Yesterday’s piece, which I was reluctant to post, seems to have gotten a stir going. Perhaps that’s to the good. But if you liked it, you’ll purely love the following video: a speech from the most admirable man in entertainment, Jim Caviezel:
I believe we see things the same way, which comes as no surprise.
I once had a set-to with a left-liberal whose fundamental assumptions included that “the needs of the State come first.” (Yes, you read that right. He wasn’t aware of the origin of that phrase. Nevertheless, he endorsed it heartily when I cited it to him. Draw your own conclusions.) Accordingly, he approved of any and every tax measure, whether for the revenue it might generate or the effect upon people’s earning, saving, and spending habits.
And so, unless he’s learned better since then, I imagine he’d approve of this proposal:
A wealth tax on billionaires is included in the latest version of Joe Biden’s “Build Back Better” agenda, but it’s a sure thing the real target is your retirement savings.
The so-called “Billionaire Income Tax” is being written by Senate Finance Committee Chairman Ron Wyden (D-Ore.) with “input from the U.S. Treasury Department and the White House,” according to SWFI.
“It’s not a wealth tax, but a tax on unrealized capital gains of exceptionally wealthy individuals,” U.S. Treasury Secretary Janet Yellen told CNN on Sunday.
That’s like saying you have a four-legged pet that eats kibble, barks, fetches, and looks exactly like a Golden Retriever — but it isn’t a dog.
Yellen told Jake Tapper, “I think what’s under consideration is a proposal that Senator Wyden and the Senate Finance Committee have been looking at that would impose a tax on unrealized capital gains, on liquid assets held by extremely wealthy individuals, billionaires. I wouldn’t call that a wealth tax.”
“Unrealized capital gains.” Do you know what that means, Gentle Reader? I do. It’s the increase in market value of the stocks and bonds in your IRA or 401(k). It’s the increase in market value of the home you own and live in right now. You would have to sell those stocks, those bonds, and that home to “realize” those gains and pay the “unrealized capital gains tax,” but what of that? The needs of the State come first!
But Yellen has called it a “billionaire’s tax.” In light of that, I must resurrect a passage about the debate over the income tax, from the dim, dark days of 1913:
The income tax is an excellent example: When the Sixteenth Amendment was being debated on the floor of the Senate, one of its opponents rose to ask the body what it could say to reassure the American public that this tax would not rise to seize some unconscionable fraction of their earnings — perhaps as much as ten percent! A pro-income-tax senator rose and replied that the country need never fear such a development: “The people would never allow it!”
I pulled that passage from this critically important Baseline Essay. Please revisit it, and reflect upon the implications for what Usurper Yellen is touting as a “billionaire’s tax.”
They are evil. They must be expunged to the last man. No prisoners and no mercy.
But what are the visionaries of freedom doing as the Usurpers methodically destroy the rights of American citizens? Why, they’re launching new social-media platforms!
As the government attempts to force the public to comply with medical tyranny and lockdowns, big tech is doubling down on censorship, configuring algorithms to bury information surrounding the coronavirus and vaccines.
In 2020, tech giants brazenly censored a sitting President of the United States with no repercussions, making it abundantly clear they are tied to the hip of the Democrat Party.
An end to Big Tech’s control over digital information flow is nowhere in sight amid politicians’ empty threats of antitrust legislation.
But a video, live-streaming and social media platform that champions free speech and cannot be taken down by big tech may be a game-changer.
The new platform, Sovren, is not only “a place of refuge for free thinkers,” but it is the first social media platform built on invincible blockchain technology, explains Sovren founder Ben Swann.
There are quite a number of social-media platforms already, including several that have openly declared themselves to be “no censorship” sites, but perhaps just one more will turn the tide. I mean, clearly Gab, MeWe, Minds, Mumblit, USA.Life, Parler, OurFreedomBook, GETTR, and FrankSpeech aren’t getting the job done!
I hear that President Trump is starting a social-media platform, too. Yay, team.
Jim Caviezel has it right: the storm is upon us. Moreover, it’s a Cat 5, so an umbrella won’t do you any good. Even staying hunkered down in the basement is unlikely to be worth much.
We must fight. Whether via passive resistance or active insurgency, we must fight. The Usurpers have left us no alternative. They have made it plain, with:
- their taxes,
- their vote fraud,
- their racism-shouting,
- their vaccine mandates,
- their assault on the dollar,
- their emasculation of the military,
- their indoctrination of our children,
- their flood of illegal alien immigrants,
- their strangulation of America’s energy supply,
- their pusillanimity toward America’s adversaries,
- and their vicious denunciations of anyone who opposes them,
…that they mean business.
Do we?
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Yeah, I’ve pretty much concluded that I need to move my TSA money out on an accelerated schedule. I have little need for it right now, but I’d rather take it, and be sure that I can get my grubby little hands on it, than risk losing it to government.
I figured out, a long time ago, that they are putting off those mandatory RMDs (Required Minimum Distributions), to make sure that the money stays in that one place, where it is vulnerable to being seized. I’d rather forego some interest, and make sure that I am able to reclaim SOME of it.
I figure that I can put a good part of it into tangible goods, and maybe even some property, far from government, and more defensible than what I own now. In good times, you want to have all your eggs in one basket. When the SHTF, you want widely distributed supplies and provisions.
I included your piece in my daily link submission to Gates of Vienna (as I’m including this piece as well this morning). Hopefully that drives some traffic your way.
Thank you – every link helps.
If they tax you on unrealized gains, then next year the market goes down and those unrealized gains disappear, how do you get your money back?
I can’t think of a better way to destroy all personal savings in the USA, which will have galactic-level unintended(?) consequences up the wazoo.
I went Galt so the impact of “unrealized capital gains” will not impact me unless they include my house. I foresaw this eventuality 11 years ago. I dumped my IRA and the government took 52% in taxes and fines. One of the best things I ever did. As Ann Barnhardt said: “if you can’t touch it, you don’t own it”.
It does seem to be building up speed. I think this coming winter will be a real game changer in peoples minds. While I’m fortunate enough to live in the Blessed South, to quote Game of Thrones, Winter is Coming and when people are freezing and can’t keep their families warm I think things will really get sporty. I guess time and cold will tell.
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