Income Taxes Explained

Income Taxes Explained

[sarahhess]

Should I do a video on how to build a business and legally avoid all USA sales and income taxes.

[DNOJ]

Damn... No wonder the rich don't wanna pay... Wtf

[sonyamonroe]

Hearing about all this damn taxes makes me depressed and I'm just 16

[Chuichupachichi]

"Graduated income tax" is the government saying "that if you're going to do whatever is necessary to achieve financial independence, then we're going to make a great effort to prevent that from happening and you're going to work until the day you die"

They've also adjusted the age of retirement to being a day definitely closer to the day you die

[jond]

"At the end of the year, you're gonna tell us how much you owe us. And whether or not the money you've been paying us all year out of your paychecks is either too much or not enough."

"You mean you don't already know?"

"Oh no, we know exactly what that amount is."

"So then why don't you just automatically send me a bill or a refund?"

"Doesn't work like that."

"What happens if my number is different from your number?"

"You go to prison, of course!"

[RyanDiono]

Dammm, This Video Really Helped Me, Thanks A Lot! I'm Surprised You Didn't Make Millions Of Subscribers Yet. You A Really Great Teacher!!! SERIOUSLY <3

[daveroy]

This is an explanation based in ignorance and fails to inform but rather, it perpetuates a false understanding of what income is and what is actually taxable. Most people have no income at all but pay out money yearly claiming they do. People are under the false impression that what you receive in compensation for your time at work is "income" when it is not in most cases. This is an intentional and evil deception that is easily explainable. This is accounting, an accounting of your trades listed on a ledger. The left side of a ledger is the positive and the right side is the negative. Terms or labels used to refer to one side or the other of a ledger are different so as to mislead but refer to the exact same thing. Corporations and government use the terms "revenue" and "expenses" but for individuals they use the term "income" and omit labeling the right side column to hide the fact that there is an expense or cost to you at all, thus, creating the illusion that all entries under the income column are *income* meaning gain or *profit* and are taxable income. Your time has value and you expend this time working to be compensated for that agreed upon value of expended time. $10 an hour ....after ten hours of work, you have an expectation of $100 compensation owed to you, once received you will have broken even, having neither profited (income) nor suffered a loss. Labeling the positive side column *income* conflates the term with the word *income* which means *profit* . Income or profit is the amount over and above your total expenses, this is the taxable part in *taxable income* . If your only income is direct compensation for hours worked then you have no income, this is the unmentioned non taxable income. The income tax is a tax applied to *taxable income*, and if there is a tax-able income there must be a non-tax-able income. which is the income equal to your total expenses which is not accounted for on their tax form, there is no accounting of your time spent as a loss or expense to you even though it is given a value (wage or hourly rate) and easily accountable.

In the US it is openly stated that the Federal income tax is a voluntary tax, and it is. This throws people for a loop and they immediately ask "how is it voluntary when you are forced to pay it under penalty of law?" They won't answer that....but I will. The 13th and all following Amendments are policies of the US Corporation which was installed in place of the Government created by the founding fathers starting from the beginning of the civil war and completed by the Organic Act of 1871. Before the Fourteenth Amendment, a native born citizen was a citizen of their state and through that states membership in the union, a citizen of all states in the union. State citizen first, then all states (United States) second. The 14th Amendment declared that all were now US citizens first then state citizens second. This was the bridge the pied piper used to lead the people from one jurisdiction with protected rights to another jurisdiction under the Corporation, and a loss of those rights. Before, the federal government was responsible for its own debt and limited by its revenue streams. The 14th Amendment made US citizens responsible for the Federal debt so if the people all accept US citizenship then they do so *voluntarily* and have to pay the tax on income (still only the portion that is excess of total expenses), this new and absolutely massive revenue stream financed those who own the Corporation and was never something the founders would have allowed had they only been able to foresee its creation.

P.S. You do not have to be a US Citizen to live in one of the states in the union, US citizenship is an *offer* that you do not have to accept. Slaves are ruled through their ignorance and intimidation. The 13th Amendment makes this voluntary servitude legal by abolishing *only* involuntary servitude. This is all done through lawyers and their legalese, which is why the founders tried to make all BAR attorneys (ESQ) non citizens, incapable of holding office or participate in law making, through the original 13th Amendment.

