Corporations pay taxes, but the ultimate consumer (we, the sheeple) pays that tax through higher prices.
Those prices are higher not only to pay the tax, but also to pay for all the associated costs that each corporation uses to account and minimize their tax burden.
Bea Lever
August 24, 2016 9:04 am
Income tax is just “protection” money, if you keep paying the IRS goons won’t come and rough you up. Just like the way the mafia operates their protection shakedowns.
rhs jr
August 24, 2016 10:41 am
The IRS was created at the same time as the Fed and is controlled by the same people. The IRS purpose is to collect the interest on the money the Fed loans the US Treasury. Both the Fed and IRS are like foreign entities within the US.
The income tax on bank credit is the blowoff valve to drain “money” from the system in order to prevent it from inflating away too quickly.
RT Rider
August 24, 2016 12:55 pm
The advent of a flexible fiat currency, which can be issued at will (government fiat or diktat), needs a built-in brake to inhibit rampant monetary inflation for goods and services.
The modern income tax, coupled with fiat currency, is no different than the tally stick system used by the Crown in Olde England. The Crown paid for goods and services using tally sticks, which were worthless but made legal tender. The benefit to the merchant was that he could pay his taxes using the same sticks. This created a demand for cash balances (demand for money) for tax payment back to the Crown, which acted as a brake on inflation.
Income taxes have the same function today, but as we see today, most monetary inflation increases asset prices, which benefits the uber rich. They get the money first, use it to strip wealth out of the country, and the lumpenproles pay the income taxes to keep inflation tame, while the purchasing power of their wages is constantly debased. It’s quite a racket.
Anonymous
August 24, 2016 8:51 pm
I believe that in the 1950’s the top tax rate was close to 90%. However, due to generous tax shelters, almost no one paid that rate. Many of these tax shelters were rescinded in 1986.
In the 1970’s, the top tax rate was around 70%.
Boat Guy
August 25, 2016 12:52 am
The one place where all Americans should demand equality is in the tax code ! The very Idea that there are different strokes for different folks is pure theft and criminal just level things out regardless . Taxes are a necessary evil for our society to function but the fact that it has become a place where my shit is shit while your shit is stuff is BULL SHIT and no most wealthy people do not pay a fair share do the math
Related: http://dailycaller.com/2016/08/23/this-is-how-the-us-corporate-taxes-measure-up-in-the-world-in-one-handy-map/
Corporations pay taxes, but the ultimate consumer (we, the sheeple) pays that tax through higher prices.
Those prices are higher not only to pay the tax, but also to pay for all the associated costs that each corporation uses to account and minimize their tax burden.
Income tax is just “protection” money, if you keep paying the IRS goons won’t come and rough you up. Just like the way the mafia operates their protection shakedowns.
The IRS was created at the same time as the Fed and is controlled by the same people. The IRS purpose is to collect the interest on the money the Fed loans the US Treasury. Both the Fed and IRS are like foreign entities within the US.
The income tax on bank credit is the blowoff valve to drain “money” from the system in order to prevent it from inflating away too quickly.
The advent of a flexible fiat currency, which can be issued at will (government fiat or diktat), needs a built-in brake to inhibit rampant monetary inflation for goods and services.
The modern income tax, coupled with fiat currency, is no different than the tally stick system used by the Crown in Olde England. The Crown paid for goods and services using tally sticks, which were worthless but made legal tender. The benefit to the merchant was that he could pay his taxes using the same sticks. This created a demand for cash balances (demand for money) for tax payment back to the Crown, which acted as a brake on inflation.
Income taxes have the same function today, but as we see today, most monetary inflation increases asset prices, which benefits the uber rich. They get the money first, use it to strip wealth out of the country, and the lumpenproles pay the income taxes to keep inflation tame, while the purchasing power of their wages is constantly debased. It’s quite a racket.
I believe that in the 1950’s the top tax rate was close to 90%. However, due to generous tax shelters, almost no one paid that rate. Many of these tax shelters were rescinded in 1986.
In the 1970’s, the top tax rate was around 70%.
The one place where all Americans should demand equality is in the tax code ! The very Idea that there are different strokes for different folks is pure theft and criminal just level things out regardless . Taxes are a necessary evil for our society to function but the fact that it has become a place where my shit is shit while your shit is stuff is BULL SHIT and no most wealthy people do not pay a fair share do the math