Unmasking the Truth: The Federal Income Tax is an Excise Tax!
1/8 The federal income tax in the United States is actually an excise tax? That's right, it's not a direct tax on your income as most people believe!
@BernieSanders Not obscene at all. The sign of a healthy economy. Successful people are an asset. They do not take wealth they create it. No one becomes worse off because someone else is successful.
Senator, Why do you always lie. Top 1% have $60 trillion in wealth and bottom 93% have $75 trillion in wealth based on Federal Reserve data.
One man named Elon Musk created and/or expanded 5 successful businesses that increased in value such that he is worth nearly 1 trillion dollars. The bottom 53% did not do anything remotely close to it all combined.
What have you done to help the bottom 50%.
Did you stop the outsourcing of American industries abroad? NOPE
Did you stop H1B visa abuse to ensure Americans could seek well paying jobs? NOPE
Did you secure the border to prevent lower wage competition from illegal immigrants and to reduce home/apartment rental prices? NOPE
Did you stop Wall Street from investing in single family homes in high demand markets which drove up home prices and home rental costs? NOPE
Did you put an end to AirBnbs and VRBO home purchases that drive up home prices and reduce the supply of home for single families? NOPE
Did you pass legislation restricting personal home ownership to two homes? NOPE (you have three homes)
Did you work to expand oil and natural gas production as well as expand oil refining capabilities domestically to help reduce energy costs? NOPE (In fact you support increasing the cost of energy and gasoline/desiel through your climate crisis Green New Deal debacle and grift)
Bottom line Senator, you are a taker, not a producer of anything of value. The greatest irony here is that you are demanding to take other successful people’s property when as a member of the Democratic Socialists of America you do not believe in private property ownership, except your own property apparently.
The simple truth is that freedom supporting billionaires like Elon Musk are an obstacle to the socialist authoritarian state you wish to impose on Americans and you will say anything in your attempt to eliminate their political and social influence. Oh yeah, you do seem like billionaires who support your agenda like Reid Hoffman or who wish to destroy our Republic like George Soros. If there is anything without limit in this universe it is the hypocrisy of Leftists like you.
Dear Secretary Bessent @SecScottBessent,
My name is Everett Stern. In 2010 I was a compliance officer at @HSBC. From a back office in New Castle, Delaware, I watched billions of dollars move to drug cartels, sanctioned regimes, and terrorist organizations. The enemies of the United States. I documented it, I escalated it, and when the bank would not act, I took it to the @FBI, the @CIA, and eventually the @SECGov.
The result was a $1.92 billion settlement. At the time, it was one of the largest in American history. It was also about five weeks of the bank’s profit. Not one banker was charged. Not one went to prison.
I paid a different price. I lost my career, my savings, and my place in the industry I had trained for. I was blacklisted. Every door in American finance closed at once. I slept on a camping cot in a 300 square foot apartment because I could not afford a bed, and I waited tables at @PFChangs to eat. I tell you this not for sympathy, but so you understand that I know exactly what it costs to do the right thing in American finance, and exactly how little the system does in return.
I made that sacrifice because I believed it would change something.
Yesterday, your department fined @BankofAmerica $1.2 billion for failing to report more than $5 billion in suspicious transactions, some of it tied by your own findings to Chinese laundering networks, narcotics, and the southwest border, alongside 475 apparent sanctions violations touching Russia, Iran, and global terrorism. The bank admitted it willfully violated the Bank Secrecy Act.
Fourteen years after HSBC. A bank with “America” in its name. And once again, not one individual charged.
Secretary Bessent, I want to say plainly what I believe you already know. The fines are not working.
A fine is paid by shareholders, absorbed by the balance sheet, and forgotten by the next earnings call. Bank of America reported earnings this morning. Nobody who set the alert thresholds, nobody who decided the 2024 cease and desist could wait, nobody who chose the backlog over the law will lose a single thing they value. Their lives are untouched. That is the entire reason the behavior repeats.
This is money laundering. This is blood money. Money that reaches a cartel buys fentanyl that kills Americans. Money that reaches a terrorist organization buys the next attack. This country has fought a war on drugs and a war on terror for decades, at enormous cost in lives and treasure, and all the while we have allowed the financing to flow through institutions we charter and regulate. Cut off the money and we win. We have never seriously tried.
There is also a question of equal justice that I cannot let go.
Before I walked into the FBI building to report HSBC, I stopped in front of the Great Seal on the wall and read the words engraved beneath it: “Justice is the defense of our liberty.” I believed that. I still want to. But every day in this country, people go to prison for crimes that are nothing next to moving money for the people who want Americans dead. A suit, a title, and a corporate badge should not be a shield from the consequences that apply to everyone else. If a street dealer goes to prison for what he sells, the banker who moved the cartel’s money should be standing next to him.
I also want to raise something that is rarely said in these conversations. Why has no one inside Bank of America come forward the way I did? The answer is that everyone in American banking knows what happened to me, and to the whistleblowers who came after. The last person who spoke up is the only policy anyone believes. That is a culture problem, and it starts with leadership, in the banks and in the agencies that regulate them.
This is not a political issue. It has spanned administrations of both parties. It is a national security issue, and I am asking you to treat it as one.
Three things would change the math overnight.
Refer individuals for criminal prosecution. Not the analyst in the queue. The executives who set the thresholds and chose the risk. One banker in handcuffs would do more than every fine in Treasury’s history combined.
End “too big to jail.” An institution cannot be too big to fail and too big to jail at the same time. If it is the first, it must be held to a higher standard, not a lower one.
