A Very Unreliable Tax System
September 20th, 2021
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The IRS is "the collection agency of Federal Reserve"
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The Internal Revenue Code should be considered a contract between citizens and the government. When Congress makes changes to the law, prior promises should rarely if ever be withdrawn or modified. Government should never subsequently punish taxpayers for arranging their transactions as allowed by the existing tax law at the time of a transaction.
Judge Learned Hand, a federal court of appeals judge in the 1950s, famously said, "Anyone may so arrange his affairs that his taxes shall be as low as possible; he is not bound to choose that pattern which will best pay the Treasury;
there is not even a patriotic duty to increase one's taxes." Today, the Ways and Means Committee of the House of Representatives should caution that in arranging one's affairs to successfully result in the lowest tax under the law... During the Clinton administration, the president proposed tax rules that would provide "new rewards for entrepreneurs who take risks."...
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Politicians decide how much taxes you should pay, and the fake news decides what you should believe
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In 2009,... President Barack Obama signed new legislation increasing the income exclusion to 75 percent. Completing the trifecta, in 2017,
President Donald Trump signed legislation "permanently" increasing the tax exclusion to 100 percent. Investors were required to hold their stock for a minimum of five years before the tax exclusions would be available, along with formulaic limitations of the amount of income that would not be taxed.
Three administrations, two political parties, and over 20 years of legislation encouraged investment in new businesses through reducing the tax rates on the ultimate sale of these QSBS investments...
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Taxes aren't the only thing worth considering!
The Ways and Means Committee chooses to retroactively invalidate a tax law that was put in place to encourage investment... This is the unmaking of a 108-year-old tax system based upon integrity... It should matter not that
the current focus of Congress is taxing the wealthy rather than encouraging new private investment. The (our) government encouraged taxpayers to make such investments, and the Ways and Means Committee should not suggest that the government renege on such promises...
an individual named Peter Thiel is said to have amassed $5 billion in a Roth IRA. .. There have been no reports that Thiel has broken any tax laws or any laws whatsoever in brilliantly investing a small amount of money and waking up one morning with $5 billion in his Roth IRA. With the proposed tax rates,
Thiel could face federal and state taxes approaching $3 billion. This would be the penalty for amazingly successful and legal tax planning.
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Talk about luck!
Note that Thiel could have purchased the investments for himself directly and there would be no taxation until he sold the stocks. He might have chosen to hold these stocks until death. If held personally, Thiel would have been subject to lower tax rates upon sale as the income would be subject to capital gains taxes. What is notable is that it appears that
the Ways and Means Committee is punishing Thiel for taking tax planning It's easy for anyone to see that the results of the tax planning done by certain wealthy taxpayers provided benefits that Congress could never have imagined...A Very Unreliable Tax System | Jew World Order (http://www.jewworldorder.org/a-very-unreliable-tax-system/)
http://www.jewworldorder.org/a-very-unreliable-tax-system
The Jew and his henchmen always end up on top.
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