ARE TAXES LEGAL?
Can an Investment Banking Trust Circumvent Economic Government Tyranny?
Your government is robbing you. Yes, you read it right; the government is there to protect its citizen from theft, but what if the government is the thief? How and who is going to protect us? With this article, we'll let you ask a series of questions to yourself that will make you think of how corrupt for example the U.S. government is and how it traps its citizen in the never-ending loop of TAXES.
Have you wondered whether you ever signed any contract or an agreement with the elected government to take a significant chunk of your earnings, property or real estate, ancestral will, etc., by simply just living in that country?!! We bet you haven’t, yet you voluntarily file your taxes; if you don’t, you’ll evade taxes which is a felony, and it can put you in prison for up to 5 years.
The next question you should ask yourself is, “how come some countries offer nil to minimal tax liability such as Dubai, Andorra, Liechtenstein or the ZERO TAX Dominican Republic, where countries like America can take (steal) more than one-third (37%) or Germany up to 58% of your income?!!”
Why is federal tax law so complex?
What is wrong with the global tax system?
Why do the wealthy pay less tax?
These fundamental questions should be highlighted in media, newspapers, books, etc., but those who shout out for these issues are often dangled.
WHAT ARE AMERICANS LIABLE FOR? WHAT TAXES DO AMERICANS HAVE TO PAY?
To begin the blame session, the complex nature of federal tax law will be the perfect start; Because the confusing process and types of taxes often overwhelm most Americans.
Income tax charges by federal, state, and local levels on every dollar you earn.
Sales tax, taxes on goods and services purchased. They vary by state and municipality.
Payroll tax, employees, and employers must contribute towards social security tax.
Medicare tax (similar to payroll tax) employees and employers are required to fund this program.
The list goes on…
Compared to higher-income residents, individuals and households with lower income tend to spend a more significant proportion of their income (earnings) to pay the tax. Hence it is safe to conclude that Taxes are regressive in nature.
WHAT'S WRONG WITH THE AMERICAN TAX SYSTEM?
Want a summary of this heading in one word? EVERYTHING! That's the answer, but for the readers to get a brief overview, here are the list of issues that are wrong with the American tax system:
1.) Unfair Distribution of the Tax Burden
The best way to explain this heading is by sharing the example of former President Trump, who paid no less than minimal income tax for decades.
When the country's president isn't paying what he is supposed to, it severely undercuts taxpayers' confidence in the system.
2.) Higher Benefits for Higher Tax Brackets
Higher tax rates are linked with higher benefits like:
Exemptions and exclusions for certain types of income—for example, tax-exempt interest paid on state and local government bonds
Special, lower rates for some income categories, such as capital gains and dividends
Deductions for a wide range of expenditures, including some business expenses
3.) Non-Income Taxes
Apart from high-income tax, the absurd system imposes taxes on payroll, estate, gifts, etc. These are often ignored, but they pose a similar tax issue.
4.) Unjust for the taxpayers
Often tax money is used to bail out failing companies, compensate the unemployed force, etc., which could be put to better use like a better healthcare system, free education, etc.
U.S. states’ sales taxes apply on average only to a third of the potential tax base.
The U.S. has a partial territorial system and does not exempt foreign capital gains income.
The real property tax burden is among the highest in the OECD.
HOW ARE TAXES ANY DIFFERENT FROM RANSOM?
The first income tax to be charged in the U.S. was to pay for the Civil war. And when the war ended, this tax was repealed. But like how a hungry shark could smell blood from a great distance, the Federal government got a taste for the revenue that income tax could raise.
America has always been a promoter of a free market and believes that competition is good for the economy. Then, why the greatest nation is posing fixed and mandatory taxes on all of its residents?
1.) The burden falls on the poor.
Corporate taxes have reduced from the past several years, but on the other hand, taxes on the poor have either stagnated or steadily increased, which proves the regressive nature of the tax system around the world.