And if Bank of America will not act as America’s bank, review its charter. A national charter is a privilege granted on behalf of the American people. It should be conditioned on not moving money for the people trying to kill them.
Secretary Bessent, you said yesterday that these actions send a clear message that even the biggest institutions are not above the law. With respect, the institution was never the problem. The people inside it are above the law, and they know it. Until that changes, I will keep writing letters like this one, and the next bank will keep paying the next fine.
I gave up everything I had to stop this. I am asking you to use the power you have to finish it.
Respectfully,
Everett A. Stern
HSBC Whistleblower
Founder and Intelligence Director, Tactical Rabbit
Let us not forget, today is #ColumbusDay
We focus a lot of the white man conquering the natives in the Americas as if that was the first time the land was conquered. Truth be told, the Americas were being conquered over and over again by various tribes and factions for thousands of years, well before the white man ever set foot on this great land.
It is astonishing that we dismiss the brutality the Natives endured and created during their rule. Constant tribal warfare, human sacrifices to the various gods they worshipped, raping and pillaging of neighboring tribes. It was an extremely rough place to live. Natives did not have it easy, nor did they make it easy on themselves.
Everything we have today can be traced back in large part to Columbus setting foot here. It started a movement that created a government that recognized the most God given rights by any government, monarchy, or dictatorship before it.
Yes there was war, there was slavery, there were atrocities that took place. We need to put that in the context of everything happening in the world at that time. Which was much of the same.
I love my Native ancestry, and I love my White ancestry. I’m a rare breed, born of both that came together, and created a half Native, half White, Patriotic American.
I’m blessed and grateful to be born in America, during this time. We have a lot of problems in this Country, but we must remember to be grateful for what we have, and who died for what we have today. Whether your ancestors were slaves, slave owners, or of another class, we all played a part.
Do not let the entitled, hate filled, and ungrateful folks of today tear down everything that made this Country great.
Stay humble, stay grateful, and count your blessing.
God Bless you all & God Bless America
Had it not been for Boris Johnson and Victoria Nuland -- who personally forced Zelensky to reject the deal Ukraine and Russia were about to sign in Istanbul in 2022 -- this horrific war that has killed more than a million and consumed much of Ukraine would have been long over.
🇺🇸 SCOTT BESSENT JUST POSTED THIS:
Dear Senator Elizabeth Warren:
I have received your October 7 letter, which adds to the mounting body of evidence of your complete paucity of knowledge about financial markets. Rather than take my suggestion of studying introductory economics, you have continued your letter-writing crusade and participation in tabloid fodder about the Treasury Department.
Unfortunately, it is difficult to treat your concerns as sincere. As the federal funds rate climbed from near zero to its highest level in 22 years, with inflation hitting a 40-year high, you were a cheerleader for the Biden Administration’s reckless spending. You blamed the economic consequences on the Federal Reserve, rather than your own irresponsible fiscal policies. Your view of the economy depends on who occupies the White House, but your woeful understanding of the issues is consistent.
The “interventions” you describe as “unprecedented” have been underway since May 2024. The buyback program has been well received by market participants in bolstering Treasury liquidity, which reduces market volatility, increases the convenience yield of Treasury securities and ensures the best value for the taxpayer. The continued enhancements optimize Treasury market liquidity in primary and secondary markets. The U.S. Treasury market’s liquidity and performance versus global peers is evidence.
While you voted for a $5 trillion tax hike on everyday Americans, the Working Families Tax Cuts continue to deliver for families and workers across the country. The average refund this filing season was over $3,400, an increase of 11 percent over the previous year. More than 30 million workers claimed No Tax on Overtime, more than 7 million claimed No Tax on Tips, and more than 37 million seniors claimed their enhanced deduction. More than 34 million families claimed the permanently enhanced Child Tax Credit, and millions of families are utilizing Trump Accounts to unlock a new savings vehicle for children. All of which you voted against.
These results are made possible by the employees of the Department of the Treasury, who are working around the clock for the American people. Unsurprisingly, you have responded by criticizing their dedication and aptitude for the job in a recent interview.¹ Despite your malign characterization, the Domestic Finance team you alluded to in your interview is fully staffed relative to historical levels. It is ironic that you have voted against every presidential appointee for a position at Treasury, no matter how impressive the qualifications for the role. Given your newfound interest in Department personnel, I challenge you to reverse course and thoughtfully engage with future nominees and support their confirmation.
Finally, my offer of a Foreign Exchange for Dummies tutorial still stands and if you receive a passing grade on the Yale metric, not the Harvard curve, I would be happy to also include a Fixed Income for Dummies.
Sincerely,
Scott Bessent
Then he finished with a handwritten note ✍️
Happy Indigenous Peoples’ Day in advance to you and your family.
💀
Washington!
Ballots are already on their way.
Vote for these FIVE Supreme Court Candidates!
Do not leave your ballot empty- this is critical to keep the WA Dems and Fentanyl Ferguson in check!
The top 1% earned 21% of the income and paid 38% of the income tax.
The bottom half earned 12% and paid 3%.
The top 10% carried 70% of the entire federal income tax. It can’t get any more progressive than this.
“Tax the rich” already happened. The rich are the tax base, and they still get told they don’t pay their fair share.
Which is why they’re now moving to expropriating wealth.
@WizardCM Please explain in detail WHY Stargate is "overdue for a female showrunner"
What about the showrunner having ovaries leads to the series being enhanced?
Or, why does having a male showrunner make it worse?
Again, details please....unless, you're just posturing