The IRS Gets One Right, But Don’t Expect Much Impact

June 30, 2011

CAIR’s (Council on American Islamic Relations) tax exempt status yanked by the IRS!

Hooray, it’s about time. Maybe the IRS is wising up. Hey, I’d even reconsider my stance on the FairTax (which abolishes the IRS among other things) if the tax-Nazis did more of this. Just kidding, I still favor the Fair Tax. And while we’re at it, I don’t think churches should be tax exempt either (Catholic pedophile priests comes to mind), but that’s another story for another time.

Just another peace-loving group of Muslims

CAIR is only one of many Muslim Brotherhood affiliated organizations with tax exempt status because they are so clever at the game and have pulled the wool over nearly everyone’s eyes as to what they are really all about (funding extreme Islamic dogma and forcing sharia law on America). But failure to make required tax filings, namely Form 990, providing an organization’s mission, programs, and finances –FOR 3 CONSECUTIVE YEARS might have exceeded even the IRS’s willingness to look the other way for certain groups enjoying a special favored status by our government and the majority of the media.

Oh I don’t expect them to go away. They’ll reinvent themselves (just like ACORN did) and be back in business before you have time to look up and understand the word taqiyya.

Aloha, Mikie

Black Friday Alternative

November 26, 2010

How appropriate to talk Fair Tax on the day labeled Black Friday as this busy shopping day relates to profitability for many retailers. Of course taxes and govt regs may have a little something to do with businesses not going into the black until late November. Ya think?

Anyway, I hate to shop. There’s no way in Hades I would ever go shopping on the day after Thanksgiving, but neither do I feel like blogging today, so I’ve found a perfect way -at least accomplishing for me, a break from blogging, and for you a quick easy way to start educating yourselves on the FairTax and other tax reforms that this country so badly needs.

I know I can’t seem to shut up about it, but if we don’t get on board and push a solution that makes sense we’re gonna end up with a VAT tax (like European countries, averaging 20%) or a national sales tax on top of our already horrific tax burden.

Enjoy today’s installment:  How will the FairTax help people who don’t hire an accountant? and tune in next Friday and every Friday (or see Tax Refprm videos under Categories in the side panel) for other informative video explanations of a great way to reform our taxes.

Spread the word by using the share links below, and go the site for more information.

Aloha, Mikie

Truth or Dare?

November 13, 2010

Secretary of State Hillary Clinton denies she’ll run for president in 2012 or 2016.

Ha, ya think?

Well I can’t imagine her not running, so I guess she’d have to take the dare if I was sitting in that circle.

Okay, what about this one?

Those demonizing the Fair Tax say that it wouldn’t be fair to ask Americans to pay an additional 23% in taxes at a time like this.

Well, that’s a total mis-characterization of what the Fair Tax is, so that’s another lie.

The Fair Tax is not an additional tax, it’s a replacement tax.

Unlike what’s pretty much guaranteed to come out of the bipartisan fiscal committee leaked in the news lately (a net tax increase for everyone), the Fair Tax eliminates all of these:

  1. Federal Income tax for corporations and individuals
  2. Social Security & Medicare taxes for employers and employees
  3. Income tax on capital gains
  4. Taxes on Dividends and interest income
  5. The Estate Tax
  6. The IRS!

Have I got your attention yet? Well maybe you noticed the dive the stock market took this week (the worst in 3 months!) starting with bad news from Cisco Systems whose share holders lost 16.5% of their value in an afternoon. Now before you scoff because they’re the ‘rich, white, evil people who invest in the stock market and deserve what they get’, please realize that if you have a pension, public or private, you may be a Cisco (or other corporate) shareholder too- you just don’t know it.

Ironically just last month, the CEOs of Cisco and Oracle authored a joint letter in the Wall Street Journal with a plea for lower tax rates for corporations who want to bring their overseas earnings back to the US. According to the WSJ letter, one trillion dollars is roughly the amount that could be repatriated to the US, but the Corp tax rate at 35% (the highest in the world!) is just too crippling so those companies tend to reinvest earning anywhere else -except right here in America. Most developed countries allow their corporations to bring foreign earnings home at a rate of between 0-2%.

Under the Fair Tax the corporate tax would go away (like all those listed above), replaced by a 23% consumption tax on all new goods and services at the point of sale. The federal government would prebate back to all consumers a monthly amount based on earnings (a refund if you will) so that effectively no one pays taxes on the necessities of life, so don’t be screaming it’s not fair to the poor.

Clearly a lot in our government’s financial house and the way revenues are generated has got to change and this is an idea worth serious consideration. Just don’t be taken in by the lies of an additional 23% tax on top of our already burdensome load, cause it ain’t true!

Aloha, Mikie

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