Tags: Investors | Business People | Tax | Reform

Investors and Business Officials Should Expect More Tax Reform Doublespeak

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Monday, 04 Jan 2016 07:28 AM Current | Bio | Archive


George Orwell invented the words doublethink and newspeak in his classic book “1984” to explain how the government controls the public’s reality.

Doublespeak combines these two concepts to describe the situation where the Democrats and Republicans (the Inner Party in Orwell’s lingo) say one thing, but mean another. 

Usually, it’s an opposite meaning.

Doublespeak describes the situation where our politicians say and do contradictory things and then deliberately create new facts to justify their latest view.

Politicians understand that the average American will continue to be so overwhelmed by trying to survive that they will forget the old reality and accept the truth de jure.  

The professional political industry and their media sycophants easily pass this off a spin.

It’s not. It’s reality control.

Dishonest manipulation of the national issues is precisely what investors and business people should expect out of Washington, D.C., in 2016.

In the closing minutes of 2015, just in time for the New Year’s ball to drop in Times Square, Congress passed, and the president signed PATH — otherwise known as the “Protecting Americans From Tax Hikes Act of 2015.”

What PATH does is extend a laundry list of tax goodies to special interest campaign contributors and voting groups. PATH also pushes the United States into becoming a tax gulag by further stripping Americans of their God-given liberties and Constitutional rights. PATH does not protect Americans from tax hikes or protect taxpayers from even more governmental abuse.

Starting January 1, 2016, tax increases are hitting with a vengeance.

Medicare tax goes from 1.45% to 2.35%; income tax brackets go from 35% to 39%; top income payroll tax goes from 37.4% to 52.2%; tax on dividends goes from 15% to 39.6%; withholding tax on foreign investment goes from 10% to 15%; and estate tax bumps up to 55% with a transaction tax added on to boot.

These tax hikes for 2016 were built into the Affordable Care Act 2010. Since passing Obamacare, the Republicans have let them alone knowing they will also benefit from the tax revenue they will generate. 

The Republicans and Democrats in a bi-partisan effort (defined as the taxpayers get screwed by both parties) added a provision into PATH that allows the government to take a taxpayers passport if it just claims that tax is owed.  The United States is rapidly headed towards becoming a Soviet-style gulag.

The Speaker of the House, who oversaw the bi-partisan effort of passing PATH over the objections of Republican tax conservatives, says that he will mount another bi-partisan effort to address tax reform in this upcoming year. 

What’s more the Republicans say they will pass the repeal of Obamacare which then will make the tax hikes void.

The president will flat out veto that without blinking an eye.

Investors and business people should understand that any talk of tax reform by Congress in 2016 will be nothing more than classic doublespeak.  That reality that should be part of their thinking when they go into the voting booth in the upcoming elections. 

Denis Kleinfeld is known as a strategic tax and wealth protection lawyer, widely published author and creative teacher. To read more of his articles, CLICK HERE NOW.

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George Orwell invented the words doublethink and newspeak in his classic book "1984" to explain how the government controls the public's reality.
Investors, Business People, Tax, Reform
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2016-28-04
Monday, 04 Jan 2016 07:28 AM
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