Category: Taxes

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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

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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

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IRS

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

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Trust Fund Theft

You and I would go to jail for this…

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,

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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

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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

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EstatePlan

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

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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

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Market Place Fairness

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

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

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IRS

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

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No Social Security For You

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

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

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Marketplace Fairness Act of 2013

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

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

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Communism in America?

Tell me again… which of these nations is communist?

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

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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

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