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Baltimore business owners City services Crime Intelwars Police TAXES Violence watch

Baltimore shops fed up with ‘prostitution, public urination, and defecation’ — and threaten to not pay taxes until there’s more police, better services

A group of nearly 40 restaurants and shops in Baltimore’s Fells Point neighborhood are threatening to withhold city tax payments and other fees unless they get more policing and better services,
WJZ-TV reported.

What are the details?

The 37 business owners signed a pointed letter addressed to Mayor Brandon Scott, Councilman Zeke Cohen, State’s Attorney Marilyn Mosby, and Police Commissioner Michael Harrison following a weekend of violence and mayhem that included
three men getting shot Saturday night, the station said.

“What is happening in our front yard — the chaos and lawlessness that escalated this weekend into another night of tragic, unspeakable gun violence — has been going on for far too long,” the letter said, according to WJZ.

The businesses plan to place the withheld funds in an escrow account until the city meets four demands, the station reported:

  • Pick up the trash
  • Enforce traffic and parking laws through tickets and towing
  • Stop illegal open-air alcohol and drug sales
  • Empower police to responsibly do their jobs

The letter added that minor crimes that police “ignore” are what leads to incidents like the weekend shooting, WJZ noted.

‘Prostitution, public urination and defecation’

“When it comes to prostitution, public urination and defecation, and the illegal sale and consumption of alcohol and illicit drugs on the streets, we know these crimes are not as serious as the carjackings, shootings, and homicides that have become routine,” the letter also said, according to the station. “But, as this past weekend proved, a culture of lawlessness rarely remains confined to petty offenses and invariably leads to the kinds of violence and tragedy we witnessed late Saturday night.”

The letter ended by saying that Fells Point is “one of the crown jewels of Baltimore,” and that the small problems could lead to the neighborhood’s demise, WJZ noted.

“Frankly, it’s pathetic that we have to ask for these basics,” the letter also said, according to the station. “But this is where we are.”

Here’s the
full letter:

What did the mayor’s office have to say?

“Mayor Scott shares the business owners’ frustrations over the violence across the city, and has ordered the Baltimore Police Department, Department of Public Works, and Department of Transportation to work collaboratively to address it,” a statement from the Mayor’s Office reads, WJZ reported. “The Mayor is working tirelessly to hold people committing violence accountable, remove violent offenders from our streets, and identify illegal firearm traffickers so Baltimore residents can enjoy a night out without fear of endangerment.”

Anything else?

Perhaps not coincidentally, Mosby in March announced that Baltimore would permanently suspend prosecution of prostitution, drug possession, minor traffic offenses, and other so-called “quality of life” crimes.

After the program had been in place temporarily due to COVID-19, Mosby claimed violent crime had declined 20%, and property crime had declined 36%: “Clearly, the data suggest there is no public safety value in prosecuting low-level offenses.”

Here’s another video report about the violence over the weekend — and at whom the business owners are pointing their fingers:


Fells Point business owner blames Mosby, Harrison, Scott for failing to curb violence

youtu.be

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Budget deficit Intelwars National Debt President joe biden spending TAXES

New York Times exposes Biden’s plan to raise taxes on low- and middle-income Americans to pay for massive $6 trillion budget, breaking his repeated promises

President Joe Biden has repeatedly promised not to raise taxes on people making less than $400,000. It was a staple of his presidential campaign, and he continued to say it after being sworn in.

Most conservatives and honest observers didn’t believe him at the time. They saw his agenda, understood the price tag would be huge, and figured higher taxes for everyone would be inevitable.

The New York Times revealed this week that skeptics were right to give his “no taxes” vow the side eye after it obtained Biden administration documents showing the president’s actual tax-and-spend plans.

What is the administration planning?

Less than two months into his first term, the president’s team already began changing the terms of Biden’s promise. No longer would his promise to not raise taxes apply to individuals making less than $400,000 — instead, the threshold would apply to families, CNBC reported.

Now, as the White House prepares to officially present its new budget, it appears that Biden’s promise is getting another revision.

The Times reported Thursday that the president’s massive new budget, which he will unveil Friday, “would take the United States to its highest sustained levels of federal spending since World War II.”

Biden’s budget, which starts with a $6 trillion spending plan for this year, would increase total annual spending to $8.2 trillion by 2031.

A spending plan that large will naturally require higher taxes — a fact the Times acknowledged, saying that the plan includes raising taxes on corporations and high earners.

But everyone knows that won’t be enough to cover all the new spending, particularly since the administration has said the “jobs and families plan would be fully offset by tax increases over the course of 15 years,” the Times noted.

So, where will those extra tax dollars come from?

The Times exposed what the text of the documents it obtained: tax hikes for all income levels.

“The documents forecast that Mr. Biden and Congress will allow tax cuts for low- and middle-income Americans, signed into law by President Donald J. Trump in 2017, to expire as scheduled in 2025,” the Times reported. “Mr. Biden has said he will not raise taxes on people earning less than $400,000 a year. It is possible that he could propose to extend the Trump tax cuts for those earners in a future budget, potentially coupled with additional tax increases on high earners or businesses.”

But there are zero reports of any such proposal even being discussed by this White House.

Republicans blasted the massive budget plan and the coming tax hikes for middle and lower incomes.

“President Biden’s budget blunder sets us up for an even worse economic recovery than the Obama-Biden record of the slowest in history,” House Ways and Means ranking Republican Kevin Brady (Texas) said, according to the Times. “Lower- and middle-income families are already suffering under the stealth tax of higher prices. Now the president wants their income taxes to go up as well.”

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Canadian lumber commands control CORRUPTION Destruction Dollar figure it out government is criminal government is slavery Headline News Humanity hyperinflation Intelwars Joe Biden no authority no masters no slaves obedience own yourself power Self-ownership tariffs tariffs are theft taxation is theft TAXES United States wake up who owns you

The U.S. Government Is Here To Help: Tariffs On Lumber Could DOUBLE

The United States government is looking at increasing the theft and costs of lumber to the public as prices are skyrocketing. In fact, the “authorities” want to double the tariffs on lumber coming from Canada.

According to reports, the masters will be making it much harder for the slaves to afford lumber after they steal half their income in taxes then apply tariffs and hyperinflation to transfer wealth to themselves. Remember, we warned when former president Donald Trump decided to play the tariff game that those costs would be placed firmly on the backs of the American consumer, and we were right. There is too much evidence to ignore that tariffs are not put in place to “hurt” other countries but to destroy the purchasing power of an American consumer’s dollar.

This situation is no different under Biden than it was under Trump. Americans who purchase lumber will be footing the bill for these taxes. Wake up and start to realize what the system is doing. It’s going to be too late at some point.

The United States commerce department recommended a more than doubling of the tariffs on Canadian lumber last Friday despite a meteoric rise in prices and demand for the commodity. Specifically, the department recommended the “all others” preliminary countervailing and anti-dumping rate move to 18.32% from 8.99%. The proposed rates are subject to further review over the next six months before final duties are set sometime in November.

The move to increase tariffs on Canadian lumber suppliers comes as lumber prices have taken the brunt of the inflation and risen over 275% since last April alone. Canada’s share of the US lumber market sits at around 25% as well, according to the Wall Street Journal.

On May 22, National Association of Home Builders chairman Chuck Fowke released a statement criticizing the move to increase tariffs. “The administration should be ashamed for casting its lot with special interest groups and abandoning the interests of the American people,” he said.

It’s always the same and it won’t end until we decide it’s over.  No administration will save us or give us the freedom that was our birthright. It’s up to us to take the first step and realize the illusion they have created in order to control, impoverish, and own us all.

Stay alert, use your critical thinking. I know I frequently remind readers to do this, but it’s imperative at this point in history.  Use discernment and continue to prepare for anything you can. Once enough people awaken to the reality that government is slavery, they will not go down without a few last-ditch attempts to rule and control us all.

 

 

The post The U.S. Government Is Here To Help: Tariffs On Lumber Could DOUBLE first appeared on SHTF Plan – When It Hits The Fan, Don’t Say We Didn’t Warn You.

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economics Intelwars poll President joe biden Reaganomics Ronald Reagan TAXES trickle down economics

Poll: 4 in 10 Republicans say ‘trickle-down economics have never worked in America’

A plurality of Republican voters reject the party’s longstanding beliefs on economics, according to a new national survey from Ipsos/Reuters released Thursday.

The poll found that self-identified Republicans were split on the question of whether tax cuts for the wealthy to encourage investment, hiring, and economic growth — a policy championed by President Ronald Reagan and characterized as “trickle-down economics” by its critics — actually works.

Surprisingly, 4 in 10 Republicans surveyed by Ipsos agreed with the statement that “trickle-down economics have never worked in America.” Just 3 in 10 Republicans disagreed with that major challenge to Republican Party orthodoxy on tax policy.

Known as “Reaganomics” by its supporters, the theory that tax cuts benefit everyone has been fiercely attacked by Democrats and the left for decades. Tax cuts for the rich and corporations, leftists argue, increases income inequality without demonstrable benefits to unemployment or GDP growth.

A study released in 2020 by the London School of Economics that analyzed 50 years of economic data came to a conclusion that agreed with these criticisms. Comparing 18 developed countries, the study found that in countries that cut taxes the incomes of wealthy people increased but the rate of economic growth remained identical with countries that didn’t cut taxes. The study’s authors claimed the effect of the tax cuts was to make the rich richer without benefitting anyone else.

A strong majority of Democrats, 7 in 10, agreed that tax cuts for the wealthy have never worked while only 2 in 10 Democrats disagreed.

The pool of survey respondents slightly favored Democrats. The poll was conducted online and gathered responses from 1,000 U.S. adults, including 290 Republicans and 360 Democrats.

Overall, 51% of survey respondents said “trickle-down economics” never worked while 26% disagreed.

The poll was conducted after President Joe Biden’s first address to a joint session of Congress, during which he proposed increasing taxes on wealthy Americans to pay for trillions of dollars in new spending on education, new welfare programs, infrastructure, and climate policy.

A strong majority of those surveyed, 73%, said they approved of Biden’s economic proposals to Congress.

On the specific issues:

  • 69% of Americans support 12 weeks of mandated paid family and medical leave;
  • 65% support free community college tuition for the first two years;
  • 65% support increased taxes on the rich;
  • 64% support increased power for the IRS to go after corporations and wealthy people that dodge taxes;
  • 63% of those surveyed support increasing the federal minimum wage to $15 per hour.
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DOJ Intelwars Roger Stone Sues TAXES unpaid Wife

DOJ sues Roger Stone and wife for $2M in unpaid taxes, alleging fraud

The Justice Department sued longtime Trump ally Roger Stone and his wife, Nydia, in a civil lawsuit on Friday, alleging the couple owes unpaid taxes plus interest and penalties to the tune of nearly $2 million.

The feds accuse the Stones of using fraudulent measures to dodge paying up, but Mr. Stone says the suit is “politically motivated.”

What are the details?

The complaint filed in Fort Lauderdale, Florida, claims that the Stones underpaid their taxes in the years 2007 through 2011, and in 2018, and that they owe roughly $1.997 million in unpaid taxes, fines and interest.

NBC News noted that “the government also said the Stones at one point entered into an agreement to cover taxes owed through monthly installments of nearly $20,000, but stopped paying.”

The suit also accuses the Stones of moving more than $1 million of their personal funds to an LLC they own, called Drake Ventures, which the DOJ says “evaded and frustrated the IRS’s collection efforts.”

