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21.09.18.0230Sa HOW TO RECOGNIZE A SOCIALIST?

A Free Market Capitalist believes that “A rising tide raises ALL ships.” Whereas a Socialist believes that sinking ALL ships makes them ALL equally sunk.

There’s many examples of this fail Socialist ideology. For example, rather than put extra effort into educating the slower students, the Socialist way is to hold back & dumb down the achieving students until ALL students are equally uneducated.

Everything a Socialist does is therefor wrong – it’s warped thinking. Sorry to say, we’re all afflicted with this Socialist mental deficiency to some extent or other. We probably acquire this infectious mental disorder during childhood from our mothers – it’s precisely how women raise little pudding people. And yes I stole that term ‘pudding people’ from Sydney Watson who I admire – a woman, go figure that out.

Posted by: Fox Business ~ Sep 17, 2021
“Kudlow: Biden won’t tell you this”

1914wizard 8 Sep 18
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Of course an honest government would never institute an income tax, nor require its citizens to annually report their income for the purpose of taxing income. Thanks to Democrat Presidents Woodrow Wilson and FDR, government has grown way out of proportion in size and scope to what it should be and it grows exponentially now with every crisis, and most of those crises are self-generated. The climate crisis, for example, has made predictions that have missed the mark for the last 50 years. But we have spent 100s of billions if not trillions creating all manner of agencies to deal with it and funded research to make predictions. The opportunity costs of shutting down the fossil fuel industry and investing in technologies that do not, and probably never will come close to supplying the world's energy demands, are probably as great as the mal-investment in those technologies.

The covid-19 pandemic is another crisis they have created doing gain of function research, which is another way of saying, research on biological weapons - there could be no other purpose for gain of function research. Proponents of this research should be hung as enemies of the people.

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Addition to the video above-.

Arthur Laffer: Government Spending and America’s Economic Future | NTD Business Leaders

Arthur Laffer is known as the father of supply-side economics. He designed the famous Laffer Curve that showed that higher taxes don’t necessarily mean higher tax revenue for the government.

A chief economist at the Office of Management and Budget in the 1970s and later an economic adviser to President Ronald Reagan and President Donald Trump, Laffer was awarded the Presidential Medal of Freedom by Trump in 2019.

NTD interviewed Laffer on how government spending impacts America’s economic growth.

SCHIFF: Money Printing Is Destroying the Value of the Dollar

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I don't agree with a lot of what was said as attempt to explain how progressive tax in theory also works in practice. In theory, yes the super rich should pay more tax if only way you look at it is trough IRS. But that simply does not work like that in practice.

An income tax is a government levy (tax) imposed on individuals or entities (taxpayers) that varies with the income or profits (taxable income) of the taxpayer.

However this is not even across the country or business. It vary widely by jurisdiction. Many jurisdictions refer to income tax on business entities as companies tax or corporate tax.

Quite often when people hear the words "tax haven" (not to be confused with tax shelter), they immediately think of the notorious Panama Papers, which leaked information on more than 214,000 offshore entities and their abusive use of tax havens. (by the way, the papers leaked and nothing happened, hmmm I wonder why that is)

While the scandalous documents shed light on the abusive use of tax havens, making use of a tax haven is not inherently illegal as long as it is used for the proper purpose. Use of a tax haven can be part of an effective tax plan. (something rich people can do because they can hire army of lawyers and lobbyists and accountants to cook the books, or simply operate outside of reach of the the tax collectors)

Are you surprised to learn that the United States has its own tax haven, read on to find out more about why the state of Delaware in particular has been given this title.

In general, when a country or other specific location offers favorable tax treatment to foreign investors, it is considered a tax haven. The state of Delaware falls into this category; it offers favorable tax treatment to certain categories of business, and it does not require companies to identify their beneficial owners when formed. For this reason, Delaware has become the mecca for many companies and corporations.

