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Guest Post: Get Ready To Start Paying These Taxes Too
Submitted by Simon Black of Sovereign Man
Get Ready To Start Paying These Taxes Too
In the pre-dawn darkness of a chilly LA morning, my day started off with a chuckle. A friend in the reforestation business sent me an email detailing the US Department of Agriculture’s new ‘Christmas Tree’ tax that was approved yesterday. I thought it was a joke. It wasn’t.
One can only laugh at the absurdity of the government getting involved in such a matter. But it’s happening more and more.
You see, the United States is on a one-way collision course with its financial judgment day; the country long ago passed the historical point of no return– the point at which it has to start borrowing money simply to pay interest on the money it has already borrowed.
Throughout history, countries that passed this point of no return soon defaulted on their debts, entered into extended periods of severe inflation, or both. This is nothing new– the idea of a government going bankrupt is practically as old as the concept of government itself.
Along the way as they slide down the slippery slope of economic calamity, governments typically hit the accelerator by resorting to financial repression; rather than making the economy open and attractive to talented people and investment capital, they instead confiscate, inflate, and overregulate.
These tactics include oldies but goodies like civil asset forfeiture, capital controls, and a host of whacky new taxes. Like a Christmas Tree tax, for example.
Sumptuary laws (regulation and taxes over lifestyle habits) are quite common, dating back to the Renaissance period ‘beard taxes’. If you wore a beard during the time of Peter the Great in Russia, or Henry VIII in England, you paid a tax to the government for the privilege.
There are many modern day equivalents of the beard tax– taxes on cigarettes, mobile phones, vehicles, luxury goods, etc. We should expect the introduction of even more– a national sales tax, an Internet tax, a carbon emissions tax, and a financial transactions tax.
After this, the next mind-boggling category of taxes that will be introduced are ‘social taxes’. In other words, you get taxed on what everyone else is doing… like an anti-terrorism security tax, or better yet, national healthcare where you pay for other people to go to the doctor.
During the Tokugawa period in feudal Japan, they called this ‘honto mononari’. Village peasants were taxed by the local daimyo on the basis of the entire village’s rice yield for that season. Even if you didn’t grow a single grain, you still paid.
Perhaps the most heinous forms of taxes to come, though, are asset taxes. And at roughly $5 trillion in total value, individual retirement accounts (IRAs) are the lowest hanging fruit that the federal government can grab.
It’s not that far-fetched. Argentina has done it. Hungary and Ireland have done it. Even France passed a law last year authorizing the government to use pension fund assets to pay off its debts. And if you recall, the US Treasury raided public pensions this year to tide itself over during the budget debacle.
The next step will be for the government to nationalize a portion of IRA assets. They’ll wait for a severe market downturn that wipes a huge chunk from most IRA accounts, blame capitalism for the failure, and then pass a law requiring that X% of IRA funds be held in the ‘safety and security’ of government debt.
If you think this can’t happen, then I encourage you to do absolutely nothing. Keep your IRA funds parked with a big, conventionally-thinking financial institution that has absolutely no interest in your financial security.
If, on the other hand, you can see the writing on the wall, then one of the biggest no-brainers you can undertake is establishing an Open Opportunity IRA.
This is a structure where YOU take control over your own retirement funds, opening up your savings to a world of possibilities and protecting against government confiscation.
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(supposedly real) Sign in Zimbabwe rest room - "Please do not flush paper towels or money".
Toilet Paper Tax would discriminate against Women, They really cannot shake those dribbles off.
Press Conference by IMF Managing Director, Christine Lagarde at the Conclusion of Her Visit to Russia
http://www.imf.org/external/mmedia/index.aspx
Translation: I just returned from China yesterday and they were very constructive too me. Upon my recent return from Russia, they were constructive in telling me to come back once I learned to fully swallow protein deposits from each committee member. I'm off to EU on Tuesday, perhaps I can start practicing to please my BRIC members. Christine Lagarde ends press meeting by underscoring, "My collective efforts are to please everyone."
Taxes ate the core engine of development out of Amerika, public education, along with welfare have ruined what once was the greatest country on earth. Now, the city streets are lined with half educated idiots, selling 'homeless' newspapers and getting free gov't health care and social security disability checks while we pay for all of it. Time to start a new America, where only those who contribute are allowed to live. Texas is a great place to do this! Any of u Texans ready to leave USA?
