$120 Billion Owed to US Treasury in Excise Taxes?

by Anonymous2

Editor’s Note:

• The reluctance of Federal, State, County and local agencies to collect taxes, fees, fines and penalties for transactions, failure to file and fraud is testament to the power of politics in our current society. I have it corroborated by dozens of experts from government agencies and tax experts who do not wish to be quoted because they fear reprisals. The $120 billion mentioned below is a tiny piece of the tax pie that would save virtually every budget from the disastrous cuts in social services and amenities that are considered the bedrock of our safety net and the defense and welfare of our citizens.

• In Arizona alone, the estimate is that there COULD be receivables of over $3 billion — more than enough to completely eliminate the state deficit. In larger states the numbers are higher. At the Federal level the estimates range from $1.5 to $15 trillion in receivables on capital gains and income taxes. The big questions are (1) will ever know the true numbers and (2) whether we will ever do anything about it. These are not new taxes. These are taxes and fees, interest and penalties that are already due under existing law.
• As we are already seeing on the World stage our proposals are rejected as soon as we put them out there for comment. Nobody trusts this country anymore, when push comes to shove. The crisis of confidence in world commerce is now at its highest point in our history and looks like it is getting worse by the day. I don’t see any way out of this except if we admit what everyone already knows and do something about it. I strongly suspect that the “pain” that our government officials are threatening us with to avoid telling the truth is just “control of the narrative.”
• Even if there were SOME truth to it, how does that compare to the pain of losing our place in the world line-up? What will happen to us if we can no longer print money, which is the world’s reserve currency, and instead we have to go begging to other countries for loans. What conditions will they impose on us? Broaden your reading and you’ll see. It isn’t a pretty picture and it’s happening right now — all for the benefit and protection of a few banks that are so large and cross so many borders, that they appear to be beyond regulation. If we don’t do something soon that appearance will become our permanent reality.

I am looking for information regarding TEFRA and the fact that a note indorsed in blank to a trust is unlawful under some state statutes (NY for one) as well as under federal law.

Additionally, under TEFRA, any note indorsed in blank for which a bond or certificate is issued is subject to an excise tax of 1% of the value of the note for the term of the note. In other words, a $200k 30-year note, would b subject to 1% excise tax = $2,000 x 30 years = $60,000 paid to the IRS.

If my research is correct, the IRS has been cheated out of billions of dollars by these so-called “trusts.”

Tags: taxes
Posted in bubble, Corruption, Eviction, securities fraud |