JOE BIDEN'S TRICKLE UP ECONOMICS - FOLKS, MY CRONIES AND MODERN SLAVERS JEFF BEZOSHEAD AND APPLE PAY NO TAXES - IT'S ONLY FAIR THAT MIDDLE AMERICA PICK UP THE SLACK - Ron DeSantis: Inflation Reduction Act Expanding IRS Is ‘Middle Finger’ to Americans

Big Banks, Big Pharma, Big Tech Partner with Globalist Democrat For Open Borders and Endless Floods of ‘cheap’ Labor That Middle America Will Get the Tax Bills For the True (staggering) Cost

Amazon, Facebook Spend Millions Lobbying Congress for More Legal Immigration, Amnesty for Illegal Aliens

https://mexicanoccupation.blogspot.com/2022/05/joe-bidens-crony-modern-slaver-jeff.html

Refugee resettlement costs taxpayers nearly $9 billion every five years. Over the course of a lifetime, taxpayers pay about $133,000 per refugee and within five years of resettlement, roughly 16 percent will need taxpayer-funded housing assistance.

 

Ralph Nader: Biden's First Year Proves He Is Still a "Corporate Socialist" Beholden to Big Business

https://www.youtube.com/watch?v=2jTIUtjkDss 

 

BIDENOMICS: The issue is not the survival of what the leader of the most powerful imperialist country calls “democracy.” Joe Biden really means capitalism, the profit system, which has produced a level of economic inequality that is entirely incompatible with any genuine democracy. Instead, it is generating fascist movements all over the world, which aim to  abolish all democratic rights and subject the working class to the naked dictatorship of the rich. 

                                                         PATRICK MARTIN

Chamber of Commerce Cheers Biden’s Expansion of American Job Outsourcing for Amazon, BlackRock (blackrock is joe biden's biggest paymaster and operates out of the white house under gamer laweyr brian deese-a blackrock employee), Facebook

Profits of Doom: Globalist Elites Doubled Their Wealth During Coronavirus Pandemic

 

Ron DeSantis: Inflation Reduction Act Expanding IRS Is ‘Middle Finger’ to Americans

Chris O'Meara/AP

HANNAH BLEAU

18 Aug 20220

2:39

The left’s latest spending blitz, the so-called Inflation Reduction Act, is essentially a “middle finger” to Americans, Florida Gov. Ron DeSantis (R) said on Wednesday.

President Biden signed the Inflation Reduction Act, which focuses on climate change initiatives as well as massive IRS expansion, allotting billions to create what the House Freedom Caucus described as “an army of 87,000 new enforcement agents to target Americans with as many as one million additional audits per year on taxpayers earning less than $200,000 – the same middle-class suffering the most from the skyrocketing inflation of Bidenomics.”

Notably, most Americans do not believe the bill will actually reduce inflation, which remains at a 41-year high. A recent poll from The Economist/YouGov found that just 13 percent believe the measure will actually decrease inflation, but Biden remains in denial, deeming it one of the “most significant laws in our history.”

DeSantis warned that the feds will “crush a lot of people” with the massive IRS expansion.

“I think of all the things that have come out of Washington that have been outrageous, this has got to be pretty close to the top. And I think it was basically just a middle finger to the American public that this is what they think of you. All these problems we have to deal with, and they think the way is to do 87,000 IRS agents. There’s going to be more people in the IRS than in like a lot of these other agencies combined,” DeSantis said, remarking that the Biden administration and Democrats are not interested in putting that much effort into the southern border.

He warned that the feds want to “unleash” the fleet of new agents on the American taxpayers, calling it “so, so” wrong.

“Fortunately, you know, that’s one of the reasons we don’t have an income tax [in Florida] is because if you don’t have an income tax, you don’t empower revenue agents,” he said, warning that it is “going to be targeted at people that the government doesn’t like.”

Plenty of conservative voices have spoken out following Biden’s signing of the bill, warning of its dire implications. Sen. Rand Paul (R-KY) warned that the law will “exasperate inflation” and “raise taxes, raise gas prices, and supercharge the IRS against the middle-class,” while Sen. Marsha Blackburn (R-TN) noted that it proves that Democrats “care more about raising taxes on you to fund their radical agenda than keeping you safe and secure.”