WHAT?! You want to give Texas to the wetbacks? I'll have to move, but sure. I could stand some nicer weather, and fewer Texans.
http://www.sovereignman.com/expat/questions-about-open-opportunity-ira-n...
How does one go about converting a rollover IRA into an Open Opportunity IRA?
There are internet services that will take you thru it step by step for three hundred bucks.
You can then buy a rental house for your IRA SEP or solo 401K.
I suspect a lot of people do what I do. My buddies and I cross loan it to each other's businesses and pay each other good rates. No risk either with the right group of buddies. It is essentially a way to evade contribution limits.
Thanks for the response. I'm not looking to evade, I just don't want the government taking money I worked for. I might close my IRA entirely, take the early withdrawal hit, and just hold the cash for a rainy day. As with everything government, there will be unintended consequences from touching IRAs.
"I might close my IRA entirely, take the early withdrawal hit, and just hold the cash for a rainy day."
I have three lines of thought on this.
1) There are statist shills who would love nothing more than for you to give up +/-30% of your earnings to them.
2) +/-70% of something is better than 100% of nothing.
3) Standing pat allows a cushion (even in a money market) for all the things that are wrong within the casino.
Choose wisely ;-)
I just shut a small one down. Takes 10 business days and they will give you the " Tax Implication" , b.s.
Bee your own boss ( nmewn )! You are way too smart!
Why thanks Yen.
I've had two businesses before. The ratio of BS imposed by government to profit margin recieved is amazing, which is why I shut one of them down.
Now its a different ratio of BS. My wife (a former AVP) said if I could stand the corporate BS the job itself is nothing.
She was right.
The amount of executive yes-man, rah rah, faux team spirit hokum, redundant and/or conflicting policies issued, inter departmental warfare, squeeze the last ounce of blood from the mid to lower level work force below so they can get their stock options is an impressive thing to see first hand...lol.
But for now, its stable and lucrative...they tolerate my open cynicism and snarkyness in exchange for my expertise and the volume of projects I produce to make them more money over time...I tolerate all the above.
It's a way to charge a Christmas tree tax and force the informal economy (pumpkins, swap meets, vest pocket coin dealers, lemonade stands and garage sales) to register with the IRS ! Where's the skull cap tax, the Birka tax, the Koran tax, the dream catcher tax, the voodoo doll tax, the plastic dashboard Jesus tax, the porno video tax, the Easter lilly tax, the fortune cookie tax, the circumcision tax, the tattoo tax, the body rings tax (I actually agree with that one !), the musical instrument tax, the prayer tax and the panty liner tax ! Monedas 2011 Comedy Jihad April 15 Fool's Joke Tax Collector
"princess nancy"
that's a nice quote
More taxes : more spending : more deficit
Cue Fall of Rome analogies. No Seriously. We need somebody to make a blockbuster movie with beekcake stars for women and fan service for the men that explains the fall of the roman empire. There would be be plenty of sex, but they need to show that rome shat on the people it needed most (loyal soldiers, innovators, farmers) And the way they deliberately shat on the people they needed most was with absolutely bizzare, subjective, demeaning taxation schemes and devaluation of the currency.
From oppulence to ashes, and it was all avoidable.
Not so sure it's a no-brainer where the IRS is concerned:
http://www.bankrate.com/financing/retirement/the-open-opportunity-ira/
In other news, I have a bag on my head.
So now they’re trying to get blood out of a Christmas tree! What an economy!!
That’s what happens when a lobbyist-bought Congress sells out the jobs that once supported American families and American infrastructure by surrendering massive amounts of our economic sovereignty to global organizations such as the WTO, the IMF and the World Bank, and the International Bankers.
Now, in America, according to Politico: “Almost one in five men between the ages of 25 to 34 are living with their parents, according to a Census Bureau report.”
“Globalism,” says the site The American Dream, “is slowly destroying the greatest economic machine that the world has ever seen and most Americans don't even realize it. The United States has also entered into a whole host of very damaging "free trade agreements" such as NAFTA that are costing our economy huge numbers of jobs.”
The United States is losing an average of 50,000 manufacturing jobs per month since China joined the World Trade Organization in 2001.In addition, over 40,000 manufacturing facilities in the United States have been closed permanently during the past decade. (46,000 factories were transferred from the US to Asia over the same 10 year period, according to Gordon T. Long).
