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Did you know about the 12 USC 531 exemption? It's in the US code on house.gov. Effective October 1st, 2023, Federal Reserve Banks, their capital stock, surplus, and income are exempt from federal, state, and local taxes.

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Speaker 0 confronts Speaker 1 about a question they appear to be dodging. The discussion centers on the Healey administration and Beacon Hill lawmakers proposing to charge Massachusetts taxpayers for SNAP and direct cash assistance for noncitizens living in the state. Speaker 1 notes that, as the governor stated when she established the task force they are part of, Massachusetts has done this before and provided state-funded benefits to immigrants, and it can be done again. The conversation recalls Massachusetts’ history: from 1997 to 2002, the state did provide those benefits, but Governor Mitt Romney eliminated them. Senate Bill 117, sponsored by Sal Di Domenico, has been voted favorably out of committee and referred to the Senate Committee on Ways and Means. State Representative Antonio Cabral offered testimony for the House version of that bill. Afterward, they caught up with him to ask a question. Speaker 0 asks whether such benefits would make Massachusetts more of a magnet for people, drawing more individuals to the Commonwealth, as has been seen with other policies like the right to shelter law. The question is specific: if more benefits are offered to noncitizens, how long would they have to be residents to qualify? The question asks, “How long would they have to be a resident for?” and emphasizes the concern about potential magnet effects. Speaker 1 asserts that they did not need to look up the answer because it is known: there is no length-of-time requirement to be considered a Massachusetts resident. Cabral’s dismissive attitude toward the question is framed as a warning that another magnet could be on the way if taxpayers do not speak out on the issue. The transcript underscores debate over whether noncitizen benefits should be funded by state taxpayers and the potential implications for residency and migration, highlighting a political contention around the policy and its potential allure.

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At the start of the 20th century, America was the richest country. We used tariffs to defend our workers from unfair trade policies and had no income tax. Foreign companies paid to sell to America. Now, we have the Internal Revenue Service, charging us internally. Politicians who can't manage money keep taking more from us. Donald Trump plans to fix this by creating the External Revenue Service. Foreign companies will pay to sell to the U.S. If they want to compete with American workers, we shouldn't tax our own people. This will ensure that no bureaucrat will cut your benefits.

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If you're a billionaire, like Elon Musk, you might benefit from tax cuts.

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If you earn less than $400,000 a year, your federal taxes won't increase. I managed to achieve this without raising taxes on the middle class. Additionally, I successfully reduced the federal budget by $1.7 trillion in just two years.

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The US government is using BlackRock to house illegal immigrants in New York, paying homeowners $125 per migrant per day. With BlackRock owning many properties, they could potentially house multiple migrants, earning significant monthly income. This arrangement benefits both BlackRock and the migrants, with the government guaranteeing the payments. The influx of migrants into New York is incentivized by these programs, creating a profitable situation for BlackRock until the census.

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An executive order launches a self-deportation program for illegal aliens, providing free flights to any foreign country via an app called CBP Home. An exit bonus will incentivize self-deportation, saving taxpayers billions, and eventually trillions, of dollars. Remaining illegally in America will result in severe consequences, including jail time, financial penalties, property confiscation, wage garnishment, imprisonment, and deportation at the government's discretion. Illegal aliens are encouraged to book a free flight out of America, but those who are "really good" may be helped to return later.

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"California says you're free to leave unless you take your money with you." "Think you can escape California's taxes by moving? Not so fast." "Lawmakers are floating exit tax legislation targeting residents who move especially the ones taking assets, businesses, or retirement savings." "You leave, they still bill you." "One proposal? Track your income for ten years after you leave." "Another? Charge a state loyalty tax for moving before retirement." "Versions of this have already been introduced." "The reason? California is hemorrhaging high earners and the tax base is collapsing." "Lock the exits." "You're free to go. But they're making sure your money stays." "Tag someone thinking about leaving." "Comment EXIT if you leave tomorrow if you could." "Follow California Exodus files." "Because if you need permission to leave, you're already not free."

