Tag Archives: tax

New Tax Bracket under Trump’s Plan

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  • There could be new tax brackets in 2018 if tax legislation is enacted under President Donald Trump.
  • The House Republicans’ tax bill proposes reducing the current seven tax brackets to four.
  • The Senate Republicans’ tax bill proposes keeping seven brackets but changing the income ranges.
  • Both plans propose eliminating the personal exemption and increasing the standard deduction.

House and Senate Republicans have taken two different approaches in their attempt to overhaul the US tax code by releasing separate proposals with sweeping changes.

House GOP leaders unveiled the Tax Cuts and Jobs Act last week and added last minute-adjustments this week. Senate Republicans, meanwhile, on Thursday debuted their tax legislation that contained some substantial departures from the House’s version.

Business Insider put together two charts showing how both the House’s tax plan and the Senate’s tax plan could change federal income-tax brackets in 2018 compared with those in 2017.

Under the House’s plan, there would be four federal income-tax brackets rather than the seven we have today. The brackets proposed are 12%, 25%, 35%, and 39.6%.

The Senate’s version would keep seven brackets but at slightly lower rates and adjusted income ranges. The brackets proposed are 10%, 12%, 22.5%, 25%, 32.5%, 35%, and 38.5%.

About 70% of Americans claim the standard deduction when filing their taxes, and their paychecks will almost certainly increase if either tax bill passes.

In 2017, the standard deduction for a single taxpayer is $6,350, plus one personal exemption of $4,050.

The House plan would combine those into one larger standard deduction for 2018: $12,200 for single filers and $24,400 for joint filers.

Under the Senate proposal, these would be slightly lower, at $12,000 for single filers and $24,000 for joint filers.

source: business insider

Republican Oil Tax

OilYoYo

 

Americans are facing another oil yo-yo. As the political presidential cycle returns, if what has happened in the past that the price of oil rises to pay the VIG needed to fund the political campaigns of Congress then get ready to eat oil sticker shock. With the world producing oil glut we would hope the price would lower to help the little guy have a few shekels left after landlords, health care, and taxes eat up every last cent. But if the past repeats itself, now is the time to keep our oil consumption habit in check.

When the last Bush ran with Dick Cheney the CEO of Halliburton a huge oil industry player, it seems plausible that the Oil Industry coopted the election with the shenanigans over ballots in Florida. In what seems a very curious outcome to the election of 2000, oil had it’s way.

When the world discovered oil underneath our precious planet crust, it was a boon to the worlds economy. Great progress has been achieved but the Military Industrial Complex like everything else used this gift of nature to send armies marching and wars to this day are fueled by oil.

Maybe it is time to rethink oil before it is too late. It is almost too late to save the environment. It is close to impossible to return oil to peaceful purposes.

If oil were looked at as if it were Nuclear material that needs to be monitored and protected from falling into the wrong hands, either from incompetence or dastardly intentions, then maybe we could remove it from having marching armies use oil as their ticket to ride.

Big ideas are hard to discover, but Oil for Peace is one to chew on.

Yes politicians or at least 90% of the politicians are funded by interest groups with agendas. People are the last considered issue when it comes to those friends who fund elections. If you are in a major industry you better have representation in Washington. Everyone is either giving or receiving government handouts. It is a huge industry lobbying, and special interest groups have no choice but to find the sources of monies only our financially swayed politicians could promise. This is our political system.

Energy to change our system is lacking when half the population is struggling to put food on the table and surviving in a corporate minded control of the economy that is non inclusive.

We the people have to use our oil products in a fashion that holds the oil companies accountable to the environment and accountable to life itself. Until people globally are fed up then oil will continue to fund the politicians to represent their bottom line, and not ours.

The Legalization Battle

MDC says, the battle is on and it will all come down to money and politics.

Opponents of marijuana legalization argue that decriminalizing pot increases crime, creates juvenile delinquents and can even lead to more marijuana-related deaths. But there is another reason for the crusade against marijuana that involves some people losing lots of money as the country becomes increasingly pot friendly, according to a recent report from The Nation and a study by the Center for Responsive Politics.

