Shrink the State. End the Fed. Balance the budget. Make a profit. Leave an inheritance.
Gary North
You read that right. It turns out that illegal aliens are required to file with the IRS. They got paid (illegally), but it is illegal for them not to file. Their employers did not file, since it was illegal to hire them. The illegal aliens have children. Each child is worth $1,000. This is a [...]
Continue reading →Sometimes a judge will decide to cancel a student’s debt. This is lagal for hardship cases. What students do not understand is this: the IRS regarded a canceled debt as taxable income. This young woman went on total disability. It was a legitimate cause. She had $91,000 in student debts. Now she owes the IRS [...]
Continue reading →In 2006, a law was signed that enabled the Internal Revenue Service to pay informants up to 30% of the unpaid taxes owed by an individual or a firm. The goal, obviously, was to increase revenues. People are afraid of being exposed. Whistleblowers (“snitches”) increase the likelihood of exposure. The snitches snitched. The IRS did [...]
Continue reading →Sometimes, Americans get the silly idea that the words “legal tender” on American coins mean legal tender. Then they try this stunt. They pay workers in silver coins at face value. This reduces the workers’ income tax bracket. The employer who tries this is risking a prison sentence. Variations of this story have been published [...]
Continue reading →You have hopes for your IRA or your 401(k) tax-deferred retirement plan. You are not worried about government confiscation. To explain what’s likely, watch this 7-second cartoon. Lucy is the government. Charlie Brown is an investor in a tax-deferred retirement program. Do you want the IRS to know what you own? How many bullion [...]
Continue reading →First, if you are salaried, you cannot get your 401(k) plan money out until you retire or quit. Second, if you are salaried, the IRA discriminates against you. Third, if you are salaried, it’s hard to ask for more money in a bad economy (like ours). Fourth, if you are salaried, you future depends on [...]
Continue reading →Well, it had to happen. Your credit report provides a number to tell lenders how good a risk you are. Staring in spring, it’s going to tell lenders a lot more than one number. It’s going to tell him all of your numbers. Last week, a company called CoreLogic introduced a new type of credit [...]
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