MCViewPoint

Opinion from a Libertarian ViewPoint

Posts Tagged ‘IRS’

5 Ways a Wealth Tax Is At Least as Bad as an Income Tax | Mises Wire

Posted by M. C. Fox on December 2, 2018

https://mises.org/wire/5-ways-wealth-tax-least-bad-income-tax

There has been an increasing push for wealth taxes as of late. Supporters for new and larger wealth taxes contend that as the population ages, there won’t be enough wage earners to fund the public purse. In other words, there will be less wage-based income to tax as time goes on. But there will still be plenty of pensioners to pay for. As The Guardian noted back in March, new revenue sources will be needed “as the number of people over 65 grows by almost a third, while the working age population is expected to only increase by about 2%.”

Thus, The Guardian concludes: “the time has come to make the case for greater wealth taxes, given our emerging economic realities, demographic shifts and growing levels of inequality.”

But taking a further look into the issue, and applying some common sense logic, it becomes clear a wealth tax brings with it a host of problems.  Many of these problems are reminiscent of the problems we already encounter with a wealth tax. But some are new:

One: The Audits

Read the rest of this entry »

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More and More of What We Do Depends on Government Permission

Posted by M. C. Fox on July 24, 2018

What government is all about. Being in control of your life.

Take a right or freedom away, make you pass test, pay a “fee” (tax), and maybe you get what was already yours back.

In Erie PA don’t think about setting tables and chairs on the sidewalk outside your business without approval and paying for a permit. Your kid can’t sell lemonade in the front yard, a restaurant can’t BBQ ribs on an outside grill. Against the rules comrade. There is great grilled rib place just over the Ohio border. Business there is good.

https://reason.com/archives/2018/07/24/permitted-lives/

Do you have permit for that? If you want to keep that permit, you’d better do as you’re told.

Increasingly, that’s the theme of modern America. More and more of what we do is dependent on permission from the government. That permission, unsurprisingly, is contingent on keeping government officials happy. Rub those officials the wrong way and they’ll strip you of permission to travel the roads, leave the country, or even make a living.

That’s not a recipe for a free country. Read the rest of this entry »

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IRS and Income Tax Day

Posted by M. C. Fox on April 14, 2018

How much of your money is the government allowing you to keep this year?

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How the IRS Will Target Bitcoin Users | The Nestmann Group

Posted by M. C. Fox on January 3, 2018

My recollection is Bitcoin’s initial drawing card was as a way to avoid government tracking of purchases. No more. It is now just a speculative commodity. 

The plot has been lost.

https://www.nestmann.com/how-the-irs-will-target-bitcoin-users

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Project: FEDcoin – Fight Going Cashless Like Your Life Depends On It Because It Does.

Posted by M. C. Fox on May 6, 2017

https://www.caseyresearch.com/cs/project-fedcoin-short?utm_source=taboola&utm_campaign=tq2rx-2&utm_medium=referral

The Dangers of Digital Money

Doug, this sounds like a real benefit…

It’s very dangerous.

Without cash, you have no privacy. If you have to put everything through a bank account, the government knows exactly what you’re buying, what you’re selling, how much you are earning. They’re in complete control; able to take what they want out of it including your entire account if you become politically undesirable…

There is no reason to trust a digital, computerized economy as the National Bank of Bangladesh found out not very long ago. They had $81 million deposited with the New York Fed. The New York Fed was hacked and the National Bank of Bangladesh lost $81 million. Have they gotten it back? No. Will they get it back? No.

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What the IRS Plans to Do in Case of a Nuclear War Will Leave You in Stitches | Ready Nutrition

Posted by M. C. Fox on May 3, 2017

http://readynutrition.com/resources/what-the-irs-plans-to-do-in-case-of-a-nuclear-war-will-leave-you-in-stitches_02052017/

Your government will always be there for you…no matter what.

Sound outlandish? It is, but don’t tell that to the IRS. It turns out that since the Cold War, the Internal Revenue Service has established plans for how their bureaucracy would operate after a nuclear war. Their contingency plans are published in their employee handbooks, which the New York Times reported on back in 1989. Read the rest of this entry »

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Taxation Is Theft

Posted by M. C. Fox on April 19, 2017

https://www.lewrockwell.com/2017/04/tyler-durden/taxation-is-theft-2/

But it gets worse, as Andrew Napolitano writes via The Mises Institute; with a tax code that exceeds 72,000 pages in length and consumes more than six billion person hours per year to determine taxpayers’ taxable income, with an IRS that has become a feared law unto itself, and with a government that continues to extract more wealth from every taxpaying American every year, is it any wonder that April 15th is a day of dread in America?

Here’s an example you’ve heard before. You’re sitting at home at night, and there’s a knock at the door. You open the door, and a guy with a gun pointed at you says: “Give me your money. I want to give it away to the less fortunate.” You think he’s dangerous and crazy, so you call the police. Then you find out he is the police, there to collect your taxes.

Read the rest of this entry »

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Do Not Trust Governments or Their Employees | Armstrong Economics

Posted by M. C. Fox on January 14, 2017

https://www.armstrongeconomics.com/international-news/rule-of-law/do-not-trust-governments-or-their-employees/

In case you hadn’t noticed:

There is absolutely NO RULE OF LAW whatsoever and all your constitutional rights are fictional. Your liberty and human rights are in the hands of every petty government officer because they get to do whatever they desire and it has become your burden to go to court to PROVE you have any human rights. This is what happens in all republics. Whenever you have a political class, they always exert their power against the people. There is ABSOLUTELY NO HISTORICAL EXCEPTION!


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Being An Olympian Can Be Taxing

Posted by M. C. Fox on August 28, 2016

Especially for US athletes.

The win is declared, the medal is awarded, the US IRS is waiting with a red-hot poker instructing the poor soul to grab his/her ankles.

This from Americans For Tax Reform. Crazy ol’ Grover Norquist and his gang.

http://www.atr.org/win-olympic-gold-pay-irs-a7091

Medal Tax Prize Tax Total Tax Burden
Gold $236 $8,750 $8,986
Silver $135 $5,250 $5,385
Bronze $2 $3,500 $3,502

It gets even worse. Not only do our Olympic athletes have to pay taxes on their medals and prizes – chances are their competitors on the field will face no such taxation when they get home. Because the U.S. is virtually the only developed nation that taxes “worldwide” income earned overseas by its taxpayers, our Olympic athletes face a competitive disadvantage that has nothing to do with sports. Read the rest of this entry »

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Congress Or The IRS – Who Has More Integrity?

Posted by M. C. Fox on June 25, 2014

Darrel Issa is putting the screws to new IRS Commish Koskinen.

Why anyone with any integrity would work for the IRS is a mystery. We will have an IRS integrity level dipstick check very soon. The results should not be a surprise. There will be no effective change. The IRS has the guns and badges to get the goods from the 50% of the population that is relieved of their hard-earned pay. Money talks everywhere but especially in government.

Now we find out that the IRS’ email backup system keeps so much data the IRS can’t find anything.  Try telling them that next April.

One thing you can say about this administration and their media lapdogs is that no lie is too big. Read the rest of this entry »

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