Ariel (Prolotario1): We are Returning to the Gold Standard

Ariel
@Prolotario1

We are returning to the gold standard. 45+ states have already passed legislation that makes precious metals legal tender. Gold is God’s money and has intrinsic value because of it. Taxes were not supposed to last this long. It was supposed to be temporary to pay for the Civil War. The people who own the IRS have Puerto Rico address that allows them to earn income tax free from your enslavement.

International Taxpayer Advocate:

To request Taxpayer Advocate help, call:

Worldwide: Puerto Rico office:
Tel: (Spanish) 787-622-8930, (English) 787-622-8940
FAX: 787-622-8933

The Internal Revenue Service is a corporation, not a company, that was incorporated in the state of Delaware on July 12, 1933. This is also the legal nature of the scam in that due to the inherent nature of these corporations, when it comes to law, Common or Constitutional Law is nullified. This being due to the fact that Constitutional Rights do not apply in an equity court, a court of maritime law that MUST display a gold fringed flag applies ONLY.

Contract law supersedes individual and Constitutional Rights. In other words, whenever you sign anything, such as when you registered to vote, or signed your 1040 form, or even an application for a bank account or credit card at a Federal Reserve Bank, you are signing away your constitutional rights.

Once again.
If you buy this book https://inalienable-university.mn.co
If you go to this site. https://giannamiceli.com
If you follow this channel

You can get ahead of the 99% for a fee and never have to worry about paying taxes again. Gianna program is worth every penny. Your choice.

What Donald Trump is trying to do is something that should have been done decades ago. He is making it real hard for people to avoid voting for him. I wonder what Taraji P. Henson have to say about this since she has been complaining about her salary in Hollywood? Because she is very staunch in her opposition to a D. Trump administration.

Because I do not know why she is so compassionate about being broke by voting for Democrats who are responsible for the theft through tax laws that Joe Biden or Kamala Harris has no intention on changing to make her life easier.

https://finance.yahoo.com/news/trump-wants-eliminate-income-taxes-120018985.html

Trump Wants To Eliminate Income Taxes: Here’s How Much the Average Millennial Would Take Home Annually

Sean Bryant
Sun, Jul 28, 2024, 8:00 PM GMT+84 min read

During his presidential term, Trump instated various tax cuts, such as lowering individual and business rates, increasing the standard deduction and expanding family tax credits. Many of these provisions were found in the 2017 Tax Cuts and Jobs Act, which is set to expire in 2025.

It’s important to note that Trump does not claim any correlation to Project 2025. Trump himself has discussed the proposed policies listed in this article. Proposed Trump tax policies will directly impact the average millennial, making it important for you to understand what’s potentially in store.

Trump’s Income Tax Elimination Plan

Trump’s plans follow the thought that lowering taxes stimulates economic activity and federal revenue, taking on an inverse relationship. For one, Trump plans to cut the corporate tax rate from the current 21% to 20% or even 15%. This might incentivize many small businesses to change entity classifications. Even if the corporate tax rate doesn’t drop below 20%, Trump plans to preserve many of the existing provisions found in the 2017 Tax Cuts and Jobs Act.

Moreover, many of the policies of Trump’s tax elimination plan relate to the middle class. In a recent campaign stop, Trump advocated for eliminating taxes on tips generated by service workers. Data from 2018 shows that 6.1 million taxpayers reported over $38 billion in taxable tip income, equating to around $6,250 in taxes paid per taxpayer.

Trump has also suggested the replacement of personal income taxes with tariff increases. Although it’s still uncertain if payroll taxes would also be eliminated, no personal income tax at the federal level would profoundly impact millennials and the middle class.

The Impact on Millennials’ Wallets

One of the most impactful proposed tax cuts is the elimination of personal income taxes. Here’s a look at some data to see the impact of the possible elimination of income taxes.

The median weekly earnings for full-time workers aged 25 to 34 years old is $1,103. The 35- to 44-year-old age group reports a slightly higher median weekly earnings at $1,247. Taking the average weekly earnings of these two age groups gives us a rate of $1,175 per week for millennials. Multiplying this on an annual scale results in a gross income of $61,100.

Assuming the 2024 standard deduction of $14,600 is taken for a single filer, that leaves a taxable income of $46,500. Using the 2024 tax brackets, you would have a tax liability of $5,348. Trump’s proposed tax plan would eliminate this tax liability, putting over $5,000 back into the average millennial’s pocket! What could you do with an additional $5,000? How about save for a house, take your dream vacation or add to your rainy-day fund?

Solutions To Make Up the Revenue Deficit

The proposed elimination of service provider tips and personal income tax does not come without tradeoffs. Trump plans to subsidize the drop in income tax revenue with increased international import tariffs, specifically a 60% tariff on imports from China. In addition, Trump has suggested increasing tariff revenue by implementing a universal baseline tariff on all U.S. imports.

The impact of these increased tariffs could be price hikes on goods imported from countries outside of the U.S. These price adjustments may be passed down to consumers in the form of increased prices or added taxes. However, the goal of increasing tariffs is to stimulate domestic purchasing. This could create new small business opportunities within the United States and increase the amount of local goods available at a more affordable price.

In addition, many millennials would be saving money each year through the elimination of income taxes. But would the price of imported goods increase more than the amount saved from no personal income tax?

Say that you import about $10,000 worth of goods each year. If prices were to increase by 20%, you would pay an extra $2,000 annually. If you remember the example above, you are saving over $5,000 per year from eliminating personal income tax, resulting in a $3,000 net benefit.

Of course, this is a complicated situation and many factors play a part — so don’t count too much on that $3,000 before it’s in your bank account.

The Bottom Line

These proposed tax adjustments are still in their infancy. If Trump is elected, both parties will tweak and adjust, making it unclear what the future holds for income tax elimination. Nevertheless, there are bound to be some tax adjustments, regardless of which party is in office after November’s election.

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