on the manufacture and sale of “assault weapons,” while bringing the regulation of possession of such firearms under the 1934 National Firearms Act.

Currently, the NFA of 1934 applies to fully automatics firearms, silencers and short-barreled rifles. But Biden would drag “assault weapons”, meaning semiautomatic rifles, pistols and shotguns (think the AR-15) along with “high capacity magazines”, which have generally been understood to be magazines that carry more than 10 rounds, under the act.

According to a National Shooting Sports Foundation report on firearm production figures, Americans in total own at least 20 million rifles and 150 million ammunition magazines that would be subject to the NFA regulations if Biden’s plan were put in place.

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Doug Casey on the COVID Thanksgiving Restrictions and the “Great Reset”

It’s pretty clear that we’re heading toward a totalitarianism that’s even more total than what we have now. From Doug Casey at internationalman.com:

COVID Thanksgiving

International Man: Thanksgiving and the holiday season are here. The COVID hysteria has justified a new wave of government restrictions.

Many governors and mayors are ordering citizens to “stay at home” and cancel their traditional plans.

Is this a “new normal” in which local officials feel emboldened to dictate more and more of what people can do in their own homes?

Doug Casey: There’s not much question about it. First, let me draw your attention to an important fundamental: the type of people who go into government. It doesn’t matter if it’s national, state, county, or city government.

They’re the kind of people who think they know what’s best for others and like bossing them around. They see the virus as a great opportunity to make themselves important and to cement themselves in power. They want to deconstruct America. The phrase “build back better” is being used not just by people in the new Biden regime but by people all over the world.

These people see the COVID hysteria as an excuse for a “Great Reset.” They don’t describe exactly what the elements of the Great Reset might be, but they’re hitting the same notes sung by the people that go to the World Economic Forum in Davos. They’re promoting a great change in the world at large and America in particular.

It appears the world is ready for it; however, it’s for the same reasons that Biden won the election. I listed six factors why I thought Biden would win in our interview a couple of months ago: the virus hysteria, a pending economic collapse, negative demographics, the moral collapse of the old order, and the Deep State, and, of course, cheating—which was critical in the short term. There’s no question that stormy times are ahead.

We’re headed for a great leap forward—to borrow a phrase from Mao—in State power. Much higher taxes, much higher inflation, much more regulation, a big drop in the general standard of living, and a fair measure of social chaos.

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The Greatest Swindle in American History… And How They’ll Try It Again Soon, by Jeff Thomas

The inevitability of paying taxes has often been noted. Not so noted is another inevitability: no government ever thinks it’s collecting enough taxes. From Jeff Thomas at internationalman.com:

property taxes

International Man: Before 1913 there was no income tax, and the United States was a much freer country. Initially, the government sold the federal income tax to the American people as something only the rich would have to pay.

Jeff Thomas: Yes, exactly. It always begins this way. The average person is always happy to see the rich taken down a peg, so this makes the introduction of the concept of theft by the government more palatable. Once people have gotten used to the concept and accept it as being perfectly reasonable, then it’s time to begin to drop the bar as to who “the rich” are. Ultimately, the middle class are always the real target.

International Man: The top bracket in 1913 kicked in at $500,000 (equivalent to around $12 million today), and the tax rate for it was only 7%. The government taxed those making up to $20,000 (equivalent to around $475,000 today) at only 1% – that’s one percent.

Jeff Thomas: Any good politician understands that you begin with the thin end of the wedge, then expand upon that as soon as you feel you can get away with it. The speed at which the tax rises is commensurate with the level of tolerance of the people. And in different eras, the same nation may have a different mindset. The more domination a people have come to accept from their government, the faster the pillaging can be expanded.

As an example, the Stamp Tax that King George III placed upon the American colonies in the eighteenth century was very small indeed – less than two percent – but the colonists were very independent people, asking little from the king in the way of assistance, and instead, relying upon themselves for their well-being. Such self-reliant people tend to be very touchy as regards confiscations by governments, and even two percent was more than they would tolerate.

By comparison, if today, say, Texas were to eliminate all state taxation and allow only two percent in federal taxation, Washington would come down on them like a ton of bricks, saying they were attempting to become a “tax haven.” They’d be accused of money laundering and aiding terrorism and might well be cut out of the SWIFT system. The federal government would shut down the state government if necessary, but diminished tax would not be tolerated.

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The Autocratic Future of the United States? by Guy Millière

The Democrats have been quite clear: elect Democrats and they’ll change the rules of the games so that they’ll never lose power. From Guy Millière at gatestoneinstitute.org:

  • If institutions of democracy — the state, the judiciary, opposition parties and the free press — suppress verifiable information instead of informing the public about it — as has just taken place for more than two weeks regarding alleged financial corruption and the possible resultant compromise — by China, Russia, and Ukraine among other countries — of an allegedly financially compromised family as possible a national security threat — these institutions of democracy instead become vehicles to sabotage a democracy.
  • A danger to American democracy in the past years — with threats to undo the Constitution by, for example, abolishing the electoral college, banning guns and, in 2014, eliminating free speech — has therefore become imminent.
  • There has been talk about killing the filibuster, to pass just about anything with a simple majority, and talk about enlarging the Senate by adding more states, presumably to enable one side to hold a permanent majority. Also on the agenda has been adding more members to the Supreme Court to turn it into a branch of legislative government, eliminating America’s historic system of checks and balances. There are also plans to raise taxes on everyone (remember, “You can keep your healthcare”?), abolish fossil fuels and fracking, and establish a Marxist-socialist economy of redistribution to replace a free economy.
(Image source: iStock)

There seems to have been an attempt for the last four years to instill among the population a hatred of America and of the president, to present them both as a criminal and to try to overthrow them. In any event, it is the first time in American history that there has been an attempted coup d’état against a duly elected president.

