• Knave Dave
    05/23/2016 - 18:16
    This past Thursday marked the one-year anniversary of the US stock market’s death when stocks saw their last high. Market bulls have spent a year looking like the walking dead. They’ve...

"An Inconvenient Tax"

Tyler Durden's picture


With April 15 rapidly approaching, it is time to start thinking taxes once again. Yet do people actually stop to think about what the US tax system really is? And, as shown yesterday, does it even matter any more? After all as was just demonstrated based on cold, hard numbers, the US government has in fiscal 2012 funded deficit spending with 15% more debt (which will sooner or later be monetized by the Fed, as China just sold $100 billion TSYs in December in a harbinger of things to come) than with net tax revenues: should it not just drop the pretense of taxes altogether and fund the entire deficit with debt? After all it is not like it will slow down debt issuance any time in the next 4 years (when it will have $24.1 trillion in debt). For a 90 minute review of all that we take for granted as we sit down with our tax accountants, or with that copy of TurboTax (and in the case of Tim Geithner, push F1 repeatedly), various economists, politicians and industrialists weigh in on the U.S. income tax system in this hour and a half documentary showing how the tax code has grown and changed in response to military conflicts, economic changes and an ever-evolving political climate.

Your rating: None

- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Sun, 03/04/2012 - 19:35 | 2222720 knukles
knukles's picture

Sherman:  Gee whiz, Mr. Peabody, if we don't have a budget how can we have a deficit?
Mr. Peabody:  Shut the fuck up, Sherman.

Sun, 03/04/2012 - 20:06 | 2222762 nmewn
nmewn's picture

Time for the wayback machine and Commander McBragg...lol.

McBragg: There! Washington DC, the US Senate December 23, 1913. Did I ever tell you about my brush with NY banker assassins holding a third of the assembly hostage?

Friend: No Ccommander, but I really must be...

McBragg (grabbing him by the shoulder): It was bitterly cold that evening and the day before Christmas Eve, when the peoples attention was turned to celebration & merriment. I had just completed my mission to recover the crown jewels of Freedonia when I came upon a sight engraved in my memory forever...

Sun, 03/04/2012 - 21:49 | 2222940 Michael
Sun, 03/04/2012 - 22:31 | 2223021 allseo
allseo's picture

With Microsoft Office 2011 you can now read Office 2010 and manage your feeds and Microsoft Office 2010 right from within Download Office 2010, the most natural place to Office 2010 Key manage this information. Using the Office 2010 Download integrated support for Microsoft Office 2010 Download you no longer have to leave Office 2007 Professional to read the latest Office 2007 Key world news, catch up on your Download Office 2007 favorite sports team, or Microsoft Office 2007 Professional remain up to date on interesting Microsoft Office 2007 Download.

Sun, 03/04/2012 - 23:34 | 2223141 UP Forester
UP Forester's picture

But, does it work on Windows ME?

Sun, 03/04/2012 - 16:32 | 2222336 Sudden Debt
Sudden Debt's picture

On a long enough timeline, taxes will pop up to 100% of your paycheck

Sun, 03/04/2012 - 16:36 | 2222349 cherry picker
cherry picker's picture

Because we were fools to allow big bro to put his hands in our wallets by making businesses tax collectors first before paying us which is rigtfully ours

Sun, 03/04/2012 - 16:42 | 2222358 Conrad Murray
Conrad Murray's picture

Yes. Taxes, if they are going to exist and be paid, should have to be paid by each individual twice per month out of his or her own pocket/account.

Sales taxes should be the same too.

Example: You go to the store and buy a pack of cigarettes. You first hand over your $1 for the smokes, then hand over the other $6 to the tax men next to the cashier.

Sun, 03/04/2012 - 16:45 | 2222364 Sudden Debt
Sudden Debt's picture

I think that guy next to the cashier was a robber and You should have called the cops....
But I think I got your point.

Sun, 03/04/2012 - 18:17 | 2222556 Fluffybunny
Fluffybunny's picture

Film not available outside of the US.


Sun, 03/04/2012 - 16:57 | 2222398 ISEEIT
ISEEIT's picture

I love you. Brilliant idea.

Now I need to go vomit. Satan is running ads just to my left. Satan is actually bringing the daughters into it.

