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Trump's Estate Tax Giveaway To Rich Triggered 50% Drop In The IRS Revenue

No.966312 ViewReplyLast 50OriginalReport
Billionaires, meanwhile. have doubled their collective net worth to more than $5 trillion in just 5 years.

Revenue from the U.S. estate tax has been cut in half in two years, new data from the Internal Revenue Service shows, even as dynastic wealth soars.

Just 1,275 wealthy families paid $9.3 billion in estate tax to the U.S. Treasury in 2020. As recently as 2018, the IRS collected more than $20 billion from nearly 5,500 families.

The dramatic decline -- to the point where the tax is paid by 0.04% of dying Americans --
>is largely the result of the tax overhaul enacted by Republicans in 2017, which doubled the amount the wealthy can pass to heirs without triggering the levy.

Married couples can now transfer $23.4 million over their lifetimes tax-free, but families with vastly greater sums can hire sophisticated advisers to get around the tax. Nike Inc. founder Phil Knight used a variety of techniques to transfer billions of dollars to his family tax-free, according to a Bloomberg investigation last month.

The estate tax is “easy to minimize,” said Richard Greenberg, a lawyer at Greenberg & Schulman based in Woodbridge, New Jersey. “With the combination of the doubled exemption and all of the estate-planning techniques that are available, you can bleed a lot of money out of an estate and get a lot of wealth transferred.”

The estate tax’s haul of less than $10 billion now represents an imperceptible share of revenue for the federal government, which in the last fiscal year collected more than $4 trillion. The modern estate tax was introduced in 1916 to help counter the growth of dynastic wealth.

>Even before former President Donald Trump and Republican lawmakers loosened estate tax rules, revenue from the levy had stagnated, despite a surge of wealth among the very richest.
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The American media misses the true nature of the GOP threat but an international outlet does

No.970190 ViewReplyOriginalReport
Jack Dorsey announced today plans to step down as head of Twitter. That prompted Candace Owens to say the following: “I’ve been telling people for years. Jack Dorsey is not your enemy. He is a prisoner at his own company. Good thing the Parler app is finally working properly and looks amazing. The communists will fully run Twitter soon.”

If you don’t already know Candace Owens, all you need to know is that she’s a koshering virtuoso. Like some Jewish people who make anti-Semitism seem respectable, Owens, who is Black, makes white supremacy seem fine and dandy. She appears to think Jack Dorsey had been some kind of bulwark against liberal sensibilities. Now that he’s leaving, she said, “the communists will fully run Twitter soon.”

I don’t care what Owens thinks about anything. Neither should you. Every word she says -- including “a” and “the” -- is a variety of bad faith. Even hyping Parler is deceptive. Authoritarians can’t succeed on the margins of media and society, where Parler is. To sabotage their enemies, they must appear as respectable as a Black woman koshering white supremacy. By blaming the “communists,” Owens is reminding followers of what they already believe true: they are the real victims.

While I don’t care about Owens, and neither should you, we should care about the use of the right’s rhetoric of slander, of which the word “communist” has long played a part in American history. Liberals and progressives first looked to the government as a force of social reform in the early 20th century. Around that time, the Russian Revolution occurred (1917). Since then, the American right has smeared liberals by associating their policies and objectives with godless communism.
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LA city council makes home made/unsterilized guns double illegal or bans pipes

No.970802 ViewReplyOriginalReport
Guns without a serial number are already banned under California law. I literally don't get the point of making this double illegal.
>The ordinance prohibits the possession, purchase, sale, receipt or transport of a non-serialized unfinished firearm frame or receiver or non-serialized firearm. Such a weapon -- known as "ghost guns" because they are virtually untraceable -- can be assembled by unlicensed buyers from legally purchased kits.
either this is redundant to the Cali law that says you need to register homemade guns with the state government and receive a serial number for it, or this law is banning pipes and blocks of aluminum
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Russia proposes to make a Fallout prequel

No.970649 ViewReplyOriginalReport
Small nuclear units could be used as an alternative energy source in residential complexes. This proposal was voiced by Andrey Bagaev, deputy general director of Donstroy, in an interview to RIA News.

"I had one idea, which at first glance looks crazy, to use small nuclear units as an energy source in residential complexes," the developer said, adding that in Russia such technology is already used in icebreakers and nuclear submarines.

Bagaev said the nuclear plant could power homes in an area of 1.5 million square metres and would have a life span of seven years. "It is like putting in a battery for seven years: people do not know grief - there are no outages or colossal payments to grid companies for connection," the deputy director general said. He specified that it is possible to treat the proposal with humor, but nevertheless the future of the mankind is in the power of nuclear energy, therefore it is high time to think about such ideas seriously. According to the developer, to implement such initiatives it is necessary to change the legislation.

