Politics

[275r7x57]

After seeing Mar a Lago, I certainly agree. That decor is from a long gone era.

Just me, but I personally thought Mar a Lago was quite classy and elegant.

 

[deewayne2003]

Former Marine and licensed to carry civilian engaged the Boston shooter beside the State trooper; both fired their weapons both striking the shooter.

That information was per the Massachusetts State Police press release but conveniently left out of MSM coverage.

 

[275r7x57]

Not to mention with the child tax credits being an un-earned credit there are many people who make a profit off of filing their taxes with little or no income.

This is especially true for illegal immigrants who will either file a return with an alternate EIN so they can take in many thousands of dollars; or sell their anchor babies SS# to someone else to claim it.

There is a whole industry hidden in plane sight to help illegal immigrants file returns;hence why the large national tax services have their “refund anticipation loans” and or debit cards.



I distinctly remember when that came out in elementary school, life imitating art on a cosmic level.

The history of corruption in California is beautifully captured by a quote from Mark Twain describing the shotguns carried on stage coaches……

“Usually of 10ga and the barrels cut short so the shot pattern scatters quicker than a charge of bribery in the California senate.”

I have a relative that we do not claim, who works for a company that caters to the lower income bracket. The company specializes in loaning money on people’s tax refunds at high interest rates, so they can have instant cash, instead of waiting for the refund to deposit.

I remember reading somewhere that 70% + of the bottom 50% receive refunds. It always amazed me how someone that earns or produces nothing receives a refund.

 

[Brent in Az]

And the democrats didn’t even show up !

Why would they? Biden gave Fauci a preemptive pardon because they all knew he was a guilty sleazebag.
Fauci gave the Democrats an avenue for fear and control over the masses. They liked it.

 

[Brent in Az]

CIA spin doctors going full denial

 

[Brent in Az]

The dirtiest 3 letter agency in the country raids Tulsi Gabbards office.

 

[Tanks]

Here is an interesting article which can also double as A-10s obituary.

The A-10 Warthog isn't pretty and doesn't fly fast. Pilots swear by it. — San Antonio Express-News

A stubby, slow-flying, decidedly unglamorous aircraft played a vital role in one of the most dramatic episodes in the Iran War — the rescue of two U.S. airmen shot down over southwestern Iran in early April.

apple.news

 

[Red Leg]

The dirtiest 3 letter agency in the country raids Tulsi Gabbards office.

Apparently this did not happen though Fox ran with it as well.

 

[WAB]

Saudi oil giant Aramco sees first-quarter profits surge 25% by shifting exports to its East-West Pipeline​

https://www.marketwatch.com/story/saudi-oil-giant-aramco-sees-first-quarter-profits-surge-25-by-shifting-exports-to-its-east-west-pipeline-fd2a9fe9

This is a very interesting article. I mentioned a while back that the Saudis were working to get this line back to full capacity. Apparently this has happened. What is even more interesting is that they have dramatically improved export capabilities at Yanbu. They can now load out at 5 MM BPD inclusive of VLCC’s and ULCC’s. (Very and ultra large crude carriers). However, the Suez cannot handle ULCC’s and VLCC’s have to be light loaded to transit. Any cargoes bound for Western Europe or NA have to sail around the horn, which is the same as Ras Tanura originated oil.

This is important as it reduces the importance of the Straight of Hormuz in global oil trade.


“Aramco’s first-quarter performance reflects strong resilience and operational flexibility in a complex geopolitical environment,” Aramco President and CEO Amin H. Nasser said in a statement, adding that the company’s East-West Pipeline, which runs across Saudi Arabia from its Eastern oil fields to the Red Sea, is now operating at its maximum capacity of 7 million barrels of oil per day. Nasser said the pipeline is “helping to mitigate the impact of a global energy shock and providing relief to customers.”