The biggest players in the anti-marijuana legalization movement are pharmaceutical, alcohol and beer companies, private prison corporations and police unions, all of whom help fund lobby groups that challenge marijuana law reform. In 2010, California Beer and Beverage Distributors funneled $10,000 to Public Safety First, a political action committee, or PAC, that led the opposition to California’s Prop 19. The initiative, if passed, would have legalized recreational marijuana in the state.

Corrections Corporations of America, one of the largest for-profit prison companies in the U.S., has spent nearly $1 million a year on lobbying efforts. The company even stated in a report that “changes with respect to drugs and controlled substances … could affect the number of persons arrested, convicted, and sentenced, thereby potentially reducing demand for correctional facilities to house them.”

Among the largest donors to Partnership for Drug-Free Kids, a New York City-based nonprofit that campaigns against teen drug and alcohol abuse, are Purdue Pharma, makers of the painkiller OxyContin, and Abbott Laboratories, which produces the opioid Vicodin. Community Anti-Drug Coalitions of America, or CADCA, a Virginia-based anti-drug organization, also receives donations from Purdue Pharma, as well as Janssen Pharmaceutical, a subsidiary of Johnson and Johnson that manufactures the painkiller Nucynta, according to The Nation.

The reason for opposing marijuana reform is simple: Legal weed hurts these companies’ bottom lines. “There is big money in marijuana prohibition,” the Center for Responsive Politics, a non-profit research group based in Washington, D.C., notes in a recent series on marijuana lobbying efforts, including who funds legislation to keep the drug illegal.

Part of the missions of groups like Partnership for Drug-Free Kids and CADCA is to lobby Congress to maintain marijuana’s classification as a Schedule 1 drug, meaning the U.S. government considers the drug as having a high potential for abuse, has no medical use and poses risks to public safety. Nevermind that more than 22,000 people die every year in the U.S. from overdoses involving pharmaceutical drugs, according to the Centers for Disease Control and Prevention. Three out of every four pharmaceutical overdose deaths involve painkillers — more than heroin and cocaine combined.

“I think it’s hypocritical to remain silent with regard to the scheduling of hydrocodone products, while investing energy in maintaining marijuana as a Schedule I drug,” Andrew Kolodny, a New York psychiatrist and head of Physicians for Responsible Opioid Prescribing, told The Nation. “I don’t think it’s inappropriate for them to be advocating on marijuana, [but] when we have a severe epidemic in America — one the CDC says is the worst drug epidemic in US history — it makes you wonder whether or not they’ve been influenced by their funding.”

The idea is that drug companies want to sell expensive drugs by downplaying the medical benefits of marijuana, alcohol and beer manufacturers do not want to compete for customers with legal pot, and private prisons need to fill their beds with convicted drug offenders. That means marijuana advocates have some pretty large — and well-funded — enemies to contend with.

Source: international times

Government Pot Grab

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The Cannabis story runs throughout the history of man. Cannabis in both it’s forms like many medicinal plants have been trusted to remedy many discomforts, illnesses, healings of the mind and body.

Yet now that our government has lied, misinformed, incarcerated, and denied the right to the use of these traditional medicines is Big Brother at it’s worst.

The backtracking fast-tracking efforts from Federal, State, and Local government’s should make all of us nauseated from the grab, switch and change, as if seventy plus years of history can be swept under the rug of reality.

It’s no secret that pot serves to help many diseases plaguing man. But traditional use is not profitable and since the Western European controlling ignorant culture had no opportunity to have exposure to these benefits well that ignorance has created the false myths. Because an undernourished unhealthy form of our societies existence has political power, insecurity and fear of some politicians and the uninformed have stolen the American right to freedom, happiness, and everything sacred to its’ citizens.

Poor people have been incarcerated mostly non-whites in a massive use of keeping those populations from sharing the abundance Americas European immigration populations stole. Yes stealing is common when it is not understood as Theft 101. What was stolen was what was tradition before there were any civilizations on our planet.

And this is the problem that defines the leading issue between man’s freedom and Governments Big Brother approach to its’ citizens.