The Stones then allegedly paid “a substantial amount of their personal expenses” from the Drake Ventures accounts, according to the feds.

The lawsuit further states:

Although they used funds held in Drake Ventures accounts to pay some of their taxes, the Stones’ use of Drake Ventures to hold their funds allowed them to shield their personal income from enforced collection and fund a lavish lifestyle despite owing nearly $2 million in unpaid taxes, interest and penalties.

The suit was “commenced at the direction of the Attorney General of the United States,” Merrick Garland.

Roger Stone was a target of the Mueller investigation, under which he was found guilty of lying to Congress and was sentenced to 40 months in prison. But former President Trump commuted his sentence in July 2020 before he served any prison time. Trump then pardoned Stone before he left the White House.

In reaction to the DOJ’s lawsuit, Stone told the Associated Press on Friday:

“The Internal Revenue Service is well aware of the fact that my three-year battle for freedom against the corrupted Mueller investigation has left me destitute. They’re well aware that I have no assets and that their lawsuit is politically motivated. It’s particularly interesting that my tax attorneys were not told of this action, filed at close of business on a Friday. The American people will learn, in court, that I am on the verge of bankruptcy and that there are no assets for the government to take.”

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Bill de Blasio Intelwars New York New York City TAXES

Mayor de Blasio calls for higher taxes on the wealthy but refuses to reveal exactly whom he would label as ‘rich’ — and seems unsure of what ‘wealthy’ actually means

Democrats have a reputation for loving the idea of raising taxes — especially taxes on the well-to-do. They promote class-warfare arguments calling for the government to “tax the rich” and to make the wealthy “pay their fair share.”

Naturally, far-left New York City Mayor Bill de Blasio fits into that stereotype.

This is the mayor who reminded his subjects in December that “our mission is to redistribute wealth,” adding that “a lot of people bristle at that phrase, that is, in fact, the phrase we need to use.”

He said something similar in August when he made a plea for “taxing the rich and redistributing their money even as the Big Apple reels from a coronavirus-induced budget crisis that’s already caused well-heeled New Yorkers to head for the hills.”

Hizzoner further urged Gothamites, “Help me tax the wealthy. Help me redistribute wealth. Help me build affordable housing in white communities if you want desegregation,” adding, “What changes things is redistribution of wealth. Tax the wealthy at a much higher level.”

But in all of this, de Blasio has refused to define whom he considers to be “wealthy” or who would qualify as “rich” under his imagined tax plan.

So it should come as no surprise that while taking part in a New York state Senate budget hearing, the mayor reiterated his plea to “tax the rich” but when pressed by a fellow Democrat on who would qualify as “rich” under his plan, he failed to offer any specifics.

De Blasio told Democratic state Sen. Jim Gaughran on Thursday, “What I think, is for millionaires and billionaires, there should be higher taxes, particularly for billionaires,” the New York Post reported.

Having the same question many people probably have — especially those who might get caught in the mayor’s “tax the rich” net — Gaughran pressed for clarity, asking, “One of the questions I have for you, in terms of if you are looking to the suggestion that we raise taxes on the wealthy. Could you further define that? Who do you define as wealthy and what tax rate should we raise, if it was up to you?”

The mayor, saying he wanted to be “straightforward,” offered an unclear answer, “Couple of straightforward points — I think billionaires in particular is where I’d put a lot of the emphasis—”

At that point, the Post said, Sen. Gaughran interrupted to push the mayor to be more clear, asking, “You said billionaires, a billionaire — somebody who has a billion dollars or somebody that makes a billion dollars? Or are you looking at a certain — What would be the annual figure you would look at that you think somebody should make?”

De Blasio didn’t have an answer and said simply, “Senator, I want to be straightforward. When I can give you a very specific answer, I will.”

He admitted that he didn’t really have a plan in mind to back up his left-wing rhetoric.

“I don’t have my own independent tax suggestion for the state,” de Blasio said. “I just want to tell you directionally.”

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America control controllers deductions Fascism Federal Reserve Headline News INCOME INEQUALITY Injustice Intelwars legalized looting liars masses NEO-FEUDALISM plundered political parasites rigged system ruling class taxation is theft TAXES wake up War war on wealth Wealth wealth gap wealthy

The Coming War on Wealth and the Wealthy

This article was originally published by Charles Hugh Smith at Of Two Minds Blog. 

Here’s looking at you, Federal Reserve–thanks for perfecting ‘legalized looting’ and neofeudalism in America.

The problem with pushing a pendulum to its maximum extreme on one end is that it will swing back to the other extreme minus a tiny bit of friction.

America has pushed wealth/income inequality, unfairness, and legalized looting to the maximum extreme. Now it will experience the swing back to the other extreme. This will manifest in a number of ways, one of which is a self-organizing populist war on wealth and the wealthy.

To say the system is rigged to benefit the already-wealthy and powerful is a gross understatement. Take the tax code as an example–thousands of pages of arcane tax breaks and giveaways passed by a thoroughly corrupted Congress and thousands of more pages of arcane regulations and legal precedents.

How many pages apply to the bottom 95% of American taxpayers? Very few. There are the standard deductions for mortgage interest, healthcare costs, etc., but virtually no other tax breaks. Very few pages apply to even the 99%–go talk to a CPA and you’ll find there are no more tax breaks for a sole proprietor making $500,000 in earned income than there are for a sole proprietor making $50,000.

99.9% of the tax code benefits the top 0.1% and the corporations, LLCs, and philanthro-capitalist foundations and trusts they own/control. Stripped of artifice and spin, America’s tax code is nothing but legalized looting. This is only one small slice of the entire pie of legalized looting, of course, but it’s one we can all understand.

A sole proprietor pays 15.3% in Social Security and Medicare taxes. Why don’t America’s billionaires pay 15.3% in Social Security and Medicare taxes? Aren’t Social Security and Medicare/Medicaid the bedrock social safety net programs of the American people? Then why does a struggling sole proprietor pay 15.3% tax to support these essential programs and billionaires pay essentially zero?

There’s a term for this disparity/injustice/unfairness: legalized looting. The super-wealthy pay essentially zero percent of their income and wealth to the programs that provide basic economic security for the disabled/elderly citizenry, while Jose the sole proprietor pays 15.3% of every dollar he earns.

So explain to us again why Mr. Buffett can’t afford to pay 15.3% of every dollar of his income to help fund basic economic security for the disabled/elderly. In a system of even the most basic fairness, every dollar of income would be taxed at the same rate. In a system of even the most basic fairness, those with incomes of $100 million would pay the same 15.3% Social Security and Medicare tax as the sole proprietor earning $100,000.

Needless to say, if this most basic fairness was applied to America’s wealthy and powerful, these programs would not be facing insolvency.

If Joe the sole proprietor hits the big time, he pays 32% federal tax over $165,000, 35% over $210,000, and 37% over $524,000. If we add 15.3% to 37%, we get 52.3%. How many of America’s super-wealthy / billionaires pay 52% in Social Security-Medicare and income taxes? Zero.

Could America’s super-wealthy / billionaires afford to pay 52%? Of course, they could–they own the majority of all financial assets and skim the majority of all income. But they won’t, because the system is rigged to benefit the few at the expense of the many via legalized looting.

It isn’t just the inequality of ownership of capital and power that enrages the oppressed; it’s the blatant unfairness of our neo-feudal/neocolonial system. As I explained in Neofeudalism and the Neocolonial-Financialization Model (May 24, 2012) and Welcome to Neocolonialism, Exploited Peasants! (October 21, 2016), the Financial Nobility have “come home” and applied the same rapacious exploitation they perfected in colonialism to the domestic populace.

Here’s looking at you, Federal Reserve–thanks for perfecting legalized looting and neofeudalism in America.

The gulf between the lavishly praised American ideals and the putrid, corrupt reality of America’s neo-feudal system is wider than the Grand Canyon. As the pendulum accelerates to an extreme equal but opposite to the current extremes of unfairness, exploitation, and legalized looting, those who have suffered the consequences of this systemic inequality will find expression in whatever ways are available.

Since it’s difficult to get to the protected compounds of the super-wealthy, the signifiers of the merely wealthy will offer readily available targets. The new Tesla won’t just get keyed; it will be “reworked,” to the great satisfaction of the “workers.”

Please note that I am not promoting a war on wealth and the wealthy, I am merely pointing out that it is as inevitable as the gravity pulling the pendulum.

The war on wealth and the wealthy will manifest politically, socially, and economically. It won’t be a tightly controlled, top-down movement. It will be spontaneous, self-organizing, and unquenchable.

If you don’t understand why a war on wealth and the wealthy is inevitable, please study this chart: the way of the Tao is reversal.

The post The Coming War on Wealth and the Wealthy first appeared on SHTF Plan – When It Hits The Fan, Don’t Say We Didn’t Warn You.

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Intelwars International Diversification Strategies Internationalization: Taxes LM: None Offshore Structures & Asset Protection Puerto Rico Tax Planning & Compliance TAXES Top Articles

Puerto Rico Act 20 & 22: Guide & Personal Experience (Copy)

Puerto Rico Tax Incentives:
Ultimate Guide & My Personal Experience
With Act 20 & Act 22

When I wake up and see the ocean in front of me, I have to pinch myself. 

Here I am, living in a beautiful place that’s part of the United States… yet I pay ZERO US federal income tax, only a 4% corporate tax for my businesses and ZERO capital gains and dividends tax. 

I’m still a US citizen, and this is all perfectly legal. 

I’m simply using the existing rules to live a comfortable lifestyle in paradise.

You too can have this type of lifestyle and tax advantages– especially if you are one of the many people now working from home and realizing, you can work from anywhere.

Impossible! How could these tax incentives be true?

I’ll be upfront. Sure, Puerto Rico has its share of challenges.

As COVID hit in March 2020, Puerto Rico issued one of the first, and one of the strictest, lockdowns in the US. And milder forms of draconian COVID measures have continued to harm the tourism and hospitality industries ever since.

And this isn’t Puerto Rico’s first rodeo.

As you probably recall, Hurricane Maria pummeled Puerto Rico in September 2017. It took a big toll on the island’s infrastructure, tourism industry, and caused about 130,000 people – nearly 4% of the population – to leave.

But Puerto Rico’s problems started well before Maria arrived.

The island has some serious economic issues. Puerto Rico has $74 billion in bond debt and another $49 billion in unfunded pension liabilities. Back in 2010, the unemployment rate was nearly 17%. And the unemployment rate didn’t drop below double-digits until 2018.

To deal with these kinds of issues, other governments would probably follow the usual playbook, starting with oppressive tax hikes. They would try to squeeze the remaining residents for more revenue.

But not Puerto Rico. They got creative.

The view from my balcony…

Smart, local leaders have responded to these challenges in a unique, promising way: They’ve created these amazing tax incentives to lure productive individuals and their successful businesses to the island.

Puerto Rico is a commonwealth of the US. That means that most things here fall under US federal law, like immigration and customs and border enforcement.

But Puerto Rico’s tax system is independent from the US. Puerto Rico has its own tax agency, like the IRS. That’s what makes Puerto Rico unique. It’s a part of the US, but tax-wise, it’s not. And that’s a big advantage…

The US is one of only two countries in the world – the other being the tiny east African country of Eritrea – that taxes its citizens on their worldwide income even if they do not live in the United States.

But Puerto Rico, with its independent tax system, grants you an exception.

