Too often we neglect to check in with our history and wise elders of the past as it relates to solving today’s problems. Today we will focus in on the U.S. income and payroll tax system relative to the wisdom offered by some figures from our past. Read More.
In 2017, the Tax Cuts and Jobs Act limited the state and local tax deduction (SALT) to $10,000. In states with high state income and property taxes, this resulted in a significantly higher federal tax bill for many high-end taxpayers. Read More.
If you report receiving any illegal money, you are admitting to breaking the law. In that case, you can be prosecuted, and in many cases the crimes to which you admit carry much more severe penalties than any prison sentence for failing to report the illegal money.
In every period of history in which people were suppressed, or even worse, by a government, those actions required the cooperation, or at least the acquiescence, of a portion of the population. Read More.
Today’s Chairman’s Report is written by Jade Walle. Jade is a partner of a CPA firm and is on the board of Americans For Fair Taxation. Jade explains how businesses will benefit from the FAIRtax which will enable Americans to accomplish even more. Read More.
The D.C. ruling class and their minions in Congress are ignoring the clear economic evidence about the harm that the income/payroll tax system is doing. Instead of recognizing that the rapidly escalating income/payroll tax evasion is clear evidence that the American people are demanding change, Congress is doubling down, wanting to make the IRS much larger so it can punish all of us and not just the people evading taxes. Read More.
To become law, the FAIRtax will need to pass by a majority vote in the House of Representatives, by a majority vote in the Senate and then be signed by the President. However, passing legislation in the Senate often requires more than a simple majority of 51 Senators in favor of a bill. Read More.
"The year was 2005, now almost seventeen years ago. President George Walker Bush had announced on January 7th the President’s Advisory Panel on Federal Tax Reform. Finally, I thought, the time has come." Read More.
The Merriam Webster Dictionary defines crony capitalism as: an economic system in which individuals and businesses with political connections and influence are favored (as through tax breaks, grants, and other forms of government assistance) in ways seen as suppressing open competition in a free market.
The problems at the IRS are rooted in the Internal Revenue Code itself. The very nature of the IRC makes it difficult to enforce without infringing on the basic freedoms that most Americans cherish. Read More.
Today’s Chairman’s Report is written by Jade Walle. Jade is a partner of a CPA firm and is on the board of Americans For Fair Taxation. Jade explains why the FAIRtax will enable Americans to accomplish even more. Read More.