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The US government is using BlackRock to house illegal immigrants in New York, paying homeowners $125 per migrant per day. With BlackRock owning many properties, they stand to profit significantly. Incentives in New York make it attractive for migrants to go there. This arrangement is likely to continue until the census.

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Income taxes were nonexistent in America until 1913, yet the government functioned well. They are seen as a significant fraud against the public. Although the Constitution initially forbade income taxes, an amendment allowed them. This system shifts the burden of revenue collection onto citizens, who must complete extensive paperwork annually. Essentially, individuals do the work of providing documentation while the government simply collects the money. This situation is viewed as a clever deception on the unsuspecting public.

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Tariffs could replace income taxes. This idea stems from historical context, as the U.S. was wealthiest in the late 1800s under President McKinley, known as the "tariff king." He eloquently advocated for tariffs, emphasizing the need to protect American jobs, factories, and families from foreign competition. The message was clear: foreign entities should pay a significant price to operate in the U.S. to safeguard domestic interests.

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Today, nearly half of every dollar earned in the U.S. goes to taxes, often unnoticed because they are embedded in business costs. Politicians advocate for taxing businesses to help the average person, but these taxes ultimately increase product prices, acting as a hidden sales tax. There are numerous such taxes affecting consumers. Additionally, there is a call to raise corporate taxes to ensure that large corporations and billionaires contribute their fair share. While success is not criticized, the emphasis is on the importance of equitable tax contributions from those who can afford it.

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Charleroi, Pennsylvania, with a median income of $26,000 and a population of 4,000, has received 2,500 Haitian immigrants who mostly have protected status in the U.S. Small towns often justify accepting immigrants for economic reasons, citing open jobs that Americans don't want. However, in Charleroi, a factory is at risk of closing, which would devastate the town and cause job losses. Residents are trying to prevent the closure. The influx of immigrants, equivalent to over half the town's population, is creating issues, especially given the town's existing economic struggles. This situation is a criticism of the system, not of any individual refugee. Introducing a large number of people into a small, low-income town already facing job losses will cause problems.

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A migrant family of four in New York receives significant benefits, including over $20 a month in freebies, $500 a night for hotel stays, $130 a day for food, and just $5 a month for their two kids in public school. This doesn’t include additional perks like $1,000 cash gift cards from Mayor Adams, free healthcare, free phones, free legal assistance, and $400,000 in college tuition for dreamers. In contrast, working taxpayers in New York struggle to afford housing, paying around $1,000 for small living spaces. The speaker highlights their own 80 square foot apartment, which costs $1,754.

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The speaker asserts that Bad Bunny speaks for himself, not Latinos in general, and that while Bad Bunny may be an amazing musician, his political views are garbage. The claim is that Bad Bunny is “part of the political party that wants independence for Puerto Rico” and holds extreme leftist views, described as “Think AOC with auto tune.” The speaker, identifying as a gay man, says Bad Bunny is pandering to the gay community inauthentically and pushing hyper-feminization as a role model for boys. The critique highlights perceived hypocrisy: Bad Bunny advocates for Puerto Ricans to give up their US citizenship and passports while he lives in a Malibu mansion, flies private, and travels internationally. The speaker argues that if Puerto Ricans should relinquish citizenship, Bad Bunny should lead by example. He notes Bad Bunny’s stance against the United States while benefiting from it, stating Bad Bunny “is out here selling we should hate America” yet lives the American dream. Further contradiction is pointed out: Bad Bunny supposedly supports giving green cards to illegals while criticizing U.S. citizenship, with the speaker calling this a walking contradiction. The speaker emphasizes the benefits Puerto Ricans have from US citizenship, including being able to go to any state without hassle, and asserts that Puerto Ricans have a “golden ticket.” The accusation continues that Bad Bunny wants to remove that privilege while himself contributing to the American economy through money, American banks, Nike/Adidas deals, and a luxury lifestyle funded by capitalism. The speaker mentions that 48% of Latino men voted for Trump, challenging Bad Bunny’s demographic assumptions and questioning which audience he targets. There is a claim that Bad Bunny criticizes President Trump but fails to call out corrupt governments that Latinos are fleeing from, suggesting this omits context that would fit Bad Bunny’s agenda. The speaker claims Bad Bunny’s wealth comes from American banks and American companies, implying hypocrisy in fighting capitalism while benefiting from it, and asserts that many Puerto Ricans have built lives in the United States and serve in the military. The speaker concludes that a great artist can also be a terrible political influence, and that Bad Bunny’s behavior can be hypocritical while performing in the United States and demonizing the United States. The audience is invited to comment on whether Bad Bunny’s performance in the U.S. is hypocritical given his stance. The message ends with a closing, “And as always, love you guys. Peace.”