[skyone]

Good information but the background music distracts and is too much unnecessary noise

[AlejandroCubaRuiz]

Thank you so much for your awesome explanation! It has been very enlighten.

[susannahietanen]

Hi, I really liked this video. Would it be ok to use it in my lesson? I teach math in high school partly in English and this would fit to our curriculum nicely :)

[williampennjr.]

this is how income should be tax (if at all)  1) Salary/wages;   0 to $50, 000 - 0%,   50, 001 to $200, 000-  10%,   $200, 001 to $1000, 000 - 15%, 1000, 0001 to 1 billion- 25% , + 1% for every additional billion.  2) Deductions: Standard- $50, 000 for individuals and dependents,   100, 000 for sole providers,  interested income $10, 000, capital gains and dividends $100, 000 @ flat rate of 10%  3) Profit, royalties;  15%,   Inheritance after legal expense, funeral costs and depreciation; 50%.

[Ekim-icco]

US Congress has never imposed a tax on Americans who work domestically making domestic income. Income tax is a indirect tax (excise ) and that tax is only imposed on foreigners.

[radroofer]

actually the Constitution says you can only be taxed for a gain. a gain is like if you win the lottery and today I tweeted the President about it. He said he wanted to restore the constitution so let's see what happens to the individual tax

[Chuichupachichi]

The reason why the Federal income tax didn't exist in America for more than the first 100 years, is because what did, and still does, exist is the Supreme Law of the Land...
"the states shall retain their sovereignty"

If someone from without your state is persistently taking from the property (money) of the people from within your state, it's because you have foreign rulers and the people of your state are paying tribute to them.

This is why if you try to prevent your ruthless, foreign rulers from taking your property, they will put you into prison and this works as a powerful coercive threat for all others that might entertain the thought of not enriching your foreign rulers

[Chuichupachichi]

This video specifically focuses on "income taxes" and it begins by quoting Benjamin Franklin..."in this world nothing is certain except death and taxes"

To specifically focus on income taxes means that there exist other taxes also. However, notice that Franklin's quote doesn't specifically focus on income tax

The reason why is because from the time when America was established in 1789, until 1913, death remained certain for all. However, another certainty is the fact that during that period the federal income tax did not exist

[jamieacosta]

Is the Adjusted gross income on the 1040 what you make in a year?

[avanikulkarni]

When they say that they are getting this much money, are they talking about getting that salary monthly???

[_BenJaminCroft_]

What empirical evidence is there to prove, beyond any reasonable doubt, that the constitution and IRS tax laws apply to us and that they have any jurisdiction, therefore making us "tax payers" with "taxable income" in the first place???

[knobgoblin]

I'm not saying income taxes areunconstitutional, seeing as how the old rag paper has the ammendment in it ready, I'm just gonna say it's fucking useless if we the working class are forced to pay for the infrastructure that DOESN'T get maintained, or "healthcare" we are unqualified for, and especially in the case of our numerous public servants who (for the most part, politicians)spend a majority of their terms... Misrepresenting their constituents and pocketing money from lobbyists, I'd be more ok with taxes if we had the power to put them where WE need them to go, like funding our government, or paying for universal healthcare, or even just simply cutting salaries in half or removing them from officials(it's a voluntary position anyway, if you depend on politics to make money well never live in a peaceful country)

[williampennjr.]

The rich benefit the most from the complicated tax system because they can afford accountants and lawyers. The rich also benefit the most from the state tax deduction because they are the most likely to itemize.  They benefit from the mortgage deduction because they can afford more expensive loans, and their living standard is cheaper because they can do for free things on their property that most renters have to pay to have done because their landlord doesn't allow it or just charges for it, like work on their car and parking.  This is why taxes should not be based on total income but based on disposable income.  The rich have disposable income of 50% to 99.99% of their income wile the poor have between 0 and 10%.  This is why a flat rate tax is not fair unless it includes a standard deduction to cover basic necessities ( housing, food, clothes, commuting, ) and accounting.