Delaware as a domestic tax haven

Note: This is not an exhaustive list of Delaware tax law

At present, the state of Delaware is home to approximately 1,000,000 businesses and more than 67.8 % of Fortune 500 companies. Additionally, in 2019, 89.9% of U.S.-based businesses with initial public offerings chose Delaware to be their corporate home. Sounds like a lot of business deals are taking place in the Diamond State.

Not only are there many business deals taking place in the state, but many of these deals occur under the same roof. That’s right: Approximately 300,000 of these businesses are located in a one-story building located at 1209 N. Orange St, Wilmington, DE 19801.

As you can see, for a state with a population of only 973,764, there are a lot of business transactions going on. But what brings companies like Apple, American Airlines, Berkshire-Hatheway, and Coca-Cola together under a single roof? Let's learn more about Delaware’s business and corporate allure.
Corporate income tax exemption

In general, the corporate income tax in Delaware is 8.7%. However, the Delaware code states that "corporations whose activities within the state are confined to the maintenance and management of their intangible investment, as well as the collection and the distribution of the income from such investments" are exempt from corporate income tax.

Note: Intangible investments include easements, water rights, timber rights, patents, trademarks, and computer software.

Additionally, Delaware's code does not impose a tax on a "statutory corporate office (registered office) in the State but not doing business within the state." Now we know why so many companies have a subsidiary office in Delaware.

Note: The statutory corporate office (registered office) is the physical office where the corporation receives service of legal documents.
State and local sales tax

In addition to exemption from corporate income tax for certain businesses, Delaware does not impose state or local sales tax on the sale of goods. At the same time, the state does have an annual business license requirement, as well as a gross receipts tax imposed on the seller of goods or service provider.
Flat rate for annual tax

Another perk of doing businesses in Delaware is that LLCs and partnerships are charged a flat annual tax. Delaware imposes a flat rate of $300 and does not require entities to complete an annual filing.

In addition to annual flat tax paid by LLCs and partnerships, Delaware has a flat tax for corporate franchises. For Delaware franchises, the minimum tax is $175 for those using the Authorized Shares Method; for those using the Assumed Par Value Capital Method, the minimum tax is $400. While the minimum tax for both entities is rather reasonable, the tax can be as much as $200,000, or if the entity is identified as a Large Corporate Filer, the tax can be $250,000.
The Court of Chancery

In addition to favorable tax treatment, Delaware is also known for its favorable business laws. Cases and controversies involving businesses and/ or corporations are overheard in Delaware’s Court of Chancery. The Court of Chancery was established in 1792 and is a court of equity. This means the court hears cases that offer remedies other than monetary damages, such as an injunction.

While litigants cannot receive a jury trial in the Court of Chancery, they can receive a decision from an expert impartial decision-maker who is well versed in the areas of corporate, business and commercial law. This makes the Court of Chancery an excellent forum for litigation if you're a business owner or corporate shareholder.
Millionacres bottom line

As previously mentioned, tax havens are not inherently illegal; they're simply locations that offer businesses and corporations favorable tax treatment -- like the Diamond State of Delaware.

If you have done your due diligence and have sought a competent advisor, then Delaware may be the haven for you. I’ve heard 1209 N Orange St. is a pretty popular place!

The Corporation Trust Center, is operated by CT Corporation, a subsidiary of Dutch information services firm Wolters Kluwer. The company provides "registered agent services" and, as such, is not responsible for the business or legal affairs of the customers it serves. In 2012, it was the registered agent address of at least 285,000 separate American and foreign businesses who operate or trade in the United States. The building is located at 1209 North Orange Street in Wilmington, Delaware.

Many companies are incorporated in Delaware for its business-friendly General Corporation Law. It was estimated in 2012 that $9.5 billion of potential taxes had not been levied over the past decade, due to an arrangement known as the "Delaware loophole." Companies formed in Delaware are required to have an address in the state at which process may be served.