2.) Kills small business
Tax competition only favors the rich and big corporations. The big corporations exploit legal loopholes to get away by paying a lower effective tax rate. Hence income tax burden ends up being hammered on the small businesses limiting their potential and lowering their motivation.
The lower tax rate for the big corporation also allows them to offer their products and services at a lower rate, which helps gain even more market. The same technique is used by companies like Wal-Mart and Amazon, who gained an unparalleled advantage over the smaller firms.
3.) Rich gets richer
Tax competition exacerbates the wealth gap between rich and poor, widening the wealth gap. And this is the exact opposite of what income tax intends to do.
ARGUMENTS AGAINST INCOME TAX
During the golden days, "British Raj" or Colonial America started collecting taxes from the residents in order to maintain the army, weapons, and arms. And after regaining independence and hundreds of years of the technological and economic environment, how different or "progressed" are we on the tax front? Forcibly imposing a tax on the citizens on account of living on their soul.
Over time, there have been many groups and individuals posing arguments against income tax. But the strength of corrupt officials and brainwashed residents have failed to recognize them. Some of the critical arguments are:
1.) Income tax discourages saving, investment, and production
Taking away an individual's disposable income is directly proportional to their decreased purchasing power.
Decreasing Purchasing power has a trickle-down effect on the whole economy as less purchasing power leads to fewer sales and growth (fall in demand) for the corporation, which leads to cutting down employees or fewer employment opportunities.
This vicious circle continues with no end, ultimately hurting the poor and disadvantaged section of society.
2.) Imposing taxes are the root cause of illegal activities
Having tax liability births activities like tax evasion, illegal smuggling, etc.
3.) It discourages people from working
as their hard-earned money will be ripped off them by the government
4.) Encourages idleness
Subsequently, people will realize that it is better to encash the unemployed benefits over working hard.
5.) United States citizens are the victim of "government-sanctioned extortion" everywhere they go!
American citizens have to file U.S. federal tax returns and pay U.S. taxes on their worldwide income, no matter where they live at that time.
6.) Compensation is not income.
Working-class, daily wage earners, employees are compensated for their time, skills, and expertise; hence they do not make a profit. Thus, we can argue that this exchange of skills and time for money isn't income.
America is violating its constitution, which, on the first hand, was made to protect its citizen.
7.) Violation of the 5th amendment
The government is forcibly collecting part of hard-earned incomes from the individuals, i.e., without the due process of law, and therefore it is unconstitutional.
5th amendment states that no person shall be “deprived of life, liberty, or property, without due process of law."
8. Violation of the 13th amendment
The 13th amendment outlawed slavery in the United States, but it looks like the U.S. is trespassing its constitution by forcibly collecting taxes from its residents.
WHAT ARE TAXES USED FOR!? TOP TAX FRUSTRATIONS FOR AMERICANS?
Forget the discussion we made above, and think about the factors tax money is used? The tax collected by the government is to be used for the public's welfare. But is the general public getting equally compensated by the high-quality services? Is education, health care, a safe living environment, etc., available to every American citizen? NO, instead, the living conditions in America are far less compared to other developed nations of the world.
Discrimination while providing treatment for horrendous covid-19
Declining employment opportunities
Corrupt government officials
Expensive education: graduate from college with a huge debt and burden of tens of thousands of dollars
Wealthy people and corporations not paying taxes
Senior care: According to OECD, Americans private spending on old-age care is nearly three times higher per capita than in Europe
Child care: Child care in the United States costs more than $12,000 annually for a family with two children. In some countries in Europe, child care is free. In others, they pay $1000-$2000 per year, depending on their income. i.e., in America, child care in America costs approximately 6 times more than in countries in Europe.
The list goes on…
It is safe to claim that our hard-earned money is forcibly collected from us, yet the basic needs and services are not appropriately catered. Hence a lose-lose situation for the masses.
TAX SYSTEM POST-COVID 19
Every economy is finding ways to fill the gap caused in their treasury due to covid 19 as it led to a massive fall in their earnings and exponential rise in expenses. And America's government under the leadership of Joe Biden is likely to do the following:
Raising income tax for individuals making over $400,000 annually.