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Speaker 0: In America, we don't have a tax problem. We've got a third world problem. This is not an exaggeration. The United States collects over $2,400,000,000,000 in income taxes every year and then burns $1,500,000,000,000 through fraud, waste, and third world robbery. If the elites actually did their jobs and cut out the waste, the government would only need about $900,000,000,000 to function. And here's the crazy part. That would mean anyone earning under $500,000 a year could pay zero income tax, and everything would still be fully funded. So if this money isn't funding our future, whose dream is it really building? Look at Minnesota. The Somali daycare scandal gave us the answer. Billions of dollars you worked for, money meant to feed hungry kids, was diverted through fake daycare centers, phantom meals, and paperwork designed to approve. Not question, no kids, no food, just checks. Your hard earned labor was turned into Lamborghinis, beachfront mansions, and luxury vacations most of us will never experience even after a lifetime of honest work. On top of that, your tax dollars were routed to foreign organizations The US Military is fighting. Let that sink in. We went from defending liberty to bankrolling the threat. That's not compassion. That's collapse. And when systems fail like this, they don't admit mistakes. They don't apologize for wasting your money. They dig deeper into your pockets to fund their failure.

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California is considering implementing a wealth tax, which would impose a 1% tax on individuals with over $50 million in assets and a 1.5% tax on billionaires. The tax would also fund private attorneys to sue wealthy Californians for allegedly underreporting assets. The state is facing a $68 billion budget deficit and has recently announced free healthcare for all illegal migrants. While a 1.5% tax may not seem significant, it effectively confiscates almost a third of rich people's money. This could lead to an exodus of wealthy Californians to states like Florida or Texas. Other progressive states may also follow suit with similar tax measures.

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Democrats plan to expand the IRS with 87,000 new agents, according to the administration's treasury department. One speaker claims to have not paid federal income taxes for 30 years, blaming international bankers and the Federal Reserve. Another speaker criticizes Congress for implementing income tax in 1909 and questions why technological advances haven't made everyone prosperous. They propose a plan to drain the Washington DC swamp. The same speaker claims to be the number one NMD IRS and pays taxes, but also mentions voting for Barack and Hillary as an American thing to do.

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A year ago, Javier Milei, a libertarian, was elected president of Argentina, promising to drastically cut government spending. Despite being labeled a far-right radical, he supports free trade, LGBTQ rights, and minimal government intervention. Upon taking office, he faced a 40% poverty rate and over 200% inflation. Critics doubted his ability to succeed, but Milei's approach of significant cuts has begun to show results. He eliminated nine ministries, reduced government spending by 30%, and lifted rent controls, which tripled apartment supply and halved prices. Although challenges remain, including ongoing inflation and poverty, Milei's policies have led to a budget surplus for the first time in 15 years. His success suggests that substantial government cuts can lead to recovery, inspiring discussions about similar approaches in other countries.

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High-income individuals avoid high taxes by sending money overseas, impacting job creation and small businesses. Increasing taxes will drive more businesses overseas, leading to job loss and economic challenges for those unable to relocate.