All these years when the corporate sponsored legislation making pot and other similar substances illegal was a way to control our health and care by making health into the profit cash cow it has become.

Let’s be serious when fifty million Americans or more have had to be underground in the use and benefits pot has given. There is a genuine supply/demand and that is the capitalist model.

Legalizing pot has to be unregulated and available as an alternative to what is now being sold as protection, as health care in it’s current form, and as a tax revenue base to fund what the citizens given their choice would never fund.

We demand the right to grow cannabis, tobacco in it’s non GMO form, and any other herb, medicinal plant, anything that nature provides and man has used since the beginning of time and that the Government get out of our way, or there will be no future reason to believe that we have any right to pursuit of freedom and happiness.

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Dejected USA

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The United States is a deeply unhappy place. We are a nation that is absolutely consumed by fear, stress, anger and depression. It isn’t just our economy that is falling apart – the very fabric of society is starting to come apart at the seams and it is because of what is happening to us on the inside. The facts and statistics that I am going to share with you in this article are quite startling. They are clear evidence that America is a nation that is an advanced state of decline.

We are overwhelmed by fear, stress and anxiety, and much of the time the ways that we choose to deal with those emotions lead to some very self-destructive behaviors. Americans have experienced a standard of living far beyond the wildest dreams of most societies throughout human history, and yet we are an absolutely miserable people. Why is this? Why is America #1 in so many negative categories? Why are we constantly looking for ways to escape the pain of our own lives? Why are our families falling apart? There is vast material wealth all around us. So why can’t we be happy?

Just look around you. Are most of the people around you teeming with happiness and joy? Sadly, the truth is that most Americans are terribly stressed out. Yeah, many of them may be able to manage to come up with a smile when they greet you, but most of the time they are consumed by internal struggles that are eating away at them like cancer.

So why is this happening? Is modern life structured in a way that is fundamentally unhealthy?

Below I have posted a short excerpt from a message that one of Charles Hugh Smith’s readers named Kenneth Daigle recently sent to him. I think that it does a good job of describing the incredible stress that many people contend with on a daily basis…

Think about how our culture is now structured for the average adult: STRESS, everywhere you look–commuting in horrible traffic, as you want to scream in frustration–money stress, to pay rent/house note, tuition, utilities, gas, insurances, vacations, cable bill, rising food costs, and on and on and on–stress from family problems, divorce, delinquency, drugs, crime, infidelity, keeping up with the Jones, etc.

People have too high an expectation of what they should have out of life, and get overly stressed over it all. How does all of this manifest itself? A prescription drug culture (Zoloft, Xanax, etc.) that tricks people into thinking a pill will knock back the stress, when these drugs, in my opinion, only make things worse.

I am hearing more and more that people just want to drop out from it all, as they are reaching a breaking point, and have decided less income and dependency on entitlements will reduce their stress, and is not so humiliating, so giving up working becomes more acceptable, to KEEP ONE’S SANITY.

I know I am correct, from the feedback I hear every day, and the financial media does not see this like I hear it every day. People don’t want to admit that they are too weak to deal with stress, so the financial pundits are not aware of this critical factor because they don’t talk to Joe Sixpack.

Most Americans live lives of “quiet desperation” that are punctuated by moments of great crisis. We spend our prime years working for others (making them rich) in order to pay off debts that we have foolishly accumulated (thus making the banks even wealthier). When most Americans reach the end of their lives, they look back and wonder what they actually accomplished.

James Altucher published an incredible article the other day entitled “Why Do People Hate Their Jobs?” It did a great job of describing what life is like for the modern worker in America. The following are a few of the reasons that he says people tend to hate their jobs…

-Jobs are modern-day slavery. We are paid just enough to live and not more. You are punished if you ask for more.

*****

-We are often verbally abused on the job and we take it because we think it’s normal that people would yell at us.

*****

-The government gets up to 50% of your paycheck and then 10-20% of that goes to kill people on other parts of the planet, including our own children.

*****

-From 7am to 7pm you are either A) going to work, B) at work, or C) coming back from work. Hence, the times when you can be most creative are garbage-compacted into your cubicle.

