IRS slams Bitcoin millionaires with new tax rules… Is gold next?

March 26, 2014
Sovereign Valley Farm, Chile

Bitcoin tax rules finally came to the Land of the Free yesterday. And I have to imagine there are some not-too-happy campers this morning, if they even know about it.

Bitcoin taxes were inevitable. I've written about this numerous times, and have even gone so far as to predict that the government will probably mandate special Bitcoin reporting on foreign disclosure forms.

A number of[...] Click here to continue reading

Totalitarian government at work

February 13, 2014
Santiago, Chile

The IRS scandal caused a massive uproar last year when it was revealed that the agency was deliberately targeting non-profit political groups solely based on their names or political themes.

One of those groups was called True the Vote, a grassroots, non-partisan organization that recruits and trains volunteers to monitor elections.

The founder and president of True the Vote, Catherine Engelbrecht, recently gave testimony to the House[...] Click here to continue reading

Check out the IRS’s stunning admission of its own mafia tactics

January 13, 2014
Santiago, Chile

In the 3rd century AD, Emperor Caracalla famously remarked of Rome’s tax policy:

“For as long as we have this,” pointing to his sword, “we shall not run out of money.” (Of course, Rome did run out of money. )

At the time, Roman taxation was so extractive that it drove people into poverty and desperation. Yet the government continued to forcibly plunder wealth at the point[...] Click here to continue reading

You and I would go to jail for this…

Trust Fund Theft
November 6, 2013
Bangkok, Thailand

Last week, the US Treasury Department released a statement amid great fanfare and triumph, that the federal budget deficit for fiscal year 2013 was 'only' $680 billion.

Yes, the sad state of affairs today is that a deficit of 'only' $680 billion is actually considered good news.

Now, I've spent a lot of time over the last week diving into the numbers to figure out the real[...] Click here to continue reading

IRS sets ‘inflation’ rate at 1.6%…

October 31, 2013
Sydney, Australia

Hot off the presses, the IRS just issued a notice of its annual inflation adjustments for the 2014 tax year.

According to the release, the inflation adjustment is 1.6%.

So now, for example, couples earning more than $457,600 will fall in the 39.6% marginal tax bracket, as opposed to $450,000 last year.

A single individual earning under $9,075 will fall in the 10% bracket,[...] Click here to continue reading

You won’t believe what the French are taxing now…

October 22, 2013
Sovereign Valley Farm, Chile

At our workshop in Chile some months ago, European MEP Nigel Farage blasted French President Francois Hollande as leading the pack "in the modern day Pantheon of idiots who are running countries around the world..."

You can see Nigel's scathing remarks below, about 35 seconds in to the clip:

Of course, the French president had recently introduced a 'hate tax' on its[...] Click here to continue reading

Four important estate planning steps you should consider

September 25, 2013
Sovereign Valley Farm, Pencahue, Chile

It goes without saying that parents want the best for their children... and that each generation wishes the next to be even more prosperous and successful.

For the most part, this has been the historical pattern since the Industrial Revolution; every successive generation has enjoyed an almost uninterrupted rise in standard of living, made possible both by the development of new technologies and the passing[...] Click here to continue reading

The Italian government really screwed this poor woman

August 26, 2013
Spoleto, Italy

The Villa where I've been staying for the last week is one of my favorite spots in the world.

When I first found it nearly two years ago, I couldn't believe it. The home is exquisite-- it's a 14-bedroom chateau situated on 25 acres of wine grapes and olive trees, and it's been in the same family for centuries.

Built hundreds of years ago by one of[...] Click here to continue reading

Friday humor: US Senate shows it has its priorities straight…

Market Place Fairness
May 17, 2013
Dhaka, Bangladesh

Well, you have to admit one thing-- the United States Senate certainly has its priorities straight.

Early last week they passed S.743, the Marketplace Fairness Act. This bill requires US-based online merchants to charge, collect, report, and pay sales tax to the roughly 9,646 jurisdictions within the Land of the Free which levy such a tax.

And while grounded in well-intended socialist dogma as a means to[...] Click here to continue reading

Check this out– IRS scandal is just the tip of the iceberg…

May 14, 2013
Manila, Philippines

Some days one can't help but look at the headlines and think of Ayn Rand.

With all the destructive measures by desperate governments from Cyprus to Argentina, it seems sometimes like we're reading from the pages of her seminal work, Atlas Shrugged.

But what we're seeing now seems to have far surpassed Atlas Shrugged. We're definitely into 1984 territory.

We've recently learned that the US[...] Click here to continue reading

US government wants six-year olds to shoulder the Social Security shortfall

No Social Security For You
Reporting from Santiago, Chile

In 1729, that Jonathan Swift (of Gulliver's Travels fame) penned a famous satirical essay from England entitled "A Modest Proposal." It's still famous to this day as mandatory reading in many a high school literature class.

As you may recall, Swift addresses the problem of the ultra-depressed Irish economy and mockingly advocates that the Irish should sell their children for rich Englishmen to eat. Lovely thought.

I thought[...] Click here to continue reading

This new law will ensure you pay more for online purchases…

Marketplace Fairness Act of 2013
Reporting from Santiago, Chile

In another brilliant move aimed at destroying the few table scraps of economic freedom which remain in the Land of the Free, a bipartisan group of esteemed lawmakers in the United States Congress has introduced the Marketplace Fairness Act of 2013.

Remember the golden rule of legislation: the more noble the name of the law sounds, the more disastrous its results. This one is no exception.

Generally speaking[...] Click here to continue reading

Tell me again… which of these nations is communist?

Communism in America?
Reporting from: Santiago, Chile

Tax policy really tells you a lot about a government... what politicians' values and priorities are. People can SAY anything, but in a way, tax policy is putting their money where their mouths are.

For example, politicians like to talk about technology, efficiency and transparency. But just take a look at the tax code to see where they really stand. Estonia's Taxation Act of 2002, which form the preponderance[...] Click here to continue reading

US gov’t: failure to disclose foreign account is worse than possession of child porn

Enter scam artists
August 28, 2012
Spoleto, Italy

Jacques Wajsfelner of Weston, Massachusetts is a criminal mastermind. Big time. Like Lex Luthor. But rest easy, ladies and gentlemen, for this nefarious villain is about to face some serious jail time thanks to the courageous work of US government agents.

You see, Mr. Wajsfelner was finally caught and convicted of a most heinous crime: failing to disclose his foreign bank account to the US government. Note-- he was not convicted of tax[...] Click here to continue reading

Get ready to start paying these taxes too

In the pre-dawn darkness of a chilly LA morning, my day started off with a chuckle. A friend in the reforestation business sent me an email detailing the US Department of Agriculture's new 'Christmas Tree' tax that was approved yesterday.  I thought it was a joke. It wasn't.

One can only laugh at the absurdity of the government getting involved in such a matter. But it's happening more and more.

You see, the[...] Click here to continue reading