Some countries, including Russia, consider nuclear power as a source of green energy. At the same time, states such as Germany consider nuclear power to be dangerous. In November, France announced its intention to build new nuclear reactors, a measure that would lower energy prices and help meet the Paris Agreement's zero-emissions targets.
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Jury Sees Rehearsal of Hollywood Actor's Staged Fake Hate Crime

No.970539 ViewReplyOriginalReport
All of the MSM reported this attack as a legitimate hate crime when it initially occurred, but it turned out that it was a fake hate crime that was staged by the MSM in an attempt to further their anti-white racial hatred agenda.
>rreeeeeeeee! muh noose, muh evil white oppressors

CHICAGO — Embattled “Empire” actor Jussie Smollett was caught on surveillance video doing a “dry run” one day before his alleged hate crime attack, prosecutors said at his trial in Chicago Tuesday.

Prosecutors contend the footage confirms the actor faked the Jan. 29, 2019, alleged attack with Nigerian brothers Abimbola and Olabinjo Osundairo, who are expected to be key witnesses for the prosecution in the case.

Smollett’s lawyers claim the actor was really attacked — by the two brothers.

Prosecutors poked a hole in that claim Tuesday, revealing a text message sent by Smollett to one of the siblings a couple of weeks after the alleged attack, the Chicago Tribune reported.

“Brother…..I love you,” Smollett wrote to Abimbola Osundairo on Feb. 14, 2019. “I stand with you. I know 10000% you and your brother did nothing wrong and never would.”

“I am making this statement so everyone else knows,” the text said. “They will not get away with this. Please hit me when they let you go. I am behind you fully.”

The text came as the two brothers were being questioned in the case.

Chicago Police Det. Michael Theis, the first witness called to the stand, called it unusual.

“To this day, has Mr. Smollett ever come clean about this hate crime?” deputy special prosecutor Samuel Mendenhall asked the cop.

"Not that I’m aware of,” Theis responded.
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Antisemitic flyers left on homes in Beverly Hills linking Jewish people to Covid19

No.969567 ViewReplyOriginalReport [Embed]

BEVERLY HILLS, Calif. (KABC) -- The Beverly Hills Police Department has launched an investigation into what they're calling a "hate speech incident" after propaganda-style flyers about the COVID-19 pandemic and Jewish people were found at several homes.

Police say they received a call at around 6 a.m. on Sunday from a resident who reported seeing one of the flyers on their front yard.

nvestigators say after surveying the area, they found multiple flyers - which were tucked into small plastic bags - at homes throughout several blocks in the northeast area of the Flats.

A portion of the flyer reads, "Every single aspect of the COVID agenda is Jewish."

Police have since collected all of the flyers as part of their investigation.

The incident comes as many Jewish families prepare for the first night of Hanukkah - which, this year, begins at sundown on Sunday and ends Monday, Dec. 6.

The holiday celebrates the rededication of the Holy Temple in Jerusalem following the Maccabean revolt against the Syrian-Greek army. The holiday takes place for eight nights and days, commemorating the rededication of the Holy Temple.
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Federal Government Hires Foreigners over Americans

No.970783 ViewReplyOriginalReport
>Former State Department Employee Sentenced to Federal Prison for Embezzling more than $150,000 from Department of Defense

Foreigners turn out to be untrustworthy embezzlers, now the government has to pay to keep foreigners who never should have been here in the first place - and who wouldn't have been if not for the possibility of employment with the federal government - in prison.

global warming is fake science

No.967020 ViewReplyOriginalReport
scientists caught faking global warming again

they wouldn't need to fake global warming if it was real
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/pol/ was right again

No.967022 ViewReplyLast 50OriginalReport
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Fauci says U.S. should prepare to do anything to fight omicron variant

No.969307 ViewReplyOriginalReport
Americans need to be prepared to do “anything and everything” to fight the omicron Covid variant, U.S. infectious disease expert Dr. Anthony Faucisaid Sunday.

Still, it’s “too early to say” whether lockdowns or new mandates will be appropriate, Fauci said on ABC’s “This Week.”

The World Health Organization last week classified omicron as a “variant of concern,” meaning it is more contagious, more virulent or more skilled at evading public health measures, vaccines and therapeutics.

The variant, first discovered in South Africa, has several mutations to the spike protein that allows the virus to enter the body, and some of those mutations could lead to increased antibody resistance and transmissibility.

The U.S. had already saidit would restrict travel for non-U.S. citizensfromSouth Africa, Botswana, Zimbabwe, Namibia, Lesotho, Eswatini, Mozambique and Malawi. The variant hasbeen foundin theU.K., Israel,Belgium,the Netherlands,Germany, Italy, Australia and Hong Kong, but not yet in the U.S.

“Inevitably, it will be here. The question is will we be prepared for it? If and when, and it’s going to be when, it comes here hopefully we will be ready for it,” Fauci added.

Fauci will be meeting Sunday with PresidentJoe Bidenand the Covid response team to discuss the variant and the administration’s response, a White House official said.

Biotech companies have sprung into action to fight against omicron.Moderna’s Chief Medical Officer Paul Burton said Sunday the vaccine makercould roll out a reformulated vaccineagainst the omicron coronavirus variant early next year. Although it’s not clear whether new formulations will be needed or if current vaccines will provide appropriate protection.
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