If Puerto Rico is the only source of your income, the US government effectively says, “Okay. We won’t touch any income in Puerto Rico. We won’t even look at it.”

And since the island has extended these generous tax incentives, business owners, self-employed individuals, independent contractors, traders and investors who relocate to Puerto Rico have the opportunity of a lifetime.

If you’re a regular employee, don’t be discouraged. If you can work anywhere – which is practically everyone since COVID shut down offices – see if you can switch to be a contractor for your company. You’ll be able to enjoy the same tax privileges.

When successful businessmen and women, wealthy hedge fund managers, investors, etc. are running like mad to Puerto Rico, you know the government here is doing something right.

Let me share specifically what Puerto Rico is doing to attract these productive people.

But first let’s talk about…

What’s new in 2020?

In late June 2019, Puerto Rico completed a massive overhaul of their tax incentives, enacting the Incentives Code. 

The new law does NOT eliminate the existing incentives. It systematizes dozens of incentive acts – Acts 20 and 22 are just the most famous ones – that Puerto Rico has enacted over the years.

The law came into effect on January 1, 2020 and altered previous legislation. 

Act 22 is now part of Act 60, Chapter 2, Incentives for Individual Investors.

Unfortunately, it became more costly to comply with. 

The mandatory annual donation to Puerto Rican charity increased from $5,000 to $10,000. And within the first two years of living there you now need to buy a home in Puerto Rico.

Then in April, the Governor signed new legislation which raised the annual filing fee for Act 22 from $300 to $5,000.

On the bright side, conditions for Act 20, known as the Export Services Act–now part of Chapter 3, Incentives for Export Services– remained largely the same. 

Under the new rules, If your Act 20 company churns $3,000,000 (or more) of revenue a year, you will need to employ a full-time employee in Puerto Rico. And that single employee can be you actively managing your business.

The Acts themselves are not even called Acts anymore: For example, Act 20 became Chapter 3 of Act 60 of the Incentives Code – Exportation of Goods and Services. And Act 22 is now Chapter 2 of Act 60 the Incentives Code.

In this article, we outline the new requirements, but for easier understanding will keep calling them Act 20 and Act 22.

Puerto Rico has introduced two pieces of legislations that allow you to reduce your corporate and investment income taxes…

But let’s start with…

Act 20
(Chapter 3 of Act 60, Incentives for Export Services):
How to slash your company’s tax rate to only 4%

The first is Puerto Rico’s Act 20, known as the Export Services Act, available to citizens of any country.

It allows you to slash your corporate tax rate to only 4%.

Dividends paid to you personally from your Act 20 company also won’t be taxed AT ALL— but only as long as you are a bona fide resident of Puerto Rico.

The Export Services Act is interesting, because of its extremely broad legislation. Here’s the idea behind it…

You incorporate a business in Puerto Rico that’s providing a service. And that service is being sold to people outside of Puerto Rico.

Your service could be research and development, advertising, any kind of consulting, project management, accounting, legal services, information technology services, telemedicine, and much more.

Regardless of your particular specialty, your businesses’ service – provided to clients anywhere in the world – is considered “qualifying activity” under Act 20. So, your business is eligible for a special corporate tax rate of just 4%.

The key to obtaining this 4% corporate tax rate is that you’re providing a service or services exported outside of Puerto Rico.

A clinic providing healthcare services to only Puerto Rican residents wouldn’t qualify. But if you’re providing telemedicine consultations to patients in the mainland US, Europe, or Asia, then your business meets the “qualifying activity” criteria.

Even if your primary business doesn’t fit within the “services” space, there’s a way to qualify for the 4% corporate tax rate.

I know people here, for example, who sell products online through Fulfillment by Amazon (FBA), where Amazon’s customer service centers pack and ship their inventory.

Since marketing is a service, they set up a Puerto Rico Act 20 company to provide that marketing service. Their Puerto Rican Act 20 company exports its marketing services to their FBA business.

The marketing company in Puerto Rico only pays a 4% corporate tax rate, and their FBA business can write off these marketing expenses.

Other people I know have a manufacturing business incorporated overseas, and they also use these Act 20 companies to reduce their taxes.

Some of them use their Act 20 company to provide management services in Puerto Rico, or ‘shared services’ like payroll, accounting, etc. to their manufacturing business overseas.

These management and shared service fees are completely legitimate services to provide. 

And the setup is similar to the previous marketing services example. The Puerto Rican management company pays a 4% corporate tax, and the manufacturing business writes off the management expenses.

And remember, if you follow the proper rules, your Puerto Rican company won’t pay any US tax. So instead of a 21% corporate tax in the mainland US, plus another 20% dividend tax, all you’ll be paying in Puerto Rico is a measly 4% corporate tax. And zero in dividend tax.

This is an absolutely incredible deal.

The Act 20 legislation is very broad. Again, regular employees cannot benefit, but if you can arrange to work remotely (which should be easier than ever with COVID shutting down most offices), then you can transition to being an independent contractor operating out of Puerto Rico.

And as an independent contractor, you’ll now be exporting your services – whatever they may be.

If you have a skill where you can work anywhere – copywriting, digital marketing, telemedicine, investment management, consulting, design, coding, paralegal work, medical transcription, accounting, recruiting, etc. – then you owe it to yourself to check out Puerto Rico’s Act 20.

Note that the new Incentives Code introduced an employment requirement to Act 20 in 2020. 

If your Act 20 company churns $3,000,000 (or more) of revenue a year, you will need to employ a full-time employee – a resident of Puerto Rico – working a normal 8-hour day.  That single employee can be you, the business owner actively managing your business.

If your company earns less than that, there is no employment requirement at all, as before.

Keep reading to see how much it costs to set up and maintain an Act 20 company.

Act 22
(Chapter 2 of Act 60, Incentives for Individual Investors):
How to reduce your capital gains tax to ZERO

The second piece of legislation is Act 22, the Individual Investor Act.

If you’re an investor based in the US, you’re paying a top 20% tax on dividends and capital gains, potentially the 3.8% Obamacare surcharge tax (for those married filing jointly with over $250,000 in annual income) and a host of state and local taxes.

But if you pack up and move down to sunny and beautiful Puerto Rico, then all your future capital gains on stocks and bonds… become tax free. And the new Incentives Code explicitly includes gains on crypto too.

Additionally, any dividends, interest, and royalties you may receive from Puerto Rican sources will also be tax-free.

That’s right. The IRS won’t touch any of your investment income.

If you’re expecting big capital gains in the future, you need to seriously consider Act 22. Gains on stocks, bonds, crypto… you will have after your move to the territory, will be tax-free.

And if you are sitting on significant gains already, Puerto Rico may still help you. If you spend more than ten years as a resident there, your tax obligation on the portion of capital gain you accrued while still living in the US will also go down… to 5%.

That’s an incredible deal.

Please note that the new Incentives Code made Act 22 more expensive in 2020.

First, in order to qualify for Act 22, you need to make an annual donation to official charities in Puerto Rico, and in 2020, the donation amount increased from $5,000 to $10,000.

And under the new rules, within two years of obtaining your Act 22 decree, you will need to buy a property in Puerto Rico and use it as your primary residence (you can’t rent it out). You will need to keep it throughout the validity of your Act 22 decree.

(There is no minimum purchase price requirement.)

The annual filing fee also increased from $300 to $5,000.

Traveling or moving to Puerto Rico is very easy…

Traveling to Puerto Rico is just like traveling from state to state. Let’s say you get on a plane in Miami and fly to Puerto Rico’s capital of San Juan. When you arrive, you don’t have to go through immigration or customs. You just get off the plane and go on your way… because technically, you never left the US.

The same goes for moving. 

Moving to Puerto Rico is just like moving from California to Texas or from New York to Florida. You arrange the movers and off you go. No customs or border patrol to deal with. No hassles or headaches like when you move from country to country.

Puerto Ricans also enjoy the same travel and moving benefits as Americans. Again, that’s because they ARE Americans.

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Taxation examples in different scenarios…

Here are a few examples of how much tax you would pay in different scenarios.

If you are living in the US while operating your Act 20 company in Puerto Rico…

You’ll pay a 4% corporate tax to the Puerto Rican government and a GILTI tax of up to 21% to the US government. (Can be lowered to 10.5% in certain cases.)

GILTI is a new tax that came into existence with Trump’s Tax Reform of 2018 and the IRS considers Puerto Rico a foreign country for GILTI tax purposes.

Since you are not a bona fide resident of Puerto Rico you also can’t take advantage of the dividend tax exemption.

So, if you pay out dividends they will likely be considered qualified dividends by the IRS and taxed according to your tax bracket. That can be up to 20%, plus the 3.8% Obamacare surcharge tax and a host of state and local taxes. 

Because of the GILTI tax our opinion is that, for most people, an Act 20 company only makes sense if they actually become Puerto Rican bona fide residents.

If you are a bona fide resident of Puerto Rico while operating an Act 20 company…

On the corporate side, you’ll pay a 4% corporate tax to the Puerto Rican government and you will escape the GILTI taxation by the IRS for your Act 20 company. Dividends will also be tax-free.

On the individual side, you’ll pay yourself a small salary that’s taxable at normal Puerto Rican tax rates, comparable to mainland US tax rates.

Don’t think that you can pay yourself $1 per year. Your salary has to be reasonable.

But you don’t have to pay yourself mainland US wages, either. You’ll find that wages in Puerto Rico are much lower than the US mainland, so you can pay yourself a commensurate regular salary. We advise you to check with your accountant on this rate.

And you can take the rest of your compensation as a qualified dividend, taxed at… 0%. Yes, imagine that. You can take all this money that you earned and put in your pocket tax-free.

But you’ll continue to pay the usual US taxes on investment income.

You can learn more about how to become a bona fide resident of Puerto Rico in the Act 22 section.

And if you also take advantage of Act 22…

You’ll pay the same taxes on your Act 20 company’s profits and dividends as in the previous scenario.

But you’ll also pay ZERO on your future capital gains on stocks, bonds and crypto.

Any dividends, interest, and royalties you may receive from Puerto Rican sources will also be tax-free.

How to qualify for Puerto Rico’s tax incentives

Why you need to apply for Acts 20 & 22 NOW

I cannot emphasize this enough…

YOU SHOULD STRONGLY CONSIDER ACTS 20 AND 22 TODAY. 

That’s because I don’t expect Puerto Rico’s incentives to last for much longer. The Bolsheviks that may come to power soon in Washington, DC hate win/win scenarios. They want “the rich” to lose, even if Puerto Rico loses too.

The good news is that Act 20 and Act 22 are essentially a contract with the Puerto Rican government that lasts 15 years.

So even if they shut down the programs to new applicants, people who already have their tax incentives established will be grandfathered under the old rules.

That should be a pretty strong motivator to get down here and at least check it out.

And if more Bolsheviks continue rolling into power, you can count on much higher taxes in the Land of the Free… which makes Puerto Rico even more compelling.

And even if you’re not ready to move to Puerto Rico right now, if you think there’s a chance that you might move there some time in the next few years to take advantage of these tax incentives, you can still set up an Act 20 company today.

The company can’t be completely dormant. But as long as it has some basic commercial activity, you can lock in today’s incentives, and then move down in a few years’ time to really boost your tax benefits. 

One thing to keep in mind – The IRS considers Puerto Rico a foreign country for GILTI tax purposes. 

The tax came into existence with Trump’s Tax Reform of 2018. If you stay in the US while operating your Act 20 company in Puerto Rico, you will need to pay GILTI tax on your company’s income.