Watchdog Accuses Silicon Valley Giants of Dodging $100 Billion in Taxes

AFP Photo/Alex Wong

LUCAS NOLAN

 

Six of the Silicon Valley Masters of the Universe have been accused of dodging $100 billion in taxes by a British tax watchdog.

CNBC reports that six major Silicon Valley tech firms have been accused of having a combined “tax gap” of $100 billion over the past ten years according to an analysis by a British tax organization. Fair Tax Mark, a British organization that certifies businesses for proper tax conduct, examined the global tax payments of Facebook, Apple, Amazon, Netflix, Google, and Microsoft from 2010 to 2019.

The research analyzed the company’s 10-K filings submitted to the U.S. government by the tech giants. Fair Tax Mark looked at tax provisions, which is the amount that companies set aside in their financial reports to pay taxes, and compared these with the amount of money that the companies actually paid to the government, called cash taxes. Researchers found that over the past ten years, the gap between the tax provision set out by the tech firms and the taxes they actually paid was approximately $100.2 billion.

The report also claimed that the profits were “shifted to tax havens, especially Bermuda, Ireland, Luxembourg and the Netherlands.” The researchers noted that most of the tax shortfall “almost certainly arose outside the United States,” with tax charges from countries outside the United States coming to 8.4 percent of the companies’ profits overseas.

Paul Monaghan, CEO of Fair Tax Mark, discussed the report with CNBC stating: “The amount of tax being paid by these businesses is $100 billion less than reported in their accounts.” The report noted that Amazon was the worst offender of the six tech firms. The report alleged that Amazon paid $3.4 billion in income taxes since 2010, noting that the cash tax paid by Amazon amounted to 12.7 percent of its profit for the decade despite the corporate tax rate being set at 35 percent for seven of the past ten years. President Donald Trump cut the corporate tax rate to 21 percent in 2017.

The report stated: “The company is growing its market domination across the globe on the back of revenues that are largely untaxed and can unfairly undercut local businesses that take a more responsible approach.” A spokesperson for Amazon told CNBC in a statement:

Amazon represents about 1% of global retail, with larger competitors everywhere we operate, and had a 24% effective tax rate on profits from 2010-2018. Amazon is primarily a retailer where profit margins are low, so comparisons to technology companies with operating profit margins of closer to 50% is not rational. Governments write the tax laws and Amazon is doing the very thing they encourage companies to do — paying all taxes due while also investing many billions in creating jobs and infrastructure. Coupled with low margins, this investment will naturally result in a lower cash tax rate.

Facebook had the second-biggest tax gap with the cash tax it paid representing 10.2 percent of the profit it made over the decade. A spokesperson for Facebook told CNBC:

In 2018 we paid $3.8 billion in corporation tax globally and our effective tax rate over the last five years is more than 20%. Under current rules we pay the vast majority of the tax we owe in the U.S. as that is where the bulk of our functions, assets and risks are located. Ultimately these are decisions for governments and we support the OECD process which is looking at new international tax rules for the digital economy.

Google ranked third with its taxes amounting to 15.8 percent of its profits with its foreign tax charge amounting to 7.1 percent. A Google spokesperson told CNBC that the report form Fair Tax Mark “ignores the reality of today’s complicated international tax system and distorts the facts documented in our regulatory filings.”

The company added: “Like other multinational companies, we pay the vast majority — more than 80% — of our corporate income tax in our home country. As we have said before, we strongly support the OECD’s work to end the current uncertainty and develop new tax principles.”

Netflix ranked fourth in the list handing over 15.8 percent of its profit while Apple ranked fifth with a tax rate of 17.1 percent. Apple told CNBC in a statement:

As the largest taxpayer in the world, we know the important role tax payments play in society. We pay all that we owe according to tax laws and local customs wherever we operate, and since 2008 Apple’s corporate taxes alone have totaled over $100 billion.

Microsoft paid the highest tax rate of 16.8 percent with a spokesperson telling CNBC: “Microsoft is fully compliant with all local laws and regulations in every country in which we operate. We serve customers in countries all over the world and our tax structure reflects that global footprint.”

Read more about the report at CNBC here.

Lucas Nolan is a reporter for Breitbart News covering issues of free speech and online censorship. Follow him on Twitter @LucasNolan or email him at lnolan@breitbart.com