Balanced budgets and budget surpluses are a smoke and mirror trick. They also earn money when banks need to borrow from the Fed though their Discount window usually overnight loans to balance their books-- loans outstanding vs reserves on hand- meeting their reserve requirements - collecting interest on those loans. Every effort has been made by the Fed to conceal its powers, but the truth is the Fed has usurped the government. That's correct - interest paid to the Fed is paid back entirely to the Treasury minus Fed operating costs, and sometimes the Treasury gets back more than they pay for some reason. Your boss then figures taxes using the usual tax tables and the information included in your W-4. Since your commission represents your full pay, your employer should withhold state income tax at the same rate required for regular salary.
Ronald Reagan's Fourth Stateof the Union Speech - Wikisource We're moving ahead with Grace commission reforms to eliminate and iA We'remprove. Ronald Reagan - State of the Union 1985 3. That would not have been true. Apparently, something else actually pays for the cost of government services, with or without the government waste. The final report of the 1984 Grace Commission, convened under President Ronald Reagan, quietly admitted that none of the funds they collect from federal income taxes goes to pay for any federal government services. This I n f o Pack a l s o i n c l u d e s a packet of newspaper and magazine a r t i c l e s which provide a d d i t i o n a l information on t h e Grace Commission and i t s Summary Report.
The opinions expressed herein contain positions and viewpoints that are not necessarily those of the recipient, disseminator or others mentioned in the information. The Internal Revenue Service regards commission as supplemental wages, which are not regular wages. By the adoption of these principles, the taxpayers will be saved immense sums of interest. Nothing is for sale at WhatisTaxed. Some local governments require local income tax withholding, such as for city or school district taxes.
This chart doesn't specify what percentage of the revenue will be coming from income tax, but look at the huge difference between how much revenue is consumed now by interest on the debt and how much will be consumed by interest in 2040. See the national policy on money laundering at 31 U. In fact, not even close. Our survey studied the small as well as the major items of cost savings, items of broad national impact as well as those of a more localized nature. Fourteen percent of all income taxes is a lot of money.
I'm not going into it, period, but if any should care to make the study, you will be at first incredulous, then angered by the depths of deception under which the people of this country labor. So anyone who wants to criticize government spending should go right ahead. Resistance to additional income taxes would be even more widespread if people were aware that: o One-third of all their taxes is consumed by waste and inefficiency in the Federal Government as we identified in our survey. Bartley; Hildreth, Rodger Spring 1989. I love when people rattle off half truths, unsubstantiated claims and lies as if they were undeniable facts.
The Grace Commission found that those funds were being used to pay for interest on the federal debt, and income transfer payments to beneficiaries of entitlement programs like federal pension plans. The element that makes the bond good, makes the bill good, also. I often mention it on this website and in my articles see sig but nobody seems to care. He made the comment in response to a question about corporate relocations following a speech to the Greater New York Volunteer Committee, which promotes sales of U. The rules are equally mysterious to many government employees who are charged with administering and enforcing the law. Get a safer web browser 2.
This myth is easily debunked by just looking up the numbers involved. Your income tax is 100 percent voluntary tax, and your liquor tax is 100 percent enforced tax. I feel at this moment more anxiety for the safety of my country than ever before, even in the midst of war. When we say, no other rule or statute exists - for example, regarding , we show you how many files contain this important code term, and how we searched for it with a computer. Ronald Reagan's Fourth Stateof the Union Speech - Wikisource We're moving ahead with Grace commission reforms to eliminate and iA We'remprove. The Bankers own the earth.
By the adoption of these principles, the taxpayers will be saved immense sums of interest. He claims the checks go to a Federal Reserve bank, a private banking institution that has never been audited. The Grace Commission found that those funds were being used to pay for interest on the federal debt, and income transfer payments to beneficiaries of entitlement programs like federal pension plans. With future Government borrowing costs at 11 percent versus 10. That's correct - interest paid to the Fed is paid back entirely to the Treasury minus Fed operating costs, and sometimes the Treasury gets back more than they pay for some reason. If income tax weren't available to fund that interest, some other revenue would have to be used to pay it, and the programs that rely on that other revenue would suffer.
Sit down when you view it. The apex of the systems was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations. Sit down when you view it. The government operates on a deficit that is created from nothing by the Privately Owned Fed owned by the same folks who own the major commercial banks at interest, i. Examples Example 1 — Prior to the reporting period in which the Act was enacted, Company X did not recognize a deferred tax liability related to unremitted foreign earnings because it overcame the presumption of the repatriation of foreign earnings. Now that we have what was reallly said it makes sense.