How to set up an Act 20 company

I’ve already covered that your Act 20 company must be a service-based business that exports some type of service to global customers…

Obviously, your first step is to have a business that meets this requirement. 

If you don’t have an existing business that meets the criteria, remember, you still have options to qualify under Act 20. For example, you can structure a marketing or management company that provides these services.

Then, you must apply for a decree. You do it by submitting an application at the Single Business Portal of the Office of Industrial Tax Exemption (OITE) of Puerto Rico to obtain a tax exemption decree, which will provide full details of tax rates and conditions.

All-in, it takes the Puerto Rican government at least four to five months (in normal, non-COVID times) to approve your tax exemption (which they’ll retroactively date to when you applied).

Alternatively, you can use an attorney to help navigate Puerto Rican bureaucracy.

Expect the attorney fees to start at around $8,000, which includes incorporation and the Act 20 tax exemption filing. I paid around $15,000 for mine, using one of Puerto Rico’s top firms.

And if you go with one of the official promoters of the Act 20 program, then you will essentially pay only the government-related fees of around $2,000. The promoters later get a small cut from the 4% corporate tax you will be paying to the government.

So if you are moving a simple business to Puerto Rico (and not some complicated international structure) then the cheapest way to open an Act 20 company would be through such an official promoter.

You can either set up an LLC or a corporation. I personally set up an LLC. But for tax purposes, it needs to be a corporation, so I elected my LLC to be treated as a corporation. To do this, you simply need to check the box on  IRS Form 8832.

Additionally, you’ll pay a few hundred dollars per year to maintain the company, between accounting fees and renewal costs.

Looking for a reliable service provider in Puerto Rico?

If you are a member of our flagship international diversification service, Sovereign Man: Confidential, we can give you a reference for both an experienced attorney and a reliable, official promoter we have worked with.

Just get in touch with us through the member site.

And please keep in mind that we take absolutely no commissions, kickbacks or anything of the sort from the providers we refer our members to.

It’s a huge part of my personal moral code, and I just think it’s the right way to do it. 

While this is extremely rare in the financial industry where commissions and kickbacks are the norm… I would never put myself in a position where my interests and the interests of our members are not 100% aligned.

Additionally, we always do our best to pass the commissions our referred providers ordinarily pay to promoters as additional discounts to our members.

For example, one of the service providers we have a relationship with usually charges $1,500 to file an Act 22 application, but our members get a $500 discount on that.

How to file for Act 22’s tax incentive

In 2020, the conditions to apply for Act 22 have become more stringent.

In order to qualify for Act 22, you need to make an annual donation to official charities in Puerto Rico. And in 2020, the donation amount increased from $5,000 to $10,000.

And now it will be split into two parts: The first $5,000 will go to one of the charities specifically approved by the government, and the second $5,000 will still go to the charity of your choice in Puerto Rico (as before).

And under the new rules, within two years of obtaining your Act 22 decree, you will need to buy a property in Puerto Rico and use it as your primary residence (you can’t rent it out). You will need to keep it throughout the validity of your Act 22 decree. 

On the bright side, there is no minimum purchase price.

And as noted before another significant cost was added in April 2020 when new legislation raised the cost of the filing fee for Act 22 to $5,000 (previously just $300).

To get started,  you can hire an attorney to file the paperwork for Act 22, or, you can file yourself through Puerto Rico’s Single Business Portal

I’m well-versed in legal matters, but I still used an attorney. 

Expect to pay about $1,500 to $5,000 in legal fees (or just $995 if you are a member of our flagship international diversification service, Sovereign Man: Confidential, and use one of our trusted service providers). 

It should take Puerto Rico at least three months to process your application, but it could take up to ten months, especially with COVID disrupting normal work. When approved, they’ll retroactively date your residency so you get the tax benefit from when you applied.

After you are approved you have one year to enter Puerto Rico, otherwise, you will lose the decree and will have to reapply.

And to be exempt from US federal income taxes you have to become a bona fide Puerto Rican tax resident.

The three tests to become a bona fide Puerto Rican tax resident

The Internal Revenue Code has specific guidelines for what qualifies individuals as bona fide residents of a US possession. 

And as a resident, you’re eligible for the Act 22 exemption and you will escape the GILTI taxation by the IRS for your Act 20 company.

In Puerto Rico, the US says you have to check the box in three categories. Or, in other words, you must pass three tests:

1. Personal presence test

To satisfy the first test, you must meet any one of the following five conditions:

1) Be present in Puerto Rico for at least 183 days during the tax year.
These 183 days don’t need to be consecutive, you can make multiple trips to the US or elsewhere during the year. (To be on the safe side, we recommend you spend at least a few days more than 183 in Puerto Rico.)

2) Be present in Puerto Rico for at least 549 days (aggregate) during a 3-year period. And during each year of the 3-years, you need to be present in Puerto Rico for at least 60 days.

For the math to work, you will still need to spend at least 183 days during your first two years in Puerto Rico. However, this method potentially allows you to spend as little as 60 days in Puerto Rico in the 3rd year. 

3) Be present in the United States for 90 days or less during the tax year.
At first, this condition seems easy to meet, but remember that you still must meet two other tests – tax home and closer connection (we explain both further down).

4) Earn less than $3,000 in wages, salaries, or professional fees in the United States, AND spend more time in Puerto Rico than on the mainland during the tax year. This option may not work for you if you will be traveling to the United States to meet clients, perform some work… meaning that you will have US-based wages or professional fees.

5) Have no significant connection to the United States during the tax year.
The IRS considers that you have a significant connection to the United States if you:

  • Have a permanent home in the US (rental property is OK), or
  • Are registered to vote in the US, or
  • Have a spouse or a child under the age of 18 whose main home is in the US (unless the child is in school in the US or has legally divorced parents).

2. Tax home test

This one, too, is relatively straight forward.

To pass the tax home test, your tax and business activities need to be located in Puerto Rico. If your primary business activities are located anywhere else in the world, you won’t pass this test.

Now, the IRS defines ‘tax home’ as your regular place of business or employment.

So by setting up an Act 20 company, you go a long way in proving that your primary business activity is in Puerto Rico.

You can still travel to the United States, or elsewhere, to attend conferences, meet your clients, etc. As long as your main business (or consulting) activity happens in Puerto Rico, then you should be fine.

3. Closer connection test

The final test is more qualitative, and it’s similar to the ‘significant connection’ criterion I mentioned with the physical presence test.

Remember, you’re proving to the IRS that you’re not liable for US federal taxes on your qualified income.

So, consider these questions:



  • Is your family with you in Puerto Rico or back home in the mainland US?


  • Are you renting an Airbnb in Puerto Rico or do you have an apartment or house?


  • Are your personal belongings (car, furniture, jewelry) in Puerto Rico?


  • Do you participate in social, political, cultural, charitable organizations in Puerto Rico?


  • Where do you bank?


  • Do you have a Puerto Rican driver’s license?


  • Are you registered to vote in Puerto Rico?

You don’t have to do everything we outline in the table above, but you should do as much as you reasonably can. If the IRS runs an audit on you, they need to leave convinced that you treat Puerto Rico as your primary home. 

While I search for a house or apartment to buy, I’m renting a beautiful place that’s right on the beach.

I have a Puerto Rican driver’s license and I bought a car here. And for the first time in my life, I’m actually registered to vote. 

View from my rental apartment in Puerto Rico

When I fill out an IRS Form 8898, all these things I’ve done count for the closer connection test. I can check those boxes on the form and say, “Yes, IRS. I’m living in Puerto Rico and it’s my legitimate home base.” 

If all this sounds too good to be true…

It’s not.

I’ll admit that a few years ago when my friend and fund manager Peter Schiff mentioned Puerto Rico’s tax incentives, I initially had my hesitations. 

Hesitation #1: What if the government breaks its promises?

My primary concern was what would happen if the Puerto Rican government breaks its promises.

You, too, might have this concern. After all, we are talking about a promise made by a bankrupt government.

But I assure you not to worry about the Puerto Rican government breaking its promise. For one, the government needs productive people – and their tax revenue – more than productive people need Puerto Rico. So, there’s an advantage there for individuals.

And second, Puerto Rico issues a binding contract between the government and individuals who qualify for the incentives. The government is contractually obligated to honor its commitments well out into the future.

There’s also a growing case law that prevents the Puerto Rican government from breaking contracts.

For example, over the last few years, there was a famous case involving Walmart in Puerto Rico. Puerto Rico had extended a special tax incentive. But the government felt like Walmart wasn’t keeping up its end of the bargain. So, the government sued Walmart for additional tax revenue that wasn’t part of the contract.

The case went to court here in Puerto Rico. And the government lost. The Puerto Rican judge who ruled against the government said the government must honor the signed contract.

And if in the future, the Bolsheviks in Washington will press Puerto Rico to end the incentives altogether, all current participants will be grandfathered under the old rules according to the contracts signed.

So, with that hesitation answered, let’s move on to the next one…

Hesitation #2: I’m not a multi-millionaire. Can I still qualify?

YES.

There are plenty of wealthy people here. But I also know people in Puerto Rico who make $60,000 per year and are doing well.

Also, there are expensive areas around the capital of San Juan. But there are also pockets of San Juan perfectly suited for middle class people. 

And if you get out to the west and southern coasts or to the island’s interior, your tax savings and a lower cost of living means a nice life here.

Hesitation #3: Is it worth it?

There’s no better risk-adjusted return than saving money on taxes.

Otherwise, to achieve an extra 30% return on investment, you’ll have to take some serious risk. Or break the law.

But saving on taxes means no investment risk. Instead of handing over that money earmarked for Uncle Sam, it’s now earmarked for your pocket.

And if you compound tax savings over years and decades, that’s a life-changing amount of money. For example, after several years, just your tax savings would be enough to buy a house.

And Puerto Rico’s tax incentives are not just helping the Act 20 and 22 individuals get wealthier…

You can help boost the Puerto Rican economy

All this capital injection is also doing wonders for the island’s economy and for fellow Puerto Rican residents. 

For starters, Puerto Rico is able to recapitalize its banks. The surge in deposits allows banks to make additional loans for long-term projects. And this translates into more economic activity and job creation.

Puerto Rico is also generating economic activity from its newcomers’ spending. 

For example, a new arrival needs a car, which means a sales commission for the car salesman. And this salesman celebrates by going to dinner with his or her spouse. They may leave a big tip for the waiter or waitress, and so on down the line…

I saw a study that each individual who moved to Puerto Rico has created eight jobs.

I’m incredibly proud to be a part of Puerto Rico’s turnaround story. It’s a win-win. I get to keep the money I earned through hard work, and I can invest in Puerto Rico or spend as I wish.

And that’s the power of just my tax savings. Multiplied by the number of newcomers, we’ve got the opportunity to really make an impact here in Puerto Rico.

Puerto Rico is not the only way to save on Taxes for Americans
Consider this incredible incentive too…

If you are sitting on unrealized capital gains – stocks, real estate, art, crypto… – Opportunity Zones may offer amazing tax benefits.

It’s a brand-new program that was buried inside President Trump’s 2018 tax reform legislation.

Through the program, you can sell your appreciated assets, defer capital gains tax, and invest the proceeds into one of 9,000 designated distressed communities across America.

Most of Detroit and Baltimore is an Opportunity Zone… and even parts of Manhattan.

Your investment in real estate, an existing business, a new business, etc. located in an Opportunity Zone can grow completely tax-free for decades.

