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    Added news  to  , Taxes

    Why has the world been turned on its head these last few years?  Why does it seem as if everything true is labeled false and everything false is labeled true?  Why is it that, even in the absence of all-out global war, everything feels chaotic and uncertain these days?  Why is it that at the height of global prosperity and peace, the world is going mad?

    What if I were to tell you that what we are experiencing has nothing to do with events currently unfolding in the present and everything to do with a future event that sits just over the horizon?  What if I told you that everything the titans of government, finance, and technology do today is in preparation for something they are desperate to prevent tomorrow?  What if I told you that this looming disaster for those who hold power now would one day be known as "The Global Revolt of the Peasants"? Would all the craziness around us make a little more sense if you knew that the only thing our "leaders" actually fear is we?

    Even the most free and dynamic social systems degrade over time as the people who govern those systems distort them in pursuit of greater personal wealth and power.  Corrupted systems eventually lead to breakdown and collapse.  As collapse nears, social systems become so vulnerable to unsanctioned actions and ideas that they close themselves off.  Freedom is replaced with tyranny.  This is by design.

    Added news  to  , Taxes

    Crypto exchanges don't report client information to the IRS like discount digital brokerages do, so there's temptation for traders to try and skate by. But if this approach worked in the past, be warned: that could change this year now that the Dems are back in power.

    Binance doesn't even allow American customers to trade on its platform (though it has been accused of illegally doing so by turning a blind eye to users trying to skirt this rule), but other investigations and summonses of note go back even further. In 2016, the IRS received approval for a similar summons for Coinbase and obtained information for about 13K customers. The agency sent letters urging many of them to make sure their crypto taxes were paid, as the IRS might soon be taking a hard look.

    Added news  to  , Taxes

    New analysis by IRS researchers and academics estimates the richest 1% of U.S. households use complex tax avoidance strategies that allow them to outmaneuver the federal government's increasingly rare audits of the wealthy. 

    When the IRS actually conducts them, random audits “do not capture most tax evasion through offshore accounts and pass-through businesses, both of which are quantitatively important at the top,” according to the new analysis. As a result, the paper’s authors note, the incomes of the wealthiest people in the U.S. and the country’s overall inequality are significantly underestimated.

     

    Added news  to  , Taxes

    Those favoring the wealth tax, and those who want billionaires to disappear, appear to believe that what it means to be “wealthy” is to have lots of physical money and that rich people leave their money lying around idle for them to luxuriate in like so many Scrooge McDucks. That idle money, the story goes, could be put to much better use by taxing it and then spending it on whatever project politicians might favor. This whole set of beliefs is false… (From: The Social Harms of Taxing Private Wealth)