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Before the tax cuts for the rich, those making over $100,000 paid 30% of taxes. After the cuts, they paid 65%. Those earning under $5,000 went from paying 15% to less than 0.25%. Despite facts showing otherwise, critics claim the rich benefited greatly, while ordinary earners paid little tax. Millionaires' tax share rose from 4% to 19%. Critics dismiss these changes as mere "trickle-down" effects.

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The speaker discusses the decision to move the company's headquarters from California to Florida. They explain that the move is driven by a responsibility to shareholders and a desire to avoid funding a state government that goes against their values. The speaker also highlights the negative impact of high taxes and overburdensome regulations in California. Moving to Florida will result in significant cost savings, estimated to be at least $1 million and potentially tens of millions of dollars annually. The move will also allow the company to focus on growing the business and providing effective solutions to consumers.

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I own 12,000 rental units using debt to minimize taxes. Taxation is seen as a Marxist concept, with progressive income tax aiding communism. America was tax-free until 1913 when the IRS was established. I legally avoid taxes, while hard workers face higher taxes, resembling communism. It's our duty as Americans to resist paying taxes, as outlined in the Communist Manifesto. Translation: I own 12,000 rental units using debt to minimize taxes. Taxation is seen as a Marxist concept, with progressive income tax aiding communism. America was tax-free until 1913 when the IRS was established. I legally avoid taxes, while hard workers face higher taxes, resembling communism. It's our duty as Americans to resist paying taxes, as outlined in the Communist Manifesto.

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Many federal workers have not returned to the office since COVID, with about half still working from home. They continue to receive paychecks while some have negotiated to be in the office just one day a month. This often results in employees coming in only on the last day of one month and the first day of the next, effectively working in the office for only two days every two months. Many have moved to areas with a lower cost of living while maintaining their government salaries. There are concerns about the productivity of these remote workers and the implications for taxpayers, especially if they are not contributing to the nation's progress while working from home.

The Joe Rogan Experience

Joe Rogan Experience #1002 - Peter Schiff
Guests: Peter Schiff
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Joe Rogan welcomes Peter Schiff back to the podcast after three years, discussing Schiff's move to Puerto Rico. Schiff explains that he relocated to escape harsh winters in Connecticut and to take advantage of Puerto Rico's tax benefits, including zero federal income tax on local earnings and reduced corporate tax rates for businesses. He highlights the appeal of Puerto Rico's Act 20 and Act 22, which attract entrepreneurs and investors. Schiff expresses concern about Puerto Rico's push for statehood, arguing that it would worsen the island's economic issues by imposing federal taxes and increasing reliance on welfare. He believes that Puerto Rico needs more entrepreneurs and less government intervention to improve its economy. The conversation shifts to Schiff's asset management company, which he moved to Puerto Rico in 2013. He describes the vibrant community of expats and the benefits of living in a tropical environment. Schiff discusses the challenges Puerto Rico faces, including a history of government mismanagement and debt, and emphasizes the need for economic freedom and less government control. Rogan and Schiff then delve into the topic of minimum wage laws, with Schiff arguing that they harm employment opportunities for low-skilled workers. He believes that abolishing the minimum wage would allow more people to enter the job market and gain valuable experience. Schiff criticizes the government's role in creating economic problems and advocates for a free-market approach to job creation. The discussion transitions to healthcare and the impact of government regulations on costs. Schiff argues that government involvement has led to rising healthcare expenses and that a free-market system would provide better, more affordable care. He critiques Obamacare for its inefficiencies and the unintended consequences of its policies. Finally, the conversation turns to cryptocurrencies, particularly Bitcoin. Schiff remains skeptical, arguing that Bitcoin lacks intrinsic value and is not a viable form of money. He believes that gold is a superior store of value and that the free market will eventually return to a gold standard. Schiff promotes GoldMoney as a platform that allows individuals to own and transact with gold, emphasizing its advantages over cryptocurrencies. Throughout the podcast, Schiff maintains a strong libertarian perspective, advocating for individual freedom, limited government, and the importance of sound money. He concludes by encouraging listeners to consider gold as a stable and reliable alternative to fiat currencies and cryptocurrencies.
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