Raising corporate tax from 21% to 28%.
Reducing tax benefits for pass-through businesses, such as partnerships or limited liability companies.
Raising capital gains tax for individuals earning over $1 million per year.
Those working hard to provide for their family and make a decent living and putting in efforts to build a business and generate employment, the government is punishing them for their productivity.
Imagine, one fine day, someone shows up on your doorstep and makes the following “business proposal”:
We go into a business partnership together. You put up all the money to open your new shop, you pay for all the inventory, you pay all employees, you work 12 to 16 hours per day and the “other guy” does NOTHING. At the end of the year your new “business partner” demands you to pay between 38% up to 58% of your hard earned money. Would you accept this kind of lousy “business proposal”? I bet you $100 Dollars that your answer to this question is “NEVER” in a lifetime you would enter into a business partnership like this! Right?
Wait a minute… What if the “other guy” threatens you if you do not pay up, you’ll be punished? Will you be willing to pay? Shouldn’t we expect a fight from you?! Or wouldn’t this be considered “MAFIA style techniques” to pay up for “Protection” or otherwise the MOB would demolish your shop…?
A similar scenario is with taxes when the government levies unnecessary and illegal charges known as income tax on you. So why do you accept these kind of lousy MAFIA deals with your own Government and voluntarily pay your income taxes? Because its the “law” or because you are “ignorant” and have no idea how to protect yourself from your own corrupted Government who is trying to bleed you dry with income taxes?
Can Your Investment Banking Trust Circumvent Economic Government Tyranny?
If you look at the information and insights on our current financial system, concerns and questions about how we navigate as a society while Government tyranny is coming down in full force, you will realize the important role of owning an Investment Banking Trust and the benefits of using cryptocurrencies for your business transactions. We share a common goal for all – achieving individual sovereignty and independence from Government tyranny. Owning an Investment Banking Trust with cryptocurrency payment facilities not only is the answer to escape economic Government tyranny, but to regain 100% individual sovereignty and personal freedom. We must start with an incorruptible foundation, which cannot be owned, issued or controlled by any man-made political authority; it must emerge organically as a transparent, voluntary ‘constitution in code’ decentralized from any Government authority or any Central Bank.
With your Investment Banking Trust you benefit from:
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Without proper knowledge and expert guidance, it is very difficult to rise above “taxes”; hence to combat this global problem, we at BancorpTrust, along with our sister company, Blockchain DigitalCity Bank & Capital Trust, is entrepreneurs best friends who offer a service of services all aimed to provide you a tax-free status.
The fight against your own money robbing Government is brutal, but our 30 years of fight against the “crooked tax system” is even more brutal. Experienced professionals aiding entrepreneurs all around the globe have come up with a robust and 100% legal corporate strategies, tools, expert guidance to achieve tax-free status for a lifetime.
In the last 3 decades, we have been operating in the field of finance and investment banking, which enables the middle class and retailers with the opportunity to compete against the big corporations, services like establishing cryptocurrency exchanges, setting up Investment banks, offshore banks, Licensed Investment funds, etc., at a very competitive cost.
Our highly experienced management team has NEVER paid any income tax for the last 32 years to any Government across the world, legally! You can benefit from our expertise and achieve exactly the same business benefits for your lifetime!
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With our array of services, we are reaching one step closer to defeating the global tax systems and if you want to benefit from it, contact us to book a private consultation today!!
Bankers Hall, 888 3rd Street
Calgary, AB T2P 5C5, Canada
"The tax code is a monstrosity and there’s only one thing to do with it. Scrap it, kill it, drive a stake through its heart, bury it and hope it never rises again to terrorize the American people."
"For a nation to try to tax itself into prosperity is like a man standing in a bucket and trying to lift himself up by the handle."
"Collecting more taxes than is absolutely necessary is legalized robbery."