Lake Erie Conservative

thoughtful discussion(s) about issue(s)

Archive for the ‘tax opinion’ Category

… It is Their Money , Dumb – dumbs [#tax inversion]…

Posted by paulfromwloh on Thursday,August 7th,2014

.. huh ?!..

.. it is relatively simple . Company A [US] buys Company B [Ireland] . Company A then switches its ” Tax Domicile ” to Ireland . It then can hold a great deal of cash in another place . Simple ..

.. these days , it is . It also has the DemoCraps having a conniption fit of the world class order . Boy , oh boy , is it fun to watch …

.. [h/t — TAS.org]..
.. [link] to the news post ..

.. it is remarkably similar to the relocation of a firm in the U.S. from one state to another . There are financial advantages , to be sure , but also legal ones …

.. you have a supply side idea . Cut the corporate tax rate down to the bone , waaaaaay down from where it is now . Say from 35% [now] , down to 10% to 15% , or better yet , 0 . Yes , the big Zippo ! … Watch what happens when you do …

.. for the Dems , I have a message … corporation or person , it is their money , not yours , so tough cookies …

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Posted in personal opinion, stupidity (financial), stupidity (political), stupidity (taxation), tax opinion | Tagged: , , , | Leave a Comment »

… Nice Try , Guys [#AGs playing dirty]…

Posted by paulfromwloh on Wednesday,July 23rd,2014

.. state AGs , especially the DemoCrap ones , have a habit of trying to play dirty . Anyone who is remotely familiar with the grand Tobacco Settlement [read : extortion] of the very late 1990s can understand that …

.. now , we are seeing the flipside of the efforts at disclosure of campaign finance and a person ‘ s contributions to a non – profit . People , including me , are rethinking their positions …

.. it is especially the case after the episode of Brendan Eich . Eich was for a short time toe CEO of the website supplier Mozilla . Eich , who is I think something of a libertarian , was harassed and hounded out of his CEOs job courtesy of a campaign contribution that he had made to the traditional marriage initiative [Proposition 8] in California …

.. [h/t — WallStreetJournal/Opinion]..
.. [link] to the opinion …

.. Mozilla evidently had a fair number of gay and lesbian employees . They did not want someone as their boss who had contributed to that initiative campaign back in 2008 . So , Eich resigned …

.. the results of the Eich episode are especially acute where it comes to non – profits . Political contributions are designed to be disclosed . Contributions to non – profit groups are designed , both by law , and by court precedent , to be confidential . The efforts of the AGs in Californai [kamala Harris] and New York state [Eric Sneiderman] are designed to undermine this effort …

.. what part of federal supremacy and court precedent , in addition to tax law , do those two idiots not understand ?!?! keep your damn hands off of my non – for – profit contributions . They are the business of mine and the groups , and are for no one else , especially you two nosy bodies ….

Posted in legal opinion, legal question, personal opinion, tax opinion | Tagged: , , , , , , , | Leave a Comment »

… What is the I.R.S. Thinking [ObamaCrapCare ruling]…

Posted by paulfromwloh on Monday,June 2nd,2014

.. well , it seems that the ObamaCraps pulled another stunt over a three – day holiday weekend . And , you had better believe it , it is a doozy …

.. [h/t — Breitbart.com(BigGovernment)]..
.. [link] to the blog post news …

.. employers have the choice . Either pay the ObamaCrapCare penalty [$2,000 per worker] , or , provide ObamaCrapCare – mandate health insurance plans to every full time employee . People can do the math . So can the I.R.S. . So , the I.R.S. has acted , with one of those stunts of ” controlling legal authority ” that the ObamaCraps think that they have . Well , they are very , very wrong .

.. well , the I.R.S. seems to think that it has the power to stop employers from ” dumping ” employees into the ObamaCrapCare exchanges . They are prohibiting the practice , because they want companies to continue to provide overpriced , unnecessary , and unneeded health insurance coverage . In addition , they are imposing a $100 per day tax penalty if a company does do so . By what controlling legal authority do those idiots thaink that they can do this …

.. Government Agencies have what is known as ” Chevron deference ” in administering a law . Basically , it allows them a large amount of latitude in implementing the law . The agency has latitude , but not absolute authority . They can use explicit or implicit authority to implement a law . But , they must still follow the explicit statutory intent of Congress .

.. I do not think that the Infernal Revenue Service has this authority . They may think that they do , and the ObamaCraps may be ordering them to do this . However , they have to have legal authority to do it . And , that is something that they do not have . They do not have the explicit authority , nor do they have the implicit authority to do it . Also , Chevron deference can allow it if the meaning (explicit or implicit) of the law allows . That is something that they do not have , either . So . no soap …

.. A company will challenge it , I can guarantee you that . Especially with the difference between the penalty and the cost of insurance . They can do the math  …

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… Uh – Oh ? Woodward to the Rescue ?!?! …

Posted by paulfromwloh on Monday,April 21st,2014

.. it makes you wonder …

.. for those who do not realize , Bob Woodward is old Navy . He was an intelligence officer in the U.S. Navy for a fair number of years before he went to work at the Washington ComPost …

.. [h/t — HotAir]…
.. [link] to the video segment …

.. if Woodward gets interested in this , and gets a commitment from the higher ups at the ComPost [he is one of them] …. his reputation alone will scare the [bleep] out of people if and / or when he starts digging …. then once stories start appearing in the paper & OL , then you really get the LameStream media ‘ s attention …

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… Earth to Megyn Kelly [#Tax Returns]…

Posted by paulfromwloh on Tuesday,April 15th,2014

.. and to Cleta Mitchell …

.. re : True the Vote ‘ s tax returns …

.. their tax returns are not publically available information . Neither is their application for their 501c3 or c4 tax status . That information goes into the taxpayer ‘ s tax file as a part of the process . Then , eventually , the Infernal Revenue Service can make a judgement on the application for the requested tax status …