 

[Pheroze]

Latvian PM Evika Silina resigns over response to drone incursions

Drones bound for Russia crashed down in Latvia last week, prompting a political fallout.

www.bbc.com

This woman kicks ass. I think I love her

 

[deewayne2003]

Latvian PM Evika Silina resigns over response to drone incursions

Drones bound for Russia crashed down in Latvia last week, prompting a political fallout.

www.bbc.com

This woman kicks ass. I think I love her

Mind describing the article that is hidden behind a pay wall?

 

[Altitude sickness]

That chart is a little misleading because of the range within the 1%.

I don’t have the numbers information if me but last time I liked at it prior that mage $500-700k pay a much larger percent than those above them. There are all kinds of mechanisms that the very wealthy have that just aren’t readily available even to the wealthy.

I’m not saying redistribute wealth butch there is an argument that the top .1% should carry a little more weight.

It’s isn’t about raising rates but just level out the payments a bit.

The tax code is very complicated for a reason. The left often complain about the percentage the top 1% pay. Because they often don’t have “income” and use other mechanisms for drawing liquid assets.

But day in and day out they contribute by other means. Property taxes, wealth taxes on high dollar purchases. Even if a corporation buys the asset. It pays the tax.

Warren Buffet often brags that his secretary pays more in Taxes than he does. But he lives in a tiny house and never took much income. However, recently he’s been dumping stocks and I’ll guarantee somebody paid tax on that. Whether it was him or a corporation, somebody dumped a lot of money into the US treasury. We can play word games and say, Warren Buffett didn’t pay those taxes, but some entity did.

It’s so muddled that each side of the “fair” tax argument can get what they need from the facts. But directly or indirectly the 1-5 percentile contribute more than the taxpayers below.

P.S. a quick search.
“Berkshire Hathaway, the company led by Warren Buffett, paid the taxes on the massive stock sales, specifically highlighting a record $26.8 billion in federal income tax for 2024. These taxes were paid on huge gains, including massive sales of Apple stock, with the company often citing a 21% federal corporate tax rate”

So it can be argued that Warren Buffett didn’t pay the tax. but 26 billion less was put Warrens companies pocket. either way you look at it, the treasury got 26 billion in taxes in 2024 from his company.

 

[Altitude sickness]

The MK Ultra operation is another one of those that was brushed off as conspiracy theories, until too many stars aligned and started making sense by looking in the rearview mirror.

Some of the operations under MK Ultra are just MIND BLOWING ( pun intended).

 

[Russ16]

The tax code is very complicated for a reason. The left often complain about the percentage the top 1% pay. Because they often don’t have “income” and use other mechanisms for drawing liquid assets.

But day in and day out they contribute by other means. Property taxes, wealth taxes on high dollar purchases. Even if a corporation buys the asset. It pays the tax.

Warren Buffet often brags that his secretary pays more in Taxes than he does. But he lives in a tiny house and never took much income. However, recently he’s been dumping stocks and I’ll guarantee somebody paid tax on that. Whether it was him or a corporation, somebody dumped a lot of money into the US treasury. We can play word games and say, Warren Buffett didn’t pay those taxes, but some entity did.

It’s so muddled that each side of the “fair” tax argument can get what they need from the facts. But directly or indirectly the 1-5 percentile contribute more than the taxpayers below.

P.S. a quick search.
“Berkshire Hathaway, the company led by Warren Buffett, paid the taxes on the massive stock sales, specifically highlighting a record $26.8 billion in federal income tax for 2024. These taxes were paid on huge gains, including massive sales of Apple stock, with the company often citing a 21% federal corporate tax rate”

So it can be argued that Warren Buffett didn’t pay the tax. but 26 billion less was put Warrens companies pocket. either way you look at it, the treasury got 26 billion in taxes in 2024 from his company.

That’s very true.

I work on tax policy for a living so I have a good understanding of the tax code. I agree they the top 1% pay most of the taxes.

But it is also true that heaviest burden is at the bottom of the 1%.