The program is still new, but it is already a huge success with billions of dollars pouring into America’s distressed communities.

You can learn more about Opportunity Zones and my personal experience with it in this in-depth article.

Frequently Asked Questions

If you don’t have time to read the full article, here are the most frequently asked questions we get…


What’s new in 2020 for Puerto Rico’s Tax Incentives?

In late June 2019, Puerto Rico completed a massive overhaul of their tax incentives, enacting the Incentives Code.

The new law does NOT eliminate the existing incentives. It systematizes dozens of incentive acts – Acts 20 and 22 are just the most famous ones – that Puerto Rico has enacted over the years.

The law came into effect on January 1, 2020 and altered previous legislation.

Act 22 became more costly to comply with. The mandatory annual donation to Puerto Rican charity increased from $5,000 to $10,000. And within the first two years of living there you now need to buy a home in Puerto Rico.

The annual filing fee (just for Act 22) also increased from $300 to $5,000.

On the bright side, conditions for Act 20 remained largely the same. Under the new rules, If your Act 20 company churns $3,000,000 (or more) of revenue a year, you will need to employ a full-time employee in Puerto Rico. And that single employee can be you actively managing your business.

The Acts themselves are not even called Acts anymore: For example, Act 20 became Chapter 3 of Act 60 of the Incentives Code – Exportation of Goods and Services. And Act 22 is now part of Act 60, Chapter 2 – Individuals.

Continue reading the full article to learn about my PERSONAL experience with Puerto Rico’s tax incentive and learn how you too can dramatically slash your taxes.


What is Puerto Rico’s Act 20?

Act 20 is known as the Export Services Act, now Chapter 3 of Act 60 of the Incentives Code.

It allows you to slash your corporate tax rate to only 4% and dividends paid to you personally from your Act 20 company to ZERO.

The key to obtaining this 4% corporate tax rate is that you’re providing a service or services exported outside of Puerto Rico.

The Export Services Act is interesting, because of its extremely broad legislation. So, even if your primary business doesn’t fit within the “services” space, there’s a way to qualify for the 4% corporate tax rate.

Continue reading the full article to hear examples of how different businesses take advantage of this incentive to slash their taxes.


What is Puerto Rico’s Act 22?

Act 22 is the Individual Investor Act, now Chapter 2 of Act 60 of the Incentives Code.

If you’re an investor based in the US, you’re paying a top 20% tax on dividends and capital gains, potentially the 3.8% Obamacare surcharge tax (for those married filing jointly with over $250,000 in annual income) and a host of state and local taxes.

But if you pack up and move down to sunny and beautiful Puerto Rico, then all your future capital gains on stocks, bonds and crypto… become tax free.

Additionally, any dividends, interest, and royalties you may receive from Puerto Rican sources will also be tax-free.

That’s right. The IRS won’t touch any of your investment income.

Click here to read the full article and learn more about how to slash both your investment and company’s taxes with Puerto Rico’s incentives.


I’m not a multi-millionaire. Do Puerto Rico’s tax incentives still make sense for me?

Yes. There’s no better risk-adjusted return than saving money on taxes.

Otherwise, to achieve an extra 30% return on investment, you’ll have to take some serious risk.

But saving on taxes means no investment risk. Instead of handing over that money earmarked for Uncle Sam, it’s now earmarked for your pocket.

And if you compound tax savings over years and decades, that’s a life-changing amount of money. For example, after several years, just your tax savings would be enough to buy a house.

There are plenty of wealthy people here. But I also know people in Puerto Rico who make $60,000 per year and are doing well.

Also, there are expensive areas around the capital of San Juan. But there are also pockets of San Juan perfectly suited for middle class people. And if you get out to the west and southern coasts or to the island’s interior, your tax savings and a lower cost of living means a nice life here.

Continue reading the full article to learn about my PERSONAL experience with Puerto Rico’s tax incentive and learn how you too can dramatically slash your taxes.

Conclusion

Here’s what I encourage you to consider…

Book a flight and get down here as soon as possible. Puerto Rico is only a short flight from cities on the US east coast. So, you can even take a weekend trip. (Although, if you can, I recommend spending several weeks on the ground before you move down.)

And something you can do immediately is sign up for our free Notes From the Field daily dispatch.

I frequently travel around the world to find exciting business opportunities, discover risks in our financial system and economies, and offer solutions, like Puerto Rico, that make sense no matter what happens next.

Puerto Rico is now my official home base, so I usually check in from Bahia Beach – just east of San Juan – and from time to time, I also write about what’s developing here.

I’m really optimistic about Puerto Rico’s future. And I’m excited that I can legally maximize my tax savings in such a beautiful place.

Think what we’re doing makes sense?
Get to know us more…

Join over 100,000 subscribers who receive our free Notes From the Field newsletter, where you’ll get real boots-on-the-ground intelligence as we travel the world and seek out the best opportunities for our readers.

It’s free, it’s packed with information, and best of all, it’s short… there’s no verbose pontification here – we both have better things to do with our time.

And while I appreciate all the visitors who stop by our website, I provide special bonuses to our email subscribers… including free premium intelligence reports and other valuable content that I only share with them.

It’s definitely worth your while to sign-up, and if you don’t like it, you can unsubscribe at any time with just one click.

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Al Sharpton: President Trump ‘and his cronies’ will pay for their ‘many crimes.’ But the good reverend is mum on his own tax history.

During the “Gotcha!” portion of his MSNBC program Sunday, Al Sharpton went to work on President Donald Trump, going over a lengthy list of folks the president may pardon soon following his pre-Thanksgiving pardon of former national security adviser Mike Flynn.

Who could be next? Paul Manafort? Rick Gates? Steve Bannon? Elliott Brody? Trump himself?

Sharpton then said “the villains in the Trump administration cannot be granted a total reprieve with the presidential pardon because the president of the United States can only pardon federal crimes. He has absolutely no power over state charges, and nearly everyone in the Trump orbit is facing state-level liability.”

He added that Trump “and his adult children are facing multiple tax fraud cases. His son-in-law, Jared Kushner, is under investigation for falsifying real estate documents, and Paul Manafort could see a revival of state charges, just to make a few. And none of those can be disappeared with the presidential pardon. The president and his cronies will be held accountable for their many crimes. The turkeys have come home to roost. And I gotcha.”


POLITICS NATION WITH REV AL GOTCHA RE tRump TURKEY 11 29 2020

youtu.be

What about Sharpton?

It’s one thing for a cable news host to call out elected officials and their employees over purported criminal activities, but it’s quite another thing when said host does the calling out while legal questions surround him.

USA Today reported in September that Sharpton owed nearly $700,000 in back taxes for three for-profit businesses.

In addition, the New York Post reported earlier this month that Sharpton’s charity, the National Action Network, paid Sharpton’s 33-year-old daughter $63,250 last year to do social media work and consulting and paid his 45-year-old niece $13,750 for special-event work in NAN’s Atlanta bureau, citing the group’s most recent tax filing.

NAN also gave a $5,000 grant to Sharpton’s wife, from whom he separated in 2004, the Post reported, adding that the amount was listed on the form as scholarship money.

Sharpton — NAN’s president — received a “modest raise of 1% in 2019, bringing his pay to $327,570,” the paper added.

The Post also said Sharpton’s relationship with NAN “raised eyebrows in 2018 when tax filings revealed he was selling the rights to his life story to the nonprofit for $531,000. NAN said it would make money by selling the rights to filmmakers or others although it’s unclear if any cash has come in.”

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99.9% CHANCE TRUMP GETS THE BOOT!

This article was contributed by Future Money Trends. 

Unless something that not even the authors of the most elaborate Hollywood sci-fi movie can concoct, happens in a few days (or weeks), Joe Biden will be announced as the 46th President of the United States.

I’m not saying that because I don’t believe that there were voting irregularities, but I don’t want to provide false hope to Trump supporters. There is no smoke without a fire, so clearly, things did happen, but the lead between the two candidates is 4.3M votes, so it has to be one giant scandal, if the ballots were messed with.

There will be recounts and there will be and already are court appeals, but from all of the data that I’ve been able to put together, the world is now preparing for a Biden presidency.

The big question is whether or not the Georgia recount will actually flip the state in terms of their Senators, which might give the Democrats a “blue sweep,” a result that the markets are currently not pricing in and they definitely do not like!

The markets have celebrated the gridlock situation in Washington since they’ve deduced it to mean that in the next four years:

  1. We won’t see any tax hikes (or cuts)
  2. No new wars (probably)
  3. No reckless spending programs on climate change initiatives
  4. No resumption of the Obama-era massive regulatory environment
  5. No ban on fracking

Gridlock, for lack of a better word, guarantees that the majority of the pro-growth agenda from the Trump administration will remain intact (for the most part) and that the power struggles in Washington will probably be negotiated on an even keel since there will be checks and balances between the red and blue agendas.

It also means that any delays in fiscal programs due to feistiness between the two sides will be resolved through currency printing by the Federal Reserve, in the interim.

Courtesy: Zerohedge.com

We are left with the following question: how will global markets and the U.S. stock market trade in light of this new era upon us – Will it be more like 1987 or more like 2009?

This week, the dollar weakened greatly.

Stocks soared by the most they have in a post-election week since Franklin Delano Roosevelt was sworn in in the early 1930s.

Here are some worrisome risks to consider, going forward:

  1. Will Biden’s inauguration usher in a period of lockdowns?
  2. Will Trump, in the interim period, wish to approve and oversee a massive stimulus program as his last hurrah?
  3. Are more stories about Hunter Biden’s laptop going to create national security risks for Joe’s approval process?

With these in mind, I want to recap the performance of our five watch lists from 2020 (starting with the first one) and also note that we’ll publish additional summaries of companies not mentioned in these reports but that we did profile in these pages. We’ll be doing this in the coming days and weeks, as well as highlighting two new opportunities!

The first watch list was posted right after the March Madness week. It offered once-in-a-decade (some say even more) opportunities to consider stocks while they sold off badly. The watch list, which can be accessed HERE, was comprised of 27 securities in total.

26 securities are up considerably, with a number of them trading 100%+ above their March lows, an impressive achievement.

Expect updates on our other 4 watch lists, as well as companies mentioned in this newsletter this year. It’s been a tremendous comeback year since March and we’ve got plenty to report on!

The post 99.9% CHANCE TRUMP GETS THE BOOT! first appeared on SHTF Plan – When It Hits The Fan, Don't Say We Didn't Warn You.

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Goodbye Middle Class: Half Of All American Workers Made Less Than $34,248.45 Last Year

This article was originally published by Michael Snyder at The Economic Collapse Blog. 

If you are making less than $3,000 a month, you have plenty of company, because about half of the country is in the exact same boat.  The Social Security Administration just released new wage statistics for 2019, and they are pretty startling.

To me, the most alarming thing in the entire report is the fact that the median yearly wage was just $34,248.45 last year.  In other words, half of all American workers made less than $34,248.45 in 2019, and half of all American workers made more than $34,248.45.  That isn’t a whole lot of money.  In fact, when you divide $34,248.45 by 12 you get just $2,854.05.  Needless to say, it is not easy to survive in America today on just $2,854.05 a month, and this may help to explain why we have been seeing so many people fall out of the middle class in recent years.

And of course, all of the figures that I am sharing with you in this article are just for 2019.  This year, we have seen more than 63 million Americans file new claims for unemployment benefits as the U.S. economy has imploded during this pandemic, and so the final wage numbers for 2020 could be quite a bit worse than the numbers for 2019 were.  Please keep that in mind as you go through the rest of this article.