If institutions of democracy — the state, the judiciary, opposition parties and the free press — suppress verifiable information instead of informing the public about it — as has just taken place for more than two weeks regarding alleged financial corruption and the possible resultant compromise — by China, Russia, and Ukraine among other countries — of an allegedly financially compromised family as possible a national security threat — these institutions of democracy instead become vehicles to sabotage a democracy.

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The Home School You Pay For . . . Twice? by Eric Peters

Schools are closed but the property taxes with which you pay for them keep right on going. From Eric Peters at ericpetersautos.com:

The fomented mass hysteria over WuFlu has cost us more – in terms of basic liberties – than the German Nazis and Soviet Russians ever managed to, combined – over the course of a World War and a Cold War that, together, spanned more than half a century. It has also cost us more in money – including the double-tax of being forced to hand over money for “the schools” and then forced to use our home as a school – without so much as a pro rata discount on the taxes we’re still forced to pay for “the schools” we aren’t allowed to use.

A reader sends in the following:

Lately, I’m concerned that our property rights are being infringed upon by educators restricting areas inside homes to do their “educating. Some require exclusion of some or all other activities that can take place in the space. If my child is educated in a room of my house that I can’t use during some hours, then the school system needs to cut me a check for using my real estate. There seems to be no end to how much of the “village” we have to let into our homes because of WuFlu. It is creepy that my home would become a digital playground for leftist-educators to inventory, monitor, make adjustments to and virtually own it for themselves during these sessions. If the state wants to rent space in my house to indoctrinate my child, then I certainly want to pay less in taxes or have some other kind of representation or consideration.

Indeed. And of a piece with being mulcted to pay for the retirement of people you never met at the cost of your own retirement security and then mulcted again on the meager pittance remitted when  – if – you ever manage to retire yourself.

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This Is How A State Goes Bankrupt, Illinois Edition, by John Rubino

Politicians have been buying votes with pension promises to government employees for decades. Now, in Illinois and other states, the bill is coming due. From John Rubino at dollarcollapse.com:

Somewhere back in the depths of the 20th century, a bunch of governors, mayors, and public sector union leaders got together and cooked up one of history’s greatest financial scams. They would offer teachers, cops, and firefighters extremely generous pensions but would avoid raising taxes to fund the resulting future obligations. Grateful workers would vote to re-elect their benefactors, while taxpayers would appreciate the combination of excellent public services and low taxes.

The beauty of the scheme flowed from its demographics: Most of the original public sector workers were young and therefore decades away from retirement, so the crime wouldn’t be discovered until long after the architects retired rich and revered.

Now, however, those baby boomer workers are retiring and the scam is revealed for all to see. Even in the absence of a pandemic lockdown, mass defaults on state and city obligations would be inevitable in the coming decade. But with the lockdown, they’re coming next year.

So what do the worst offenders do? What they’ve always done, of course, which is to look for ways to paper over the mess for one more election cycle. Illinois is the poster child for state financial mismanagement, with unfunded liabilities that have grown from virtually nothing to $137 billion in just the past two decades.

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The Corruptocracy, by Robert Gore

Most political philosophy is just an elaborate justification for theft and fraud.

What’s called the silent majority is really the ignored majority, who for the most part are happy being ignored. Their lives revolve their families, jobs, friends, and community, not the media, publicity, polls, or politics. They’re sick of elections well before they’ve seen their hundredth campaign ad, received their hundredth mailer, or ignored their hundredth telephone call. They know that politicians are phony and corrupt and make jokes about them, but hope that their rulers don’t screw things up too badly, cross their fingers, and vote for the perceived lesser of two evils.

There’s a shortage of blue-ribbon pedigrees, Ivy League degrees, and gold-plated resumés among the ignored majority, but a surfeit of hard-knocks wisdom and common sense. Benjamin Franklin said, “Experience keeps a dear school, but fools will learn in no other.” Everybody does foolish things, but by and large, the ignored majority learns from the dear school and puts its lessons to good use.

The gilded class denigrates those outside it: Hillary Clinton deploring the “deplorables,” Barack Obama saying working-class voters, “cling to guns or religion,” and Obama telling entrepreneurs, “you didn’t build that.” Yet, it consistently, almost invariably, demonstrates a complete lack of the common-sense street smarts found in abundance among those it disparages.