I’m not suggesting a major overhaul of the system to redistribute wealth. But I do think there would be benefits to balancing some of the payments within that top 1%.

 

[Altitude sickness]

There is an unwritten or unproven natural law of the universe. “You get what to reward.”

We want people to be successful and to be ultra wealthy. We should reward that. Not stifle it or punish it.

What is gained by an entire population being equally poor?

 

[mdwest]

But it is also true that heaviest burden is at the bottom of the 1%.

Attempt to explain this part to me like I am a 3rd grader (I wont be offended..)..

Im not tracking or undertanding how the bottom 1% that generally pay no taxes (and/or get refunded all that they paid in, plus some..) are carrying the heaviest burden..

 

[skydiver386]

What is gained by an entire population being equally poor?

Socialism.

 

[rookhawk]

That’s very true.

I work on tax policy for a living so I have a good understanding of the tax code. I agree they the top 1% pay most of the taxes.

But it is also true that heaviest burden is at the bottom of the 1%.

I’m not suggesting a major overhaul of the system to redistribute wealth. But I do think there would be benefits to balancing some of the payments within that top 1%.

I'm far less concerned about what the top 1% (Roughly 650k-$800k income and above) gets away with than what the thieving bottom 50% get away with. We can establish the various value-adds the 1% provide to society and we can show the additional taxes they pay on their corporate interests beyond their personal taxes. What we cannot demonstrate is how half of America is entitled to get all the benefits of a society they have not paid one cent to build. Since half of society never gets a bill, they want more freebies that will be paid by fewer and fewer people at the top.

As a 2%-er that pays his taxes and responsibly saves 25% of his income, after taxes it leaves our family of 5 to live off of about $80k per year after insurance/insurance/insurance and insurance. We can live off that by living a middle-middle class lifestyle where we cut coupons, shop at discount stores, aggressively budget, and we drive 15 year old middle-class vehicles. This is all possible because we carry zero debt of any sort.

The reward for paying the taxes for the deadbeats? My kids will receive ZERO student aid or college grants. In addition, my kids are told that their parents should pay $80k in parental contribution per student, per year for their education even though that number is more than our net income. Owning our home outright further punishes our children's student aid. Carrying no debt further punishes them. Saving 25% of our income means we have a brokerage account for the excess beyond 401k limits which is earmarked for retirement, but is used punitively against children's ability to get student aid.

Is it worth it? It's worth it. We are not slaves to government. We do not pay our bills with borrowed money. We are raising fiscally responsible people that will select an education and lifestyle within their means.

Most shake their head and suggest we just go into massive debt on a million dollar vacation house that would make us poor, which in turn would reduce my children's college costs via FAFSA formulas and would reduce our taxable income due to interest deductions.

We just grit our teeth, stay in our lane, and pay our taxes living within our means. But I think I can speak for all the working professionals and mid-sized business owners that this is not going to be sustainable and the producers are growing tired of funding everyone else's lifestyle off our backs.

What government fears most is people like me will deploy all of my capital in the next "2008" style economic disaster, becoming very wealthy preying off other's irresponsibility. That is why the socialist democrats are so eager to tax assets, tax savings, tax inheritance, and tax unrealized gains. It is the final step to prevent climbing the social ladder and creating hereditary wealth.

 

[Brent in Az]

Medical examiners are ruling the man who lost his life at the Denver airport as a suicide.
If that's the case,I feel bad for the dude that he couldn't get help, but there are better ways to off yourself then to be sucked into a jet engine.

 

[deewayne2003]

Attempt to explain this part to me like I am a 3rd grader (I wont be offended..)..

Im not tracking or undertanding how the bottom 1% that generally pay no taxes (and/or get refunded all that they paid in, plus some..) are carrying the heaviest burden..

I believe he was saying that the bottom portion of the1% is paying the lions share of taxes for the entirety of the 1%.

Or the 1% is paying a disproportionate amount of taxes compared to the .001%