Therefore, Delaware entities with no physical office in the state must have a registered agent with a Delaware address. Notable companies represented by CT at this location include Google, American Airlines, Apple Inc., General Motors, The Coca-Cola Company, Walmart, Yum! Brands, Verizon, and about 430 of Deutsche Bank's more than 2,000 subsidiary companies and special purpose companies. Both former President of the United States Donald Trump, and his main opponent in the 2016 United States presidential election, Hillary Clinton, have registered companies at the center.

Oh by the way there is one United States Senator from Delaware that goes by the name of Joe "pay your fair share" Biden. His sun Hunter is a great artists, I hear.

“When there is an income tax, the just man will pay more and the unjust less on the same amount of income.” ― Plato

Additionally. When you are poor you mostly deal in cash , which means you can do jobs and not report income tax, because there is no record of the transaction. This is how poor get by, in gray economy.

Than there is the upper end of super rich that can pay use the money they should pay in taxes and instead hire army of lawyers, accountants. Relocate to places like Delaware or Cayman Islands etc. And they can off course lobby the government to pass the laws that favor them. They can create dummy corporations, they can borrow money, spend it, declare bankruptcy and than start again. And off course the bankruptcy laws are some of the most corrupted laws in America. For that reason. They can also do inside trading like on Wall Street and the list go on about all the ways they don't have to pay much taxes. They also work with government, so they kill competition and establish monopolies, therefore even if they did pay taxes, that alone secures them crazy earnings that should not be possible otherwise.

How many companies get sweet deals from corrupt government, and no bidding process and way over priced. Military industrial complex is only one of many complex we now see.

Than there is the oxymoron scheme of non profit organizations that make profit, but don't pay taxes like they should. Its all in how you rename your company. Than there are endless "infrastructure" projects and gender studies that are subsided by the government and they don't pay much taxes if at all.

Do you think Tesla and Space X would make one rocket or one car if they were not funded by the taxpayers and competition sabotaged by the government? Hell no. Elon Musk could not sell limeade at lemonade stand if it was not for the government involvement.

And even if all this was not the case and everyone payed their fair share. It still would not be fair, since everyone is taxed by the government spending spree and deficit of over 50 years.

Government is now almost 30 trillion dollars in debt. And its spending and printing money like there is no tomorrow. It is expected on the low end to spend some 10 trillion in the next year and can collect barely 3 trillion if they are lucky. There is no way government can borrow more money, since no one can lend it or wants to lend it. So the government simply prints more money. Or adds zeros to the fictional bank account.

If the government raises taxes it actually collects less taxes overall. Because it incentivises people to find ways to avoid paying taxes and while they are busy figuring that out, they are not as productive as they would otherwise be. The small companies use cash and gray economy and super big companies use all the other methods I mentioned. So the burden comes down to middle class, and small business. but wait they killed off much of them by various disastrous policies they implemented under virus excuses and various other social programs.

So they simply use inflation to tax people. Inflation is taxation without legislation. In other words, it puts more money in circulation and the more money there is , it devalues itself, since its not scarce anymore. Money becomes worth less. And this worthless money can buy less of the same, since its purchasing power has been diminished. That is the way government taxes people and funds itself as long as it can, before it all goes to hell.

Inflation is what desperate countries do, when they can't borrow anymore money since no one can finance their irresponsible spending ,and they can't tax people anymore because of unpopular attempt to do so, or because it simply does not work as intended, and so they simply print more money, causing inflation, which in turn devalues purchasing power of the currency, and side effect of that is that for same goods and services the price goes up.

This causes both business and consumer to change their spending and earning habits and before you know the system collages under its own weight. And by this time there are endless other problems, of systemic corruption, immigration, war spending, social programs, bad infrastructure, social and political divide etc.

Bottom line is, that idea of pay your fair share is far cry from truth.

So all this Fox statistics are for people who don't really have insight into how the system works, and with proper use of statistics you can disprove gravity.

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