*****

-When you are paranoid at a job, you are probably correct. THEY are, in fact, talking about you and backstabbing you right now.

*****

-You realize that all the dollars you spent on degrees to get you a job that will make you happy were completely wasted. You were scammed but you can’t let the next generation know how stupid you were so now you become part of perpetuating the scam.

*****

-Your spouse is tired of hearing about your job after six months. And you couldn’t care less about hers. Ten years later you wake up next to a total stranger. 40 years later you die next to one.

*****

-When you were a kid you liked to draw, and read, and run, and laugh, and play, and imagine a magical world. You’re never going to do any of that again.

*****

-Over time everyone is getting fired and being replaced by younger, cheaper, more temporary, more robotic, versions of you. You see this but are afraid to do anything about it.

And of course when we get home from work there is even more stress. In America today, we are witnessing a breakdown of the family unlike anything we have ever seen before. The United States leads the world in divorce and in single person households. We are having an increasingly difficult time relating to one another, and many of us drown our sorrows in our addictions. We are addicted to pills, to alcohol, to food, to entertainment, to sex, to gambling, to shopping and to anything else that will make us feel good and forget about our problems for a while.

The following is a collection of facts and statistics that prove that America is being absolutely consumed by fear, stress, anger and depression…

-Suicide has now actually surpassed car accidents as the number one cause of “injury death” in the United States.

-More U.S. soldiers killed themselves than were killed in combat last year.

-As I mentioned in another article, Americans will spend more than 280 billion dollars on prescription drugs during 2013.

-Nearly one out of every four women in the United States are taking antidepressants.

-The percentage of women taking antidepressants in the U.S. is higher than in any other country in the world.

-In 2010, the average teen in the U.S. was taking 1.2 central nervous system drugs. Those are the kinds of drugs which treat conditions such as ADHD and depression.

-Children in the United States are three times more likely to be prescribed antidepressants as children in Europe are.

-According to a recent article by David Kupelian, “one-third of the nation’s employees suffer chronic debilitating stress, and more than half of all ‘millennials’ (18 to 33 year olds) experience a level of stress that keeps them awake at night, including large numbers diagnosed with depression or anxiety disorder.”

-Tens of millions of Americans use alcohol and drugs to numb the pain that they are experiencing. In the United States today, there are about 28 million Americans with a drinking problem and about 22 million Americans use illegal drugs.

-More people have been diagnosed with mental disorders in America than anywhere else on earth.

-There are also tens of millions of Americans that try to deal with anxiety and stress by eating. Of all the major industrialized nations, America is the most obese. Mexico is #2.

-Back in 1962, only 13 percent of all Americans were obese. Today, approximately 36 percent of all Americans are obese.

-Many people try to escape from the pain of reality by getting lost in entertainment. Incredibly, the United States is tied with the UK for the highest average number of hours spent watching television each week.

-The United States has the highest divorce rate in the world by a good margin.

-The United States has the highest percentage of one person households on the entire planet.

-According to the Pew Research Center, only 51 percent of all American adults are currently married. Back in 1960, 72 percent of all adults in the United States were married.
-At this point, approximately one out of every three children in America lives in a home without a father.

-For women under the age of 30 living in the United States today, more than half of all babies are being born out of wedlock.

-The United States has the highest child abuse death rate in the developed world.

-In the United States today, it is estimated that one out of every four girls is sexually abused before they become adults.

-The United States has the highest teen pregnancy rate in the world by a very wide margin.

-The United States produces more pornography than any other nation in the world.

-If you can believe it, there are 20 million new STD infections in the United States every single year.

-The U.S. has the highest STD infection rate in the entire industrialized world.

-It is estimated that about one out of every six Americans between the ages of 14 and 49 have genital herpes.

-Sadly, one out of every four teen girls in the U.S. has at least one sexually transmitted disease.

-The United States leads the world in eating disorder deaths.

-Nobody in the world gets more plastic surgery done than Americans do.

-Americans spend more time sitting in traffic than anyone else in the world.

-America has the highest incarceration rate and the largest total prison population in the entire world by a very wide margin.