How fucking vile.

Sun, 03/04/2012 - 17:34 | 2222488 RSloane
RSloane's picture

Ahh so it wasn't a nightmare....

Sun, 03/04/2012 - 17:46 | 2222512 ZackLo
ZackLo's picture

It's OK guys, there is a tax bomb at the end of the year as everyone has pointed out that is going to cause a one time wave of tax selling that will bump up tax revenues going into the end of the year, all is fine don't worry move along.

Sun, 03/04/2012 - 19:28 | 2222698 Don Birnam
Don Birnam's picture

Conrad, not even bi-monthly.

How to impress upon the populace quite how much the central government takes from them ? Merely eliminate all withholding taxes. Then, come every 15 April, when a bill is due for, say, $15,000 in income taxes, perhaps the thought will finally permeate that heretofore impermeable membrane colloquially known as the thick skull, that "big government" costs.


Mon, 03/05/2012 - 09:26 | 2223592 GMadScientist
GMadScientist's picture

"...then hand over the other $6 to the tax men next to the cashier."

You could try a more efficient means of suicide than smoking cigs.

Sun, 03/04/2012 - 18:14 | 2222546 Marco
Marco's picture

Funny that ... on a long enough timeline government subsidies will prop up to 100% of your paycheck as well.

Sun, 03/04/2012 - 18:26 | 2222570 sessinpo
sessinpo's picture

On a long enough timeline, the survival rate of everyone drops to zero, including governments

Sun, 03/04/2012 - 18:34 | 2222578 Silver Bug
Silver Bug's picture

You've got to feed the beast. The government has become horribly corrupt.



Sun, 03/04/2012 - 19:19 | 2222679 brettd
brettd's picture

Taxes on your paycheck is just the start.

Wait till they confiscate your stocks/bonds/cars/house.

See:  Castro; Mugabe; Chavez et al.

Sun, 03/04/2012 - 21:44 | 2222923 A Nanny Moose
A Nanny Moose's picture

I wil have Gone Galt long before then.

Mon, 03/05/2012 - 09:27 | 2223595 GMadScientist
GMadScientist's picture

Will anyone notice beyond the occasional sigh of relief?

Sun, 03/04/2012 - 16:32 | 2222337 Ima anal sphincter
Ima anal sphincter's picture

Legalized theft. In one form or another, more than 50% of MY hard work is stolen from me. Total BS.

Sun, 03/04/2012 - 16:39 | 2222357 dark pools of soros
dark pools of soros's picture

but your money going to fund birth control is doing God's Work

Sun, 03/04/2012 - 17:02 | 2222412 Dave Thomas
Dave Thomas's picture

But who's birth is it controlling?

Sun, 03/04/2012 - 17:15 | 2222436 Gully Foyle
Gully Foyle's picture

"But who's birth is it controlling?"


Sun, 03/04/2012 - 17:30 | 2222476 GeorgeHayduke
GeorgeHayduke's picture

And God's work of funding more wars against Islamic people, keeping the CIA's opium crop safe, and other such "God's Work" types of projects.

That old god is a tricky dude. Killing is evil, unless he tells you to do the killing. Then it's righteous. The only propblem is, only you hear god give the kill order which kind of strange considering the omnipotence and all-mighty labels his followers give him.

Sun, 03/04/2012 - 19:14 | 2222666 nmewn
nmewn's picture

"but your money going to fund birth control is doing God's Work"

Ya know, I've been thinkin about gettin a penal implant (not that I need it) but I'm just thinkin about all the good works I could do with it...even when I'm asleep.

The major stumbling block I have is this...I don't want to pay for it.

Sun, 03/04/2012 - 20:32 | 2222797 CrockettAlmanac.com
CrockettAlmanac.com's picture

No, you can't pay for it and your dilemma is another aspect of the war on men's health. Some of the other students are very depressed about this...

Sun, 03/04/2012 - 21:12 | 2222868 nmewn
nmewn's picture

As well they should be...it's obvious male member discrimination.

I have a right to life, liberty and pursuit of happiness and everyone but me needs to pay for my enjoyment of it ;-)

Mon, 03/05/2012 - 01:10 | 2223277 Ms. Erable
Ms. Erable's picture

So... you want to be a publicly-funded porn star? Maybe you could slide that in as part of a grant request from the NEA under the category of 'performance art'.