The quotes’ condescending arrogance rankles, but at a deeper level illustrate the real division in American politics—between the productive class and those it supports. At the intellectual level it’s the irreconcilable difference between those who believe that value can and should be conferred by the government, and those who know it must be created and produced. It’s believing or not believing that something can be had for nothing.

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Freeloaders’ delusion stems from psychology, not ignorance. Every human faces a choice. They can produce value or they can beg, borrow, defraud, or steal it from someone else. For every advance humanity has made, there’s always been someone claiming their unfair share. Most of what we call history is merely an account of who’s stealing or defrauding from whom.

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Libertarian Voters Flock To Trump After Learning He Avoided Paying Taxes

From the Babylon Bee:

U.S.—Trump is polling high among an unexpected group: libertarians, who were energized and drawn to Trump’s cause after the New York Times revealed that he paid as little as $750 in federal taxes some years.

“Only paying a few hundred in federal theft? This guy is my hero!” said libertarian man Murray Mickelson of New Hampshire. “If only all of us could be that smart with our taxes.”

“The less theft, the better!”

Libertarians across the country paid tribute to Trump’s accomplishment by firing their AR-15s into the air and doing hard drugs, though this is what they were already planning on doing anyway.

Jo Jorgenson’s poll numbers have plummeted as a result of the revelation, with both of her supporters saying they’re switching to Trump.

https://babylonbee.com/news/trump-approval-rating-skyrockets-after-revelation-he-avoided-paying-taxes

Living Red Barchetta, by Eric Peters

To make electric cars more “competitive” in the marketplace, the government will just petroleum powered cars prohibitively expensive. From Eric Peters at ericpetersautos.com:

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California’s Gesundheitsguv Gavin Newsome just decreed what the rock band Rush foresaw coming back in 1981.

The Motor Law.

The song described a future time in which all cars were outlawed. Newsome just outlawed the sale of cars that aren’t electric by 2035, which is much closer to now than ’81 is the rearview.   

And which amounts to the same thing.

Newsome didn’t decree that people in California who do not buy electric cars will be forced to turn in their non-electric ones after 2035.

They probably won’t be forced to turn them in.

It’s much easier to tax them in.

As in China – the model for what the United States is becoming, courtesy of the China Virus, as the Orange Man styles it (while not doing enough to treat it – as by ending the Face Diaper Farce, by taking off the Face Diaper, especially around corpses secured inside coffins).

In China, you don’t have to buy an electric car. But you do have to buy a $14,000 license plate if you want to legally drive a non-electric car. This sum approximates the price difference between a low-end EV and low-end IC.

In the U.S., the analog would be the difference between the 2020 Nissan Leaf EV (appx. $30k) vs. the 2020 Nissan Versa IC (appx. $15k). A $14k license plate tax applied t the Versa would makes it equivalently expensive. And thus make the Leaf “competitive” – in the manner of breaking a marathon runner’s legs so that a paraplegic can be competitive with him in a foot race.

The license plate tax applied to not-new cars would cut deeper.

Imagine having to cough up $14k – or even $4k – to register your ten-year-old non-electric car that’s only worth $10k (or $4k). And worth even less, actually, because who will want to buy your used IC car knowing they’ll have to spend an additional 50 percent or even more to get a license plate for it?

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The Great Conservative Migration And What It Means For The Future, by Brandon Smith

Conservatives are leaving the liberal bastions in droves. From Brandon Smith at alt-market.com:

The signs really began to become visible at the end of January, 2020; there was an exodus of people brewing, and it was galvanizing fears on both sides of the political spectrum. The pandemic situation is cited by the mainstream media as the primary cause, but in reality the migration had started at least 3 years earlier. Americans were leaving certain states and cities behind by the tens of thousands, and these places were predominantly leftist in their policies and population. California, New York, Illinois, New Jersey, Maryland, Massachusetts, Connecticut, etc.; all of these progressive states were bleeding residents since 2017, the pandemic just accelerated the situation.

There are a number of reasons given for the dramatic shift in population, but two specific reasons stand above the rest: Economy and political ideals. The pandemic itself is only a minor motivator. Consider the fact that residents of California left the state in droves for Texas over the summer DESPITE the problem of Covid infection spikes in major metropolitan areas of the Lone Star State. People didn’t care, they just wanted to get the hell out of California as quickly as possible.

Again, a main reason given by former Californians was politics. They are conservatives or moderates that felt isolated or trapped in a far-left cesspool and they realized their future life prospects depended on them transplanting to a more free and less bureaucratic place.

The fear among conservatives was that the pandemic would smoke leftists out of their hives and that they would spread to more conservative areas and “take over”. This does not seem to be the case. In fact, it appears that most leftists are stubbornly refusing to acknowledge that their states are dying and are actively defending state policies on the web. Check out the angry and delusional comments from California progressives on this opinion article in Arizona telling them to leave their failed policies behind if they move to the state.

These people are suffering from some serious saltiness, and the fact they they are still trying to claim that states like California are economically stable shows how truly delusional they are. Conservative states have nothing to worry about – The lefties are too dumb to relocate. They’re going to sit within the rotting corpses of the states they killed and pretend it smells like roses. This is what they do; when they are wrong or when they have failed they double and triple down. It’s their defining characteristic.

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