Fear is one of the primary things that motivates the American people, and that is a very powerful weapon that can be used against us.

As I wrote about yesterday, those that commit acts of terror want to get attention and they want to create fear.

And that is exactly what the Boston Marathon bombing accomplished. It captured the attention of the nation for days on end, and it absolutely paralyzed the entire Boston area with fear.

When we allow ourselves to be terrorized, we actually encourage more terror attacks. When we give terrorists what they want, it just encourages more psychos to commit acts of terror. If you don’t believe me, just check out the following links that I found posted on The Drudge Report on Monday…

*”3 Alabama hospitals evacuated after bomb threats”*

*”Connecticut Courthouse Evacuated After Bomb Threat”*

*”South Hills Village Evacuated After Bomb Threat”*

*”Rock Island neighborhood evacuated after bomb threat”*

*”Bomb threat forces evacuation of Seabreeze office building”*

The appropriate response to a terror attack is to refuse to be terrorized. Yes, we should also work to expose and punish the individuals, organizations and governments that are behind terror. But we should also not let terror change how we live our lives, and we should definitely not allow terror to be used as an excuse to rip our liberties and freedoms away.

Sadly, as Ron Paul has detailed, some of our politicians are already calling for “tighter security” in the aftermath of the Boston Marathon bombing…

Sadly, I expect this week’s tragic attacks in Boston to be used to justify new restrictions on liberty. Within 48 hours of the attack in Boston, at least one Congressman was calling for increased use of surveillance cameras to expand the government’s ability to monitor our actions, while another Senator called for a federal law mandating background checks before Americans can buy “explosive powder.”

I would not be surprised if the Transportation Security Administration uses this tragedy to claim new authority to “screen” Americans before they can attend sporting or other public events. The Boston attack may also be used as another justification for creating a National ID Card tied to a federal database with “biometric” information. The only thing that will stop them is if the American people rediscover the wisdom of Benjamin Franklin that you cannot achieve security by allowing government to take their liberties.

But no matter how much liberty and freedom we give up, we will never be 100% safe. Bad people are always going to do bad things, and unfortunately we are probably going to see some pretty nightmarish things in the years ahead as the world becomes even more unstable.

If we allow the bad guys to get us so frightened that we throw out the U.S. Constitution and abandon our liberties and our freedoms, then we are the ones who lose.

Yes, the years ahead are going to be tough. The economic collapse is going to accelerate greatly, there will be tremendous natural disasters, there will be war in the Middle East and there will be other problems that we cannot even conceive of right now. At the same time, the American people will continue to become even angrier and even more frustrated. According to a recent Pew Research survey, the percentage of Americans with a favorable view of the federal government is now at an all-time low. As the economy crumbles, there will likely be great civil unrest as people demand solutions. Unfortunately, our problems took decades to develop and they will not be solved overnight even if we did have good people in office.

So why am I saying all of this?

And why am I constantly warning about the coming economic collapse?

Is it because I want to create fear?

No, just the opposite of that.

I am a watchman on the wall.

In ancient times, a watchman would warn the people when the enemy was approaching.

When you receive the warning, there are a few different ways that you can respond to it…

#1 You can become consumed with fear and run away from the enemy. Unfortunately, cowards never get the victory in the end.

#2 You can dismiss the warning and pretend that the enemy is not approaching. But then when the enemy comes you will be completely unprepared.

#3 You can do everything possible to get prepared to face the enemy that is coming with strength and courage.

And that is how I would encourage all of you to approach the coming economic collapse and the other great problems that we will soon be experiencing as a nation.

Do not be afraid.

Instead, be strong and courageous and prepare well for the storms that are coming.

Source: Submitted by Michael Snyder of The Economic Collapse blog,

Billions are Offshore

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U.S. companies keeping $166 billion in offshore tax shelters

MDC says , U.S. companies are making record profits, but the money is remaining offshore in various other countries where it is lightly taxed.

US companies are keeping more of their profits offshore, choosing overseas tax havens amid talk in Washington about closing corporate tax loopholes, The Wall Street Journal reported Monday.