Once upon a time in America, a single income could easily support a middle-class household in most cases, but those days are long gone.

The cost of living has been rising far faster than our paychecks have, and as a result, many Americans have been working themselves to the bone just to survive financially from month to month.

To give you an idea of just how bad things have gotten, I would like to share with you some key numbers from the report that the Social Security Administration just released

-32.26 percent of American workers made less than $20,000 last year.

-44.79 percent of American workers made less than $30,000 last year.

-56.46 percent of American workers made less than $40,000 last year.

-65.91 percent of American workers made less than $50,000 last year.

Today, the poverty level for a household of five in the United States is $30,680.

That means that close to half of all workers in this country do not even make enough to get a family of five above the poverty level.

Wow.

There are tens of millions of Americans that are referred to as “the working poor” because they are living in poverty even though they are employed and are working extremely hard.  Many of you that are reading this article know exactly what I am talking about.  Some of you are working way more than 40 hours a week, and yet there never seems to be enough money at the end of the month.

Sadly, the truth is that our system has evolved in a manner that makes it almost impossible for most Americans to ever build up much wealth.

If you are making the median monthly wage of just $2,854.05, there simply is not going to be much leftover after all of the bills are paid.  First of all, you are going to need someplace to live.  In the middle of the country, you may be able to find something habitable for under $1,000 a month but in most of our major metropolitan areas that simply is not going to be realistic.

Secondly, you are going to need to pay your utility bills.   If you can keep the combined cost of your power, water, phone, television, and Internet bills to about $250 a month, you are doing quite well.

Thirdly, you will need a vehicle in order to get around, and these days it is hard to buy or lease a vehicle for less than $300 a month.  In addition, you will also need insurance, and that will set you back even more.

Fourthly, you will need health insurance.  If you are young and single, maybe you can find a plan for just a few hundred dollars a month, but most Americans pay far more.

Fifthly, you will probably want to eat, and that will cost you several hundred dollars a month as well.

At this point, almost all of your money is already gone, and there are so many expenses that I haven’t even mentioned yet.

And of course you never even started with $2,854.05 in the first place, because all sorts of taxes were taken out of your paycheck before you even got it.

Are you starting to understand why so many families in America are deeply, deeply struggling today?

We have an economy that works for those at the very top of the food chain, but pretty much everyone else is desperately trying to stay afloat.

And now we have entered an economic downturn during which tens of millions of Americans have lost their jobs.  According to John Williams of shadowstats.com, if honest numbers were being used the real unemployment rate in the U.S. would be 26.9 percent right now, and that would rival the worst levels that we witnessed during the Great Depression of the 1930s.

Others have come up with similar numbers.  For example, Axios is reporting that the “true unemployment rate” in the United States is currently 26.1 percent

A person who is looking for a full-time job that pays a living wage — but who can’t find one — is unemployed. If you accept that definition, the true unemployment rate in the U.S. is a stunning 26.1%, according to an important new dataset shared exclusively with “Axios on HBO.”

No matter how you want to crunch the numbers, everyone should be able to agree that millions upon millions of Americans are really hurting financially and are deeply concerned about the future.

And they have good reason to be concerned about the future because our economic system is in the process of imploding.

For decades, the greatest debt bubble in the history of the world allowed us to enjoy a level of debt-fueled prosperity that was far greater than we actually deserved.

Now the party is ending, and our society is going to experience an enormous amount of pain as everything changes.

***Michael’s new book entitled “Lost Prophecies Of The Future Of America” is now available in paperback and for the Kindle on Amazon.***

About the Author: My name is Michael Snyder and my brand new book entitled “Lost Prophecies Of The Future Of America” is now available on Amazon.com.  In addition to my new book, I have written four others that are available on Amazon.com including The Beginning Of The EndGet Prepared Now, and Living A Life That Really Matters. (#CommissionsEarned)  By purchasing the books you help to support the work that my wife and I are doing, and by giving it to others you help to multiply the impact that we are having on people all over the globe.  I have published thousands of articles on The Economic Collapse BlogEnd Of The American Dream, and The Most Important News, and the articles that I publish on those sites are republished on dozens of other prominent websites all over the globe.  I always freely and happily allow others to republish my articles on their own websites, but I also ask that they include this “About the Author” section with each article.  The material contained in this article is for general information purposes only, and readers should consult licensed professionals before making any legal, business, financial, or health decisions.  I encourage you to follow me on social media on Facebook and Twitter, and anyway that you can share these articles with others is a great help.  During these very challenging times, people will need hope more than ever before, and it is our goal to share the gospel of Jesus Christ with as many people as we possibly can.

The post Goodbye Middle Class: Half Of All American Workers Made Less Than ,248.45 Last Year first appeared on SHTF Plan – When It Hits The Fan, Don't Say We Didn't Warn You.

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Economy Intelwars tax code TAXES World

Top 25 countries with the most competitive tax codes in 2020 revealed

Though not usually considered the sexiest of topics, national tax polices impact the daily lives of billions of people a year. For that reason, the Tax Foundation, a tax policy nonprofit, issues an annual International Tax Competitiveness Index.

The organization posted its 2020 index Wednesday, and the news isn’t great for the U.S., which ranked No. 21 in the report.

What is this report?

It’s important to understand countries’ tax policies to have an idea of how those countries’ economies might fare.

As the Tax Foundation noted in its report Wednesday:

The structure of a country’s tax code is an important determinant of its economic performance. A well-structured tax code is easy for taxpayers to comply with and can promote economic development while raising sufficient revenue for a government’s priorities. In contrast, poorly structured tax systems can be costly, distort economic decision-making, and harm domestic economies.

The index is designed to offers a look at Organisation for Economic Co-operation and Development member nations’ tax systems and how closely they stick to the important aspects of competitiveness and neutrality. From the report:

A competitive tax code is one that keeps marginal tax rates low. In today’s globalized world, capital is highly mobile. Businesses can choose to invest in any number of countries throughout the world to find the highest rate of return. This means that businesses will look for countries with lower tax rates on investment to maximize their after-tax rate of return. If a country’s tax rate is too high, it will drive investment elsewhere, leading to slower economic growth. In addition, high marginal tax rates can lead to tax avoidance.

According to research from the OECD, corporate taxes are most harmful for economic growth, with personal income taxes and consumption taxes being less harmful. Taxes on immovable property have the smallest impact on growth.

Separately, a neutral tax code is simply one that seeks to raise the most revenue with the fewest economic distortions. This means that it doesn’t favor consumption over saving, as happens with investment taxes and wealth taxes. This also means few or no targeted tax breaks for specific activities carried out by businesses or individuals. […]

A tax code that is competitive and neutral promotes sustainable economic growth and investment while raising sufficient revenue for government priorities.

The index scores OECD nations on their corporate, individual, consumption, and property taxes, as well as their international tax rules. The combination of those scores is used to create an overall score.

The United States came in 21st in the 2020 ranking, dropping from 20th place in the 2018 and 2019 rankings.

Below are the 25 OECD member nations with the most competitive tax codes, according to the index, along with their overall scores in the 2020 report and their 2018 and 2019 rankings.

Top 25 countries with most competitive tax codes in 2020

No. 1: Estonia (Score: 100)

  • 2018 ranking: 1
  • 2019 ranking: 1

No. 2: Latvia (Score: 84.4)

  • 2018 ranking: 2
  • 2019 ranking: 2

No. 3: New Zealand (Score: 82.4)

  • 2018 ranking: 3
  • 2019 ranking: 3

No. 4: Switzerland (Score: 77.1)

  • 2018 ranking: 5
  • 2019 ranking: 4

No. 5: Luxembourg (Score: 76)

  • 2018 ranking: 4
  • 2019 ranking: 6

No. 6: Lithuania (Score: 75.8)

  • 2018 ranking: 6
  • 2019 ranking: 5

No. 7: Sweden (Score: 74)

  • 2018 ranking: 7
  • 2019 ranking: 7

No. 8: Czech Republic (Score: 73.1)

  • 2018 ranking: 8
  • 2019 ranking: 8

No. 9: Australia (Score: 71.4)

  • 2018 ranking: 11
  • 2019 ranking: 9

No. 10: Slovak Republic (Score: 69.9)

  • 2018 ranking: 10
  • 2019 ranking: 11

No. 11: Turkey (Score: 69.9)

  • 2018 ranking: 14
  • 2019 ranking: 10

No. 12: Austria (Score: 68.7)

  • 2018 ranking: 12
  • 2019 ranking: 12

No. 13: Norway (Score: 68.1)

  • 2018 ranking: 13
  • 2019 ranking: 14

No. 14: Hungary (Score: 67.9)

  • 2018 ranking: 16
  • 2019 ranking: 15

No. 15: Germany (Score: 67.9)

  • 2018 ranking: 15
  • 2019 ranking: 13

No. 16: Finland (Score: 65.7)

  • 2018 ranking: 17
  • 2019 ranking: 17

No. 17: Netherlands (Score: 65.5)

  • 2018 ranking: 9
  • 2019 ranking: 16

No. 18: Canada (Score: 65.3)

  • 2018 ranking: 18
  • 2019 ranking: 18

No. 19: Belguim (Score: 64.1)

  • 2018 ranking: 21
  • 2019 ranking: 23

No. 20: Ireland (Score: 63.1)

  • 2018 ranking: 19
  • 2019 ranking: 19

No. 21: United States (Score: 62.9)

  • 2018 ranking: 20
  • 2019 ranking: 20

No. 22: United Kingdom (Score: 61.6)

  • 2018 ranking: 24
  • 2019 ranking: 21

No. 23: Slovenia (Score: 61.4)

  • 2018 ranking: 25
  • 2019 ranking: 24

No. 24: Korea (Score: 59.9)

  • 2018 ranking: 22
  • 2019 ranking: 25

No. 25: Israel (Score: 59.2)

  • 2018 ranking: 32
  • 2019 ranking: 31
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China COVID-19 draconian laws Drama Economy experts Fear Forecasting Headline News Hedge Funds Intelwars markets pandemic plandemic recovery scamdemic Selling taxation is theft TAXES trade war United States

COME TO MAMA: Stocks & Metals BOTTOMED!

This article was originally published by Tom Beck at Portfolio Wealth Global. 

For three weeks, we’ve been explaining HOW CRUCIAL it is not to be PARALYZED BY the incessant fear and drama of those who are comparing 2020 with 1929 – it really isn’t.

There are REAL FORCES in motion, both in China and the USA, the two largest economies, which are GROWTH-ORIENTED.

Courtesy: Zerohedge.com

People are just NOT DOING their homework; the recovery is underway from this not-so-bad pandemic. The FORCE OF INERTIA behind this willingness to STAND FIRM and live with the disease is great; the masses do not want to be quarantined a SECOND TIME.

The fact of the matter is that we’re seeing an INSANE AMOUNT of selling and the only reason is that there’s an election in the pipeline; it’s not the second wave that is spooking markets. I want to remind everyone that the ECONOMIC MACHINE is bigger than any one president and it’s bigger than any one administration.

Entrepreneurs ADAPT; they adjust to trade wars, tariffs, taxes, interest rates, worker unions – they can PRETTY MUCH absorb all shocks. Just about the ONLY THING they can’t do is face DRACONIAN LAWS, but we’re not there yet…

Courtesy: Zerohedge.com

Judging by the number of hedge funds closing their doors, we believe this is a HUGE MISCONCEPTION on the part of the value-investing veterans, who equate this to a bubble.

