Peter Schiff Argues We Will Have A Depression Worse Than The Last & States His Case

[GermanTrader]

Quote from makloda:

To understand why Schiff is such a media-addicted loudmouth it's instructive to see what family he's from

Schiff learned the power of a rallying cry from his father, long-running tax protester Irwin A. Schiff. Press mentions of the elder Schiff, who argues that the Internal Revenue Service has no right to force people to reveal their incomes or collect taxes, would fill a very fat scrapbook. But in the end, Schiff Sr. got a little too much attention for his own good. He is being held in a federal prison in Otisville, N.Y. for tax evasion.

Not sure what you mean by his family, but he is correct about the IRS. Fact is there is no federal law or statute requiring employees of any company to pay income tax or file a 1040, or powers given to the IRS to do anything to folks who opt out of the slavery system. The other fact is, the case law (made by judges, not lawmakers) make a failure to do both punishable by fine, forefeiture and improsonment, as demonstrated. If one believes that legal equals doing the right thing, you will believe anything...

 

[Ivanovich]

Quote from GermanTrader:

Not sure what you mean by his family, but he is correct about the IRS. Fact is there is no federal law or statute requiring employees of any company to pay income tax or file a 1040, or powers given to the IRS to do anything to folks who opt out of the slavery system. The other fact is, the case law (made by judges, not lawmakers) make a failure to do both punishable by fine, forefeiture and improsonment, as demonstrated. If one believes that legal equals doing the right thing, you will believe anything...

Great, so you're not paying taxes this year? I'd like to know how that works out for you. Can you keep me posted?

 

[RedDuke]

Quote from GermanTrader:

Not sure what you mean by his family, but he is correct about the IRS. Fact is there is no federal law or statute requiring employees of any company to pay income tax or file a 1040, or powers given to the IRS to do anything to folks who opt out of the slavery system. The other fact is, the case law (made by judges, not lawmakers) make a failure to do both punishable by fine, forefeiture and improsonment, as demonstrated. If one believes that legal equals doing the right thing, you will believe anything...

How about 16th amendment, which made personal incomes taxable?

Yes, in the past, there was no personal income tax, but this is way back in history (soon it will be 100 years old).

 

[Now is Now]

I'm quite happy to pay my taxes so the cheats don't come robbing me and hurting my family.

 

[Fractals 'R Us]

Quote from Now is Now:

I'm quite happy to pay my taxes so the cheats don't come robbing me and hurting my family.

Same here. I find it strange that the ACLU gets all up in arms about the craziest of privacy concerns but never says a word about us having to reveal stuff to the IRS.

 

[murray t turtle]

Quote from AlpineTrout:

I'm starting to notice two things in my area (north metro Atlanta) that I have never seen before. There are a hell of alot of vacant shops in the strip malls these days. Every time I drive by one of these, it seems another small business has either folded or gotten kicked out for not paying the rent.

But even more disturbing, is the amount of blank billboard signs I'm seeing on major roads. Only months ago, they almost all had ads on them.

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Re; Best of times, worst of times


Wonder if Atlanta is still having a drought like much of south & west???????????????????????????????????? Drought turned into dust bowl in 1930's

In some respects, it probably will not be as bad;
FDIC, food stamps, unemployment insurance, more bear market data than 1930's

In other respects , high probability some get much worse;
fuel & food systems are much, much more fragile/concentrated than 1930's.Sure demand destruction for oil & gas is fine, but most do not live on food farms like the 1930's.

And ABC, CBS, CNN NBC have decieved many into thinking its the Federal gov's job to ''rescue '' victims/everybody. And then get upset when we find out gov is not God.

 

[Angrycat]

Quote from RedDuke:

How about 16th amendment, which made personal incomes taxable?

Yes, in the past, there was no personal income tax, but this is way back in history (soon it will be 100 years old).

Unfortunately, opponents of the amendment, who wanted to at least put a limit on the amount the government can tax, lost.

There is nothing to stop government from taxing 100% of income. I'd like to believe common sense will prevent it, but we're talking about government here.

 

[Dr. Zhivodka]

That really is amazing. Laffer comes off as the god damn fool that he is. Everything solves everything. I'm a superstar.

Quote from MarginCalled:

Amazing. I couldn't believe the words out of Laffer's mouth there.

 

[dhyde]

Art Laffer is a freaking idiot. Thank God someone was able to pull the tape so the whole world can finally see why. Now if you could just find something similar from his buddy Kudlow, I could grab a a coke and a smile, sit down and watch my comedy for the evening... well actually, shit, they gave Kudlow a show! All you have to do to witness the debacle he is is to turn on the tv every night..a remarkable site indeed.

 

[BadCo]

Quote from dhyde:

Art Laffer is a freaking idiot. Thank God someone was able to pull the tape so the whole world can finally see why. Now if you could just find something similar from his buddy Kudlow, I could grab a a coke and a smile, sit down and watch my comedy for the evening... well actually, shit, they gave Kudlow a show! All you have to do to witness the debacle he is is to turn on the tv every night..a remarkable site indeed.

I remember Kudlow, in his endless Bush ass kissing, always saying that the economy was "The Greatest Story Never Told."