The business newspaper said its analysis of 60 big American companies had found that they had collectively parked a total of $166 billion offshore last year.

That shielded more than 40 percent of their annual profits from US taxes, the report said.

Each of the 60 companies chosen for the analysis had held at least $5 billion offshore in 2011, according to The Journal.

The list included Abbott Laboratories, whose store of untaxed overseas earnings rose by $8.1 billion, to $40 billion, the paper said. The increase exceeded the pharmaceutical maker’s net income of $6 billion.

Industrial conglomerate Honeywell International Inc. boosted its store of untaxed earnings held by its offshore subsidiaries and earmarked for foreign investment by $3.5 billion last year to $11.6 billion, a rise equal to the company’s annual profit, excluding a pension adjustment, The Journal said.

The practice is a result of US tax rules that allow companies to not pay taxes on profits earned by overseas subsidiaries if the money is not brought back to the United States, the report pointed out.

Source: raw story

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The Last Nickel

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A father walks into a restaurant with his young son. He gives the young boy 3 nickels to play with to keep him occupied.

Suddenly, the boy starts choking, going blue in the face. The father realizes the boy has swallowed the nickels and starts slapping him on the back.

The boy coughs up 2 of the nickels, but keeps choking. Looking at his son, the father is panicking, shouting for help.

A well dressed, attractive, and serious looking woman in a blue business suit is sitting at a coffee bar reading a newspaper and sipping a cup of coffee. At the sound of the commotion, she looks up,
puts her coffee cup down, neatly folds the newspaper and places it on the counter, gets up from her seat and makes her way, unhurried, across the restaurant.

Reaching the boy, the woman carefully drops his pants; takes hold of the boy’s
testicles and starts to squeeze and twist, gently at first and then ever so firmly. At last the boy convulses violently and coughs up the last nickel, which the woman deftly catches in her free hand.

Releasing the boy’s testicles, the woman hands the nickel to the father and walks back to her seat at the coffee bar without saying a word.

As soon as he is sure that his son has suffered no ill effects, the father rushes over to the woman and starts thanking her saying, “I’ve never seen anybody do anything like that before, it was fantastic. Are you a doctor? ”

No,’ the woman replied. I’m with the IRS…………………

Privatize the Highway

Global Corporations Eye The Privatizing Of Highways

As they say, as goes California, so goes the nation. The News Review reports:

It slipped under the public’s radar, but a couple of years ago, Caltrans formed a unique contract that effectively privatized a major Northern California roadway traversed by millions annually. Now, more privatized highway projects might be approved over the next several years as major financial corporations and lobbying groups eye California as a potentially lucrative market for infrastructure, especially highways.

These so-called public-private partnerships, or P3s, are a multibillion-dollar global business. One Swedish corporation has called the United States the “trillion-dollar opportunity” for privatized highways and other public infrastructure.

Critics and union groups, meanwhile, argue that Californians should be wary of privatization of their roads. They remind that the reason California got rid of its P3 laws the first time in 2004 was because of bankruptcies and messy contractual clauses that suggested privatization might not be in the public’s best interest.

Kome Ajise, Caltrans’ program manager for public-private partnerships, says there are at least four major highway projects in California that may soon be transferred over to private companies for finance, construction and operations, likely using availability payments.

TAX POEM

 

MDC says, this might be funny if it weren’t so true.

Be sure to read all the way to the end:

Tax his land,
Tax his bed,
Tax the table,
At which he’s fed.

Tax his tractor,
Tax his mule,
Teach him taxes
Are the rule.

Tax his work,
Tax his pay,
He works for
peanuts anyway!

Tax his cow,
Tax his goat,
Tax his pants,
Tax his coat.

Tax his ties,
Tax his shirt,
Tax his work,
Tax his dirt.

Tax his tobacco,
Tax his drink,
Tax him if he
Tries to think.

Tax his cigars,
Tax his beers,
If he cries
Tax his tears.

Tax his car,
Tax his gas,
Find other ways
To tax his ass.

Tax all he has
Then let him know
That you won’t be done
Till he has no dough.

When he screams and hollers;
Then tax him some more,
Tax him till
He’s good and sore.