In a world where $13tn is STUCK IN NEGATIVE-yielding bonds, there’s so much MORE UPSIDE for businesses, stocks, commodities, and just about anything!

I implore you to realize that the bubble is in GOVERNMENT DEBT and that the rest is PEANUTS compared to that.

Today, a presidential debate is happening and afterward, the world of investing will have MORE CLARITY on the identity of the leader of the free world in the next four years, but don’t think that STOCKS WILL crash or surge, solely due to that.

I’m positively convinced that a recovery is well IN MOTION and that the level of breakthrough innovation that’s occurring is UNDERESTIMATED.

Stay LONG; it’s the natural position to be in.

The post COME TO MAMA: Stocks & Metals BOTTOMED! first appeared on SHTF Plan – When It Hits The Fan, Don't Say We Didn't Warn You.

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California refugees Exodus from california high taxes Intelwars Jeffrey gundlach leaving caliornia Leaving california People leaving california TAXES

Billionaire bond manager hints at joining exodus out of California over Democrat proposal to increase taxes

A famous billionaire bond fund manager says he is considering following the “smart people” who are leaving California in order to escape high taxes, including a new proposal by Democrats.

Jeffrey Gundlach is believed to be worth $2.2 billion, and he manages a hedge fund with assets adding up to $123 billion.

On Saturday, he hinted that he would leave California and take his money to less taxing lands.

“Elon Musk, Joe Rogan and Ben Shapiro, to name just a few, are leaving California to escape incompetent governance. The ‘response’ from Sacramento? Wealth and massive income tax increases on job creators (AKA ‘the wealthy’),” Gundlach tweeted.

“Should I align with 3 smart guys, or Sacramento? Hmmm,” he added.

Democrats in California have proposed increasing the tax rate on the highest earners from 13.3% to 16.6%.

Joe Rogan, the massively popular podcast host, railed against the poor governance in California and announced that he was moving to Texas in order to escape the high taxes, homelessness, and population density in the state.

Ben Shapiro made a similar announcement that he would be moving his Daily Wire news business and its 75 employees from California to Nashville, Tennessee.

“I love the state, grew up in the state, married in the state and have had children in the state,” he said on Fox News. “We’re out.”

In May, Elon Musk criticized the local California government for what he thought were draconian measures against the coronavirus pandemic. He said that he was closing up his Tesla headquarters and moving it to Texas or Nevada.

A study from 2018 said that nearly 700,000 Californians left the state for greener pastures. More of them left for Texas than any other state, with Nevada, Arizona, and Washington among the other top destinations for California refugees.

“I’m sorry,” said Shapiro of California. “That is not a great place to raise children and not a great place to build a company.”

Here’s more about the exodus out of California:


Fleeing California

www.youtube.com

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cashing out Dollar dollar crash election chaos Emergency Preparedness experts Forecasting Gold Headline News Intelwars mining stocks October Selling Silver Stock Market taxation is theft TAXES traders uncertainty United States Warren Buffett

GOLD DUMPED: Don’t Just STAND THERE!

This article was contributed by James Davis with Future Money Trends. 

The dollar is punishing traders; throughout July and August, the dollar was HEAVILY SHORTED, as we pointed out and warned about. So far in 2020, we’ve called EACH MAJOR move of the dollar and precious metals ahead of time – this is a big correction for stocks, gold, and silver, but we’re forecasting that the MAJORITY OF IT is behind us.

The main reason for the SELL-OFF in gold and silver is the rise in REAL RATES, whereas the reason stocks have entered a correction is because of ELECTION UNCERTAINTY and healthy de-leveraging after August was SUPER-EUPHORIC.

Courtesy: Zerohedge.com

So far, in 2020, each breakdown below the 200-DMA has been a HUGE OPPORTUNITY to buy mining stocks and physical gold.

You can also observe that each time has been QUICK, lasting two or three weeks AT THE MOST; gold has massive support.

My point is that if one is UNDER-INVESTED in precious metals, this is a potential discount window before we resume the uptrend.

This coming week, markets will receive SOME CLARITY, as the presidential debate will be a PIVOTAL MOMENT in American history!

It’s a big week; please don’t STAY INDIFFERENT to the gravity of the debate because much is riding ON IT!

Courtesy: Zerohedge.com

This uncertainty is what’s REALLY DRIVING the huge surge in dollar demand; the wait and see approach is manifesting in the dash for cash and there could be MORE OF IT as we enter October, but Friday’s action towards the end of the session might signal the end of the correction, so STAY TUNED.

It now becomes a question of what’s next to come after the huge gains we’ve ALREADY EXPERIENCED in 2020 and the answer is, as it ALWAYS IS, that no one knows.

What we know is that the NASDAQ 100 is 13% cheaper than it was at the end of August and that the S&P 500 is 10% cheaper than it was just three weeks ago.

Everyone is selling and cashing out; are you doing THE EXACT opposite?

Courtesy: Zerohedge.com

There are ELECTION JITTERS, but ask yourself this: will interest rates be different if a Republican or Democrat is in office?

Ask yourself the same question about stocks: are companies going to be worth less because of who’s in the WHITE HOUSE? Here, the answer is YES; higher corporate taxes make stocks less attractive.

COVID-19 has made many companies face DIRE CONDITIONS, so my thought is that as the mining companies report earnings GOING INTO OCTOBER, the dramatic results will bring back investors like Warren Buffett and the sector will GO NUTS.

The post GOLD DUMPED: Don’t Just STAND THERE! first appeared on SHTF Plan – When It Hits The Fan, Don't Say We Didn't Warn You.

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NASDAQ NOSEDIVES: Can You Handle THE HEAT?

This article was contributed by Tom Beck of Portfolio Wealth Global.

We warned all throughout the MONTH of AUGUST that markets just don’t accept the REALITY of VALUATIONS anymore and one week afterward, the S&P 500 and NASDAQ peaked and have since entered a correction (NASDAQ for now).

Historically, as we explained, September is the market’s WORST MONTH, but this is getting even more SCREWED UP since Europe is considering a second quarantine period while elections in the U.S., which are the BIGGEST UNKNOWN, are rapidly approaching.

Listen closely: Americans are so programmed by propaganda ON BOTH ENDS of the spectrum that the questions asked to everyday citizens reflect the SERIOUS NUMBNESS of the average voter:

 

Courtesy: Zerohedge.com

As you can see, the RACE IS TIGHT and the stakes are high!

Yesterday, I watched the amazing documentary “The Social Dilemma,” which proves beyond any shadow of a doubt what the business model incentives of social media giants are, and it will be them that DECIDE THE OUTCOME of this presidential run come November.

Between now and then, here’s what could HELP TRUMP, and below that is what could help BIDEN:

  1. Vaccine news – the cure will obviously be positive for Donald Trump, who will RIDE THE COATTAILS, taking credit for the record-fast approval process.
  2. Quarantines and school closures – I have no doubt that Democratic states are going to MAKE LIFE a living hell for residents because they must show Trump’s inadequacy with containing the pandemic.
  3. Debates – obviously, the more we allow these two TO CONFRONT each other, the more Trump has a chance to shine.
  4. Social unrest – if chaos returns, police defunding claims will bring voters to Trump, who is against it. Police brutality, on the other hand, indirectly helps Biden.

Courtesy: Zerohedge.com

For now, markets are still IN SHOCK that Trump’s approval ratings aren’t what they were pre-COVID-19. In January, no one predicted a close race, so I believe that if Biden’s chances are real, it could be AN INITIAL re-rating of equities downwards due to the high probability of higher corporate taxes.

So, when looking at this -12% correction in the NASDAQ, don’t assume it has anything to do with the presidency because it doesn’t.

Prices of equities are TOO HIGH and it’s dawning on institutional investors that they can invest in the recovery by going LONG the beaten-down industries, thus leaving the “bubble territory” to the retail public to MESS WITH.

Now, after the dynamite has exploded, we believe institutions will use stink bids and get back into tech.

We sure are exploring the matter using THIS new watch list.

After already being out of the woods, the SECOND-WAVE mentality that is taking over is depressing and I expect many controversies in the COMING MONTHS.

Lastly, we’re working on a BIG ALERT that you don’t want to miss, so stay focused on what’s coming.

The post NASDAQ NOSEDIVES: Can You Handle THE HEAT? first appeared on SHTF Plan – When It Hits The Fan, Don't Say We Didn't Warn You.

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Intelwars TAXES

California Taxpayers Can Check Out Any Time They Like, But Lawmakers Still Want To Tax Those Who Leave

It’s the last day of session for the California Legislature, where state lawmakers have a few more hours to send another tax increase to Governor Gavin Newsom’s (D) desk. What’s unique about the latest tax proposals pending in Sacramento is that Golden State lawmakers are targeting more than future earnings. They’re also seeking to raise taxes on past earnings and levy the nation’s first tax on accumulated wealth.

Assembly Bill 1253, which already passed out of the California Assembly by a 59 to 17 vote in May, would create three new top income tax rates in a state that is already home to the nation’s highest income tax rate at 13.3%. “If passed,” writes Forbes contributor Robert Wood, “high income Californians would pay another 1% on income over $1,181,484, 3% on income over $2,362,968, and 3.5% on income over $5,907,420.” Not only that, AB 1253 applies these rate hikes retroactively to January 1, 2020.

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COMPUTERS/INTERNET/SECURITY CONSUMER RIGHTS / PRODUCT REPORTS CORPORATE MEDIA COVER-UP/DECEPTIONS/PROPAGANDA CURRENT EVENTS DICTATORSHIP Economy Education Entertainment HIDDEN HISTORY HUMOR AND SATIRE IMMIGRATION/NAU/GLOBALISM Intelwars POLITICS/ELECTIONS/CORRUPTION PROTESTS/REVOLUTION SCIENCE/HEALTH/CLIMATE/NATURE TAXES Video

SHOCKING ADMISSION: CDC Says Over 90% of Deaths Weren’t COVAIDS19 (without blocked intro video ) – The Dollar Vigilante


SHOCKING ADMISSION: CDC Says Over 90% of Deaths Weren’t COVAIDS19 and 90% of Tests False Positives

https://www.bitchute.com/video/LAXrdwr5ilgD/

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Intelwars TAXES

California Bill Would Apply Wealth Tax to Residents Who Fled the State in the Last 10 Years

A new so-called wealth tax in California would send tax bills even to people who have moved out of the liberal state.

The Democrats’ proposal for “an annual tax of 0.4 percent upon the worldwide net worth of every resident in this state,” according to the text of AB 2088, which would create the tax on a vast list of untaxed assets California wants to tax.

The tax would target not only current residents but anyone who has what the bill classifies as wealth and who has lived in California any time in the past 10 years. It would use a sliding scale based on the number of years a taxpayer lived in the state.

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COVER-UP/DECEPTIONS/PROPAGANDA CURRENT EVENTS DICTATORSHIP Economy Intelwars POLITICS/ELECTIONS/CORRUPTION TAXES

Democrat-run states need to bail themselves out, not demand that someone else foot the bill

Pelosi has repeatedly made it clear that neither she nor her colleagues are willing to make any kind of deal until and unless the cash starts flowing to leftist states. In essence, this is holding the rest of the country hostage, including the tens of millions of people who are still without work and struggling simply to make ends meet. — This continued stonewalling by Pelosi and the Democrats is hurting everyday Americans, in other words – but do they care? The answer is: of course not. They only care about themselves, and since they utterly failed to balance the budgets in their own collapsing states, they now want Trump to swoop in and save the day with taxpayer money from other states.