Mon, 03/05/2012 - 07:46 | 2223473 nmewn
nmewn's picture

Nana said I have a "right" to pursue my dreams at everyone elses expense...I'm now asserting my newly created "rights".

Pay up ;-)

Sun, 03/04/2012 - 16:37 | 2222339 Conrad Murray
Conrad Murray's picture

When April 15th rolls around, keep your hard earned money and, instead, send them a copy of goatse or lemonparty.

Fuck it. Anybody have some fax numbers for the IRS? I feel like sending them a few early.

Sun, 03/04/2012 - 16:50 | 2222375 GeneMarchbanks
GeneMarchbanks's picture

Fax 'em good, Conrad.

Meanwhile the sleeples are on automatic. Hey, pal, might that check you're shipping off thoughtlessly go toward dubious usage?

Errr, like what exactly?

Sun, 03/04/2012 - 17:05 | 2222414 Dave Thomas
Dave Thomas's picture

Most sheeples love April 15th cause they get FREE MONEY FROM THE GOVERNMENT! WHOOPEE!

I think the IRS urges most HR/Payroll offices to increase withholding to something larger than squeaky just so many millions of merikans get "FREE MONEY FROM THE GOVERNMENT WHOOPEE!"

If withholding was abolished, and everyone had to cut a check on April 15th, there'd be torches and pitchforks at 1600 Pennsylvania avenue.

Sun, 03/04/2012 - 17:28 | 2222470 valley chick
valley chick's picture

Just got my tax shit back today from the accountant.  All I can say is fuck the IRS.  Yes ...not just bad but real hurting bad...some damn freeloader will enjoy the $$$$$$$$.

Sun, 03/04/2012 - 18:28 | 2222571 AgShaman
AgShaman's picture

"Gunga.....Gunga La Gunga"

Sun, 03/04/2012 - 22:09 | 2222974 UP Forester
UP Forester's picture

At least you've got that goin' for ya....

Sun, 03/04/2012 - 18:44 | 2222591 sun tzu
sun tzu's picture

Doing your patriotic duty

Sun, 03/04/2012 - 19:17 | 2222675 valley chick
valley chick's picture

Damn if we had kept the business open and damned that we closed it.  Screwed either way and did not enjoy it.  :(

Sun, 03/04/2012 - 20:34 | 2222801 CrockettAlmanac.com
CrockettAlmanac.com's picture

Hey chick, your valley isn't called Galt's Gulch by any chance, is it?

Mon, 03/05/2012 - 07:26 | 2223449 valley chick
valley chick's picture

Wish it was.  :)

Sun, 03/04/2012 - 16:55 | 2222390 nmewn
nmewn's picture

Why not...that's what Warren does.

Sun, 03/04/2012 - 16:33 | 2222341 bugs_
bugs_'s picture

biggest single reform to make to American governance?

move election day to April 16.  it is at the opposite side of the year for a reason.

Sun, 03/04/2012 - 16:47 | 2222367 Jayda1850
Jayda1850's picture

indentured servitude refers to the historical practice of contracting to work for a fixed period of time in exchange for transportation, food, clothing, lodging and other necessities during the term of indenture.   Wikipedia-

Say the average tax rate is 25%. So for three months out of the year I work wholly and solefully for the government. How is this any different from indetured servitude? 


Sun, 03/04/2012 - 16:48 | 2222373 Cheesy Bastard
Cheesy Bastard's picture

It is different because indentured servitude ends.

Sun, 03/04/2012 - 16:57 | 2222399 francis_sawyer
Sun, 03/04/2012 - 20:33 | 2222798 Bicycle Repairman
Bicycle Repairman's picture

Hey, didn't those guys do "Bomb Iran?"

Sun, 03/04/2012 - 21:21 | 2222803 CrockettAlmanac.com
CrockettAlmanac.com's picture

How about penning a ditty on hedonic adjustments called Good Privations?

Sun, 03/04/2012 - 17:51 | 2222523 Umh
Umh's picture

You volunteer for identured servitude and get voted into paying taxes and receiving the government's spoils in exchange.

Do NOT follow this link or you will be banned from the site!