Then tax his coffin,
Tax his grave,
Tax the sod in
Which he’s laid…

Put these words
Upon his tomb,
‘Taxes drove me
to my doom…’

When he’s gone,
Do not relax,
Its time to apply
The inheritance tax.

Accounts Receivable Tax
Building Permit Tax
CDL license Tax
Cigarette Tax
Corporate Income Tax
Dog License Tax
Excise Taxes
Federal Income Tax
Federal Unemployment Tax (FUTA)
Fishing License Tax
Food License Tax
Fuel Permit Tax
Gasoline Tax (currently 44.75 cents per gallon)
Gross Receipts Tax
Hunting License Tax
Inheritance Tax
Inventory Tax
IRS Interest Charges IRS Penalties (tax on top of tax)
Liquor Tax
Luxury Taxes
Marriage License Tax
Medicare Tax
Personal Property Tax
Property Tax
Real Estate Tax
Service Charge Tax
Social Security Tax
Road Usage Tax
Recreational Vehicle Tax
Sales Tax
School Tax
State Income Tax
State Unemployment Tax (SUTA)
Telephone Federal Excise Tax
Telephone Federal Universal Service Fee Tax
Telephone Federal, State and Local Surcharge Taxes
Telephone Minimum Usage Surcharge Tax
Telephone Recurring and Nonrecurring Charges Tax
Telephone State and Local Tax
Telephone Usage Charge Tax
Utility Taxes
Vehicle License Registration Tax
Vehicle Sales Tax
Watercraft Registration Tax
Well Permit Tax
Workers Compensation Tax
STILL THINK THIS IS FUNNY?
Not one of these taxes existed 100 years ago, & our nation was the most prosperous in the world.
We had absolutely no national debt, had the largest middle class in the world, and Mom stayed home to raise the kids.

TOM CRUISE HAS EYES WIDE SHUT

 

MDC shares the news.

Katie Holmes’ master plan to file for divorce in New York may have created HUGE tax problems for Tom Cruise … sources connected with the couple tell TMZ.

TMZ broke the story … Katie filed divorce docs in NYC, in large part because she wants sole legal custody of Suri and New York courts are way more likely to grant Katie sole legal custody and control over child-rearing decisions than California courts.

But here’s the problem … sources connected with the couple tell us … Tom has been trying to do everything legally within his power to avoid strong ties to New York City because the tax rates are ridiculously high … and he does not want any appearance that he or Katie have been living there.

But here’s the thing … TMZ has obtained documents which show Tom deeded their NYC apartment to Katie last August and our sources say it was done specifically for tax purposes. Point of fact … the deed lists a transfer to a trust, but TMZ has confirmed it’s a trust established for the benefit of Katie.

Sources say Katie is using the apartment to establish residency in New York for the purpose of the divorce — something we’re told can screw Tom tax-wise.

Source = tmz

TAX ON YOGA CLASSES

 

MDC says, Om Kriya Babaji Nama Aum

Should yoga classes be taxed? They may be soon, in New York

Someday soon, New York yogis may see a 4.5% tax added to their class package total. But they’re not taking it in Savasana.

On Monday, Ojore joined 55 concerned yogis, most of them studio owners, gathered to discuss the tax, as well as other regulations the city and state are proposing for yoga studios.

In short, says Alison West, the Executive Director of activist group Yoga for New York, it’s a big mess. While the tax would be a burden for practitioners, the the group is primarily concerned about back taxes. The state has begun charging studios for unpaid back taxes even though they never notified the studios that they should start charging tax in the first place.

“At one studio, they wanted to go back and collect three years of taxes, which is an unbearable burden for a small business,” says West.

In addition to the tax, Yoga for New York is also working on issues related to permits for studios, and the independent contractor status of teachers. What almost all of these issues come down to, says West, is that even though yoga studios are becoming as common as corner delis, the state and city have no idea how to classify and handle them.

“What I’ve found is that for studios, dealing with the state and city has become a nightmare, because there’s no clarity on the position of yoga.”

Yogis are just asking for a little representation, before taxation.

Source = well&good