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Americans divided armed militias enemy withing Georgia Gold growing wealth Headline News Intelwars Japan Less-lethal LIES minority Prosperity TAXES United States uphill battle Virus we do not have free markets

ARMED MILITIAS: Severe Madness – MARKETS AREN’T READY!

This article was contributed by Lior Gantz of The Wealth Research Group. 

We believe that most market participants have just not realized HOW PROBLEMATIC the current situation really is. The global economy will prevail and resume growing and creating wealth, but that’s like saying that a climber will reach the summit of Mount Everest since he’s capable of doing so, even though he PRESENTLY has a BROKEN LEG and a cast on it.

If this climber — who has clearly proven his potential in the past by already reaching this peak — is getting the proper care, then it’s worth betting that he’ll recover and ascend to the pinnacle of his sport once more. BETWEEN NOW AND THEN, though, is it worth risking it all on his recovery, as if no delays and no challenges stand in the way?

America is internally DIVIDED on issues that, at least in my lifetime, haven’t surfaced since they’re so fundamental that they weren’t ever up for debate. Today, even the country’s founding fathers are cause for strife. America is FIGHTING DOMESTIC DEMONS, and though it has prevailed each and every time in the past, it has not been a SMOOTH RIDE.

The point is that there are more MINE FIELDS than lush meadows in the near-term, which is beneficial for GOLD PRICES.

Courtesy: Zerohedge.com

Look at these countries and understand that what REALLY MATTERS is not whether or not we ENACT QUARANTINES, but (1) how early we did so (as in the case of Japan, which also happens to be an island); (2) how disciplined the population is in following the basic mask-wearing indoors and hand-washing guidelines; and (3) how ready the healthcare system is since the government wants to be confident that hospitals won’t be overwhelmed.

Beyond any SHADOW OF A DOUBT, this virus is so much less lethal than was presumed in March, but discounting it entirely as an equivalent of the flu is WRONG AS WELL.

People have died, are dying, and will continue to die. We just HAVE TO ACCEPT that, adapt to it, learn the new RULES OF ENGAGEMENT, and get busy living our best lives.

The upcoming presidential election carries a lot of weight on the fate of the economic machine in America and worldwide. We do not have CAPITALISM and FREE MARKETS anymore in their pure sense of the word. Markets have morphed and it would be naïve, fatal, and inefficient to assume we’re going back to the GOOD OL’ DAYS.

Look at America dead in the eye; it is not this LIBERTY-FIRST constitutional republic that the founding fathers envisioned.

Yes, those types of people who believe in red-blooded America are still around, but they are the minority. They don’t call the shots and they don’t hold positions of power.

America’s enemy is FROM WITHIN. What gives it strength are the common values that its citizens share in the core ideas of free enterprise and the pursuit of happiness, but if those ARE NEGLECTED or ridiculed, what is America?

Therefore, the danger is that what separates the various factions of society is greater than what binds them.

Armed militias on the streets of Georgia, for example, are a clear sign that something is TERRIBLY WRONG.

Courtesy: Zerohedge.com

The world is MISTAKENLY BEEN LOOKING at America as a giant corporation instead of as a country.

What the global players in the financial scene give no CONSIDERATION TO is how much distress the REAL AMERICA is in.

The gravity of having so many voters feel like BOTH CANDIDATES don’t appeal to them is not all that rare, but we now have a situation in which many voters LITERALLY HATE the candidates. That, IN CONTRAST, is rare.

What’s next, then? Reducing taxes had a HUGE IMPACT on corporate earnings and we know Democrats are openly against this and will REVERSE TAXES in the U.S., which will hurt profits.

There’s a FINE BALANCE between how much the government can finance WITH DEFICITS and how much sustainable growth there is.

I wouldn’t be surprised if we saw the rise of a third party, apart from Democrats and Republicans, since there’s clearly a demand for it.

America is torn. If you believe that it can pull through without any issues, go LONG on stocks, but if you feel it’s an UPHILL BATTLE, look at gold.

 

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Americans divided armed militias enemy withing Georgia Gold growing wealth Headline News Intelwars Japan Less-lethal LIES minority Prosperity TAXES United States uphill battle Virus we do not have free markets

ARMED MILITIAS: Severe Madness – MARKETS AREN’T READY!

This article was contributed by Lior Gantz of The Wealth Research Group. 

We believe that most market participants have just not realized HOW PROBLEMATIC the current situation really is. The global economy will prevail and resume growing and creating wealth, but that’s like saying that a climber will reach the summit of Mount Everest since he’s capable of doing so, even though he PRESENTLY has a BROKEN LEG and a cast on it.

If this climber — who has clearly proven his potential in the past by already reaching this peak — is getting the proper care, then it’s worth betting that he’ll recover and ascend to the pinnacle of his sport once more. BETWEEN NOW AND THEN, though, is it worth risking it all on his recovery, as if no delays and no challenges stand in the way?

America is internally DIVIDED on issues that, at least in my lifetime, haven’t surfaced since they’re so fundamental that they weren’t ever up for debate. Today, even the country’s founding fathers are cause for strife. America is FIGHTING DOMESTIC DEMONS, and though it has prevailed each and every time in the past, it has not been a SMOOTH RIDE.

The point is that there are more MINE FIELDS than lush meadows in the near-term, which is beneficial for GOLD PRICES.

Courtesy: Zerohedge.com

Look at these countries and understand that what REALLY MATTERS is not whether or not we ENACT QUARANTINES, but (1) how early we did so (as in the case of Japan, which also happens to be an island); (2) how disciplined the population is in following the basic mask-wearing indoors and hand-washing guidelines; and (3) how ready the healthcare system is since the government wants to be confident that hospitals won’t be overwhelmed.

Beyond any SHADOW OF A DOUBT, this virus is so much less lethal than was presumed in March, but discounting it entirely as an equivalent of the flu is WRONG AS WELL.

People have died, are dying, and will continue to die. We just HAVE TO ACCEPT that, adapt to it, learn the new RULES OF ENGAGEMENT, and get busy living our best lives.

The upcoming presidential election carries a lot of weight on the fate of the economic machine in America and worldwide. We do not have CAPITALISM and FREE MARKETS anymore in their pure sense of the word. Markets have morphed and it would be naïve, fatal, and inefficient to assume we’re going back to the GOOD OL’ DAYS.

Look at America dead in the eye; it is not this LIBERTY-FIRST constitutional republic that the founding fathers envisioned.

Yes, those types of people who believe in red-blooded America are still around, but they are the minority. They don’t call the shots and they don’t hold positions of power.

America’s enemy is FROM WITHIN. What gives it strength are the common values that its citizens share in the core ideas of free enterprise and the pursuit of happiness, but if those ARE NEGLECTED or ridiculed, what is America?

Therefore, the danger is that what separates the various factions of society is greater than what binds them.

Armed militias on the streets of Georgia, for example, are a clear sign that something is TERRIBLY WRONG.

Courtesy: Zerohedge.com

The world is MISTAKENLY BEEN LOOKING at America as a giant corporation instead of as a country.

What the global players in the financial scene give no CONSIDERATION TO is how much distress the REAL AMERICA is in.

The gravity of having so many voters feel like BOTH CANDIDATES don’t appeal to them is not all that rare, but we now have a situation in which many voters LITERALLY HATE the candidates. That, IN CONTRAST, is rare.

What’s next, then? Reducing taxes had a HUGE IMPACT on corporate earnings and we know Democrats are openly against this and will REVERSE TAXES in the U.S., which will hurt profits.

There’s a FINE BALANCE between how much the government can finance WITH DEFICITS and how much sustainable growth there is.

I wouldn’t be surprised if we saw the rise of a third party, apart from Democrats and Republicans, since there’s clearly a demand for it.

America is torn. If you believe that it can pull through without any issues, go LONG on stocks, but if you feel it’s an UPHILL BATTLE, look at gold.

 

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amazon Intelwars Joe Biden TAXES

Amazon blisters Joe Biden in scathing response after he tells company to ‘pay its fair share’

Amazon fired back at Joe Biden on Friday after presumptive Democratic presidential nominee told the company it needs “to pay its fair share” in taxes.

The former vice president not only declared that Amazon must “pay its fair share,” but he claimed the company pays less in taxes than firefighters and teachers.

“I’ve said it before, and I’ll say it again: No company pulling in billions of dollars in profits should pay a lower tax rate than firefighters and teachers. It’s time for Amazon to pay its fair share,” Biden said.

However, Biden’s claims are not congruent with the truth.

Amazon — which has become a proverbial punching bag for the Democratic Party while arguing for increased taxes — published its 2019 tax profile in January amid increased scrutiny from Democrats.

The data showed that Amazon collected and paid more than $10 billion in taxes last year, which included:

  • More than $1 billion in federal income tax expense
  • More than $2.4 billion in other federal taxes, like payroll tax and customs duties (tariffs)
  • More than $1.6 billion in state and local taxes
  • Amazon also collected and remitted nearly $9 billion in sales and use taxes

Amazon fired back those facts in response to Biden’s criticism.

“.@JoeBiden We pay every cent owed. You spent 3 decades in the Senate & know that Congress wrote these tax laws to encourage companies to invest in the US economy. We have. 500k jobs w/ a min wage of $15/hr across 40 states,” the company wrote on Twitter.

“Assume your complaint is w/ the tax code, not Amazon,” the company added.

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Alexandria ocasio-cortez AOC HYPOCRISY Intelwars Progressives TAXES

AOC wants the rich to pay ‘fair share’ of taxes — but she still owes more than $2,000 in unpaid taxes from 2012

Democratic socialist Rep. Alexandria Ocasio-Cortez (D-N.Y.) wants America’s wealthy citizens to pay “their fair share in taxes” — but she has failed to pay taxes she has owed for seven years. And the bill has grown to more than $2,000.

What’s going on with AOC’s taxes?

In an ongoing investigation, the New York Post has found that Ocasio-Cortez owes New York $2,089 connected to a failed publishing business she started in 2012.

According to the Post, the state dissolved AOC’s business in October 2016, which it can do when a company does not pay the corporate taxes it owes. After shuttering the business, the state filed warrant against the congresswoman’s business for $1,618 in July 2017, the Post said.

In March 2019, an AOC spokesman told the newspaper that the taxes would be paid right away.

However, with the bill having climbed to nearly $2,100, the lawmaker’s office is “contesting the tax warrant,” saying the bill was issued “in error,” the Post reported.

Paying a ‘fair share’

The far-left progressive House member has been an advocate for wealth redistribution for years. One of her signature issues since being sworn into Congress in January 2019 has been a 70% tax on the rich.

Why? For Ocasio-Cortez, it’s because the nation’s wealthiest have gotten away with not paying the taxes she believes the should be paying, they haven’t been paying “their fair share.” As she told CBS’ “60 Minutes” days after joining the House: “There’s an element where, yeah, people are going to have to start paying their fair share in taxes.”

For the congresswoman, a “fair share” does not include the taxes she has owed for years.

AOC’s hypocrisy has not gone unnoticed by her Democratic primary challenger, Michelle Caruso-Cabrera.

“She just thinks she’s better than everyone else,” Caruso-Cabrera’s spokesman told the Post. “Clearly, she’s worse.”

AOC will face Democratic challengers in the June 23 primary in the 14th Congressional District, which covers portions of The Bronx and Queens.

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