.. that information in that tax file is confidential . it is most definitely not for unofficial purposes , such as political abuses by the Infernal Service itself . Also , it is not available to other parties , such as a leak of the National Organization for Marriage ‘ s tax information to a gay enemy group a number of years ago . It most definitely is not something that is available for release to Congress , to Congressional staff , or any other arm of Congress or any other Executive Branch agencies …

.. playing around and playing cutsie – pie with those files is a F – E – L – O – N – Y . Which means , with federal sentencing guidelines , you do not pass go , you do not collect $ 2 million , you go directly to the Graybar Hotel for a stretch of time [good question on how long] …

Posted in legal info, legal opinion, personal opinion, tax opinion | Tagged: , , , , , , , , , | Leave a Comment »

… Matt Drudge is Right [#LibertyTax] …

Posted by paulfromwloh on Monday,March 24th,2014

.. and more …

.. anyone who pays estimated taxes will be in the same situation .

.. [h/t — Breitbart.com]..
.. [link] to the blog post ..

.. the wealthy , for example , have most of their income from capital gains and from interest and dividends . Those items are required to be estimated and paid for on a quarterly basis . They are in a similar boat , and in a more familiar situation than small businesses ..

.. small businesses have to deal with this for themselves , as well as their employees , if they have any . If they do not , then they still have to deal with this item themselves on an estimated basis …

.. those dummies on the ultra – left show their ignorance of business , especially small business , once again . Those dummies do not know what it means to deal with government rules and regs , as well as make a payroll , and maintain professional qualifications . So wise up , doofuses !!…

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… Take a Scalpel to the Tax Code …

Posted by paulfromwloh on Wednesday,July 10th,2013

..and to the Infernal Revenue Service .

.. Yea , I call it the Infernal Revenue Service . What do you expect for a C.P.A. , who has practiced before those numb-nuts .

.. There is a use for them . I admire the advocates of the FAIR tax , but in terms of public policy and planning , I am not as wild in favour of it as you might think . I am much more in favour of a single – rate , or flat – rate , income tax .

.. With that , I also think that we should take a scalpel to the I.R.S. , not just the tax code . Having the I.R.S. manage ObamaCrapCare ? People have to be totally crazy to think that , much less actually do it . And the DemoCraps in Congress in 2010 actually did it . Amazingly enough . And , they did it without any Republican votes . Not one .

.. The recent scandal of the targeting of conservative and Tea Party and religious organizations just drives home the point . These people were just trying to organize themselves , and avail themselves of the opportunities that are available under the law . Yet , they were singled out for their views and their beliefs . Their rights were violated . Most likely , higher – ups at the I.R.S. were , most definitely involved in it . That much is certain .

.. As of now , the ObamaCrap White House has not been found to be complicit in this affair . Not as of yet . Yet , I believe that , directly or indirectly , the I.R.S. took its marching orders from the ObamaCraps . Considering how heavily DemoCraptic the I.R.S. workforce is , in terms of their campaign contributions , and their votes , that is no surprise . These people are supposed to be “non-partisan.” Yet , these numb-nuts act in such a partisan manner .

.. let us go to the “Chop Shop , ” and chop away !!

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… Baghdad Jim is an Ass …

Posted by paulfromwloh on Tuesday,June 4th,2013

Jim McDermott

Representative James McDermott (D-Wa)

… James McDermott is a member of Congress . He became infamous for his prewar trip to Iraq over a decade ago . Ergo , the tag line ” Baghdad Jim ” . Also , he is the only Dem in either chamber of Congress who is a doctor , albeit a “shrink.” Yeech !

… His conduct is abmoninable . Why the citizens of Washington State keep electing this creep back to Congress is beyond me . I saw some of the testimony this afternoon in front of the House Ways & Means (tax revenue / tax code writing) committee . What was done to them was waaaay beyond the pale . That was what the I.R.S. did to them . What the minority Dems did was worse .

.. Those social – welfare organizations are there for a reason . They are given a wide berth , and a great deal of latitude in what they stand for , and what they want to accomplish . Sometimes , these groups get up to the borderline of blatant electioneering , which is a no – no . However , where things are debatable , one should find in favour of the 1st Amendment , and free speech . Also , in favour of the Constitution and the 1st Amendment , where it comes to free organization and the redress of grievances .

.. These groups can be political . Politics is the nature of our system .  It is the lifeblood of our democracy . We should be encouraging it , not discouraging it . We should be enabling groups to form , and gain tax – exempt status . No matter what their viewpoint . And , Jimmy Boy , not harassing them because they came forward to testify about what the Infernal Service did to them .

.. Also , dumb – dumb , get better preparation before their hearing . They are seeking to keep their own money . They are also pooling it together , as a group , in order to work together for common goals and interests . As long as they are not blatantly electioneering , O.K. . They are not receiving a tax benefit . They are also receiving their privacy . From US Supreme Court precedent , contributor lists to these groups are private . The Government may not have them .

.. There is a more modern reason . In the Internet Age , it is a great deal easier for folks to search for who contributes to what cause and to what candidate . It has opened up , unfortunately , a large can of worms . Interest groups on different sides of issues are retaliating against contributors on the other side(s) of issue(s) . They are intimidating them , trying to scare them off , now , and in the future . Wrong move , and wrong idea .

[-] 501 c(4) status — this is the status that most groups were seeking . It allows them to organize as a non – profit . No taxation , but no tax deduction for contributions . Also , contributor lists are protected . more freedom of action for what one can do …

[-] 501 c(3) status — also being sought . less freedom of action . contributions are tax deductible .

[-] 501 c(5) status — principally for labour unions .

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