Merry Christmas!
Tax until we can only pay in highly debased food stamps, bitchez!
Who is John Galt?
"Who is John Galt?"
What's with the gutter talk, Eddie?
as much as i would like to think we still have a functioning democracy...i feel like i'm watching american idol...where's paula? can i text my vote in?
also ron had a good point about the banks...good luck america
will there be a hunnakah tax as well? dradel tax? easter bunny tax? st patricks day green beer tax? blogging tax? thanksgiving turkey tax? parade tax? tax tax? tic tac toe tax?
Ever see the movie, Popeye? Sweet Haven taxed every move its citizens made.
This is getting cartoonish.
Time to change the channel.
um um um...
- governor perry
oh shit that's the end...classic
harwood just took down a pres candidate
(i'll take DOE for a pres nom alex)
I think something must be rottn in the Texas electoral system, c'mon man, really!
Even a teleprompter won't get this perry through 4 years.
Is he early stage something or other.....................????????????
Reminds me of W.
Is there something wrong with the water at the Governors mansion?
They will come up with Christmas tax, New Year tax, and your birthday tax pretty soon. In the end, they will implement toilet flush tax.
Someone is selling some gold contacts tonight....
newt's a smug, sanctimonious windbag who won't answer the question (because he can't)
This ass-hat with spectacles on hannity is full of S..T! China isn't even interested! The ECB has to print money! Period!
Leave the trading to people in finance you wanabee niggah! Yea I said it!
9...9...9...That's all you gots to know.
it's so catchy it just might work!
3 Medium Pizzas for $9?....with or without cheezy bread
Dr. Gonzo
9...9...9...That's all you gots to know
NOPE, add your STATE SALES TAX, ours is 8.25%.
Rounded off, that's 9-9-9-9
Plus, No Congress or Admin can be bound by another, so what's to stop that 9-9-9,from becoming 25-25-25?.
Sounds good in the Hood Herman, not where de folks live.
romney advocating "free trade" and tariffs...idiot
tariffs are the antithesis of free trade
Sounds like just another American scam to me.
Why anybody would keep any money whatsoever in a retirement account is beyond me. The suckers deserve to lose it all.
How come they didn't ask for a Honuka bush tax? Oh that's right, I forgot, all the politicians are too busy
kissing Netenyahoo's butt to tax the Yiddish holidays. But they will sacrifice the lives of thousands of young
Americans to back his holy wars in the Middle East. The Washington politicians will do whatever it takes to
get their hands on the money Israel is handing out to U.S. politicians for their re-election campaigns.
What really burns me is that they give Israel billions in foreign aid only to get a fraction of that $ back
in bribes. When Netten-Yahoo visited D.C. earlier this year, the Washington ass-licking pols were tripping
over each other to kiss his foot. It makes me want to vomit when I think of what a worthless, corrupt bunch
of ass-wipes we have running our government.
cain needs a sitcom
and this bunch of losers are the candidates, my goodness.
Obama being the criminal war monger and banker knob gobbler may just win this thing.
what a fukin mess.
You Americans are so Lucky. Go to Mother England - stand still long enough and they clean out everything in your wallet.
Go down under to Australia and they have instituted a tax on breathing. Just living has become taxing.
Socialism is great ---------- Until you run out of other peoples money.
A toll for this, an excise for that, a tax here and fee there and pretty soon I'm that broke I qualify for all social programs.
There should be a tax based on the size of your ding dong!
NO!
They should tax sex change surgery ! Monedas 2011 Comedy Jihad Tax Cut
Where is the candle tax for Menorahs?
Yes, Virginia...there is a Santa Claus. However, his sleigh was impounded for failure to pay the Christmas tree tax, the sleigh tax, the gift tax, the little person employment plan tax, the obesity tax, etc. GRINCHES!!!!! Next, they'll tax all other items associated with religious holidays.
Reminds me of the old Marx Bros. scene ("the contract" scene) - the income tax, federal tax, state tax, city tax, a steet tax, and the sewer tax...
...Its alright - that's in every contract...that a sanity clause...
Eh, you can't fool me, there's no such thing as sanity clause.
The creativity, is deserving of an ( AAA++)
I stopped doing Christmas and all the associated commercialism several years ago. I celebrate the Yule instead: A simple service and a good meal with friends and family are much better.
Nevertheless, I agree, this tax on what are now primarily Christian customs, has a stench of religious descrimination.
I agree with you we also now do not exchange gifts. Except, things like a Home Made Cookies, a can of Nuts, Summer Sausage and Cheese. Although, we do still give the Children Gifts.
Not shopping for Gifts that will eventually be returned we can spend time together with other traditions like making Cookies together. The greatest Gift is not having HUGE Credit Card Bills in January.
FESTIVUS!!!!!!!!!!
+1. Good end to a good day. Thanks.
Night all.
in other news...the super committee is a joke...prepare accordingly
Not a tax. Just another agricultural association promotion like "the Incredible Edible Egg" etc. It's not happening anyway. the real facts are here: http://www.snopes.com/politics/taxes/christmastree.asp
Sorry to spoil all the fun.
No tax on Hanukah candles? Must be the Jewish conspiracy again.
probably not but makes me wonder if Obama really is Cristian or Muslim, like they say. The usa state department website has dozens of programs and pages devoted to its muslim outreach, Obama has had several msulim dinners at the white house but never an easter celebration. I am not cristian myself but it does seem that this obama is a decisive destroyer of cristianity.
This little article is stating the obvious. Nothing new here.
Governments are going to tax everything out of us through new and inventive ways.
'they're nothing but loan sharks.' g.c.
http://geraldcelentechannel.blogspot.com/2011/11/gerald-celente-greece-b...
Thursday, November 3, 2011
Gerald Celente : Greece bailouts are just new loans on top on the old loans
Gerald Celente - The Gary Null Show -2011.11.02
Gerald Celente : going first to Greece , when you start hearing about how much they are going to get in bailouts , let's understand what's a bailout is , bailout is another loan , so it's a new loan on top of an old loan and these are nothing more than loan sharks so this is what's going on the banks made bad bets they are not baling out anybody all they are doing is taking on more loans that will never be paid back , the Greeks are already almost half a trillion in debt ....
Hang on folks, we just made a right-hand turn onto the Road To Perdition and put the pedal to the metal...
The weather's changing ... and your umbrella ain't gonna cut it
http://www.youtube.com/watch?feature=player_detailpage&v=ZCAejKdKIjE
"Perhaps the most heinous forms of taxes to come, though, are asset taxes. And at roughly $5 trillion in total value, individual retirement accounts (IRAs) are the lowest hanging fruit that the federal government can grab."
Nothing would cause a greater run on the banks and financial institutions than this.
The Government already has an Asset Tax on Real Estate, it is called Property Tax.
Plus, the Government already has an Asset Tax on Personal Property for Corporations and LLC's.
Anyone who holds Real Estate as an Investment gets Taxed on that Asset. Why should People like Warren Buffet who holds Stocks as an Asset not get Taxed on that Asset?
Think "Trust Fund".
It isn't Obama doing it, the program was proposed under Bush, it just takes the lethargic govt that long to get the ball rolling. Corruption can be lightning fast or snail slow. It is evil and anti-capitalist (like most large corporations and all corporate cartels), but this can't be blamed on Obama.
The entire agricutural industry is victim of these schemes for the larger corporate "farms" and middlemen to offload their advertising costs onto small producers and retailers. It is government capture by crooked cartels.
I would prefer if ZeroHedge did full research into this matter prior to commenting at hand.
"The Christmas tree industry petitioned to set up its own promotional program after years of concern about lost market share to the artificial Christmas tree industry. The NationalChristmas Tree Association said a majority of growers favored the petition"
http://www.csmonitor.com/USA/Latest-News-Wires/2011/1109/Christmas-tree-...
"The National Christmas Tree Association, an organization of fresh-cut Christmas tree professionals, defended the program on Wednesday in a statement, claiming the majority of the industry favors funding the program."
http://thehill.com/blogs/blog-briefing-room/news/192687-usda-delays-impl...
In essence, this was the Industry's proposal on taxing itself to promote itself through a more broad based audience, not Obama being the dumb head axing his own feet.
I know Obama is not the sharpest cookie as President, nor is should he be re-elected, but trusing Jim DeMint, a Republucan Hack, in the information stated is folly. Due Diligence is what I expect from ZH, not some random babble.
did someone say herman cain?
....
http://archive.wbai.org/
the jimmy door show. (sp?)
Thursday November 10 2:00pm
mental illness happy hour pod cast.
all herman cain hour ....