Stupidity Watch 1

No Tax On Overtime Was A 90 Billion Dollar Reverse Wealth Transfer By Robert Korczynski ​In 1913 the United States established the Federal Reserve and passed the Revenue Act to introduce Federal Income Taxes. The Federal Reserve was created as a permanent central bank, but the income tax was sold as a temporary "soak the rich" measure that would only target the top 1% of earners. The Revenue Act of 1913 originally provided $3,000 exemptions for single filers and $4,000 for married couples. Adjusted for inflation, that equates to at least $90,000 to $120,000 in tax-free income, so in reality 97% of all Americans paid zero federal income tax at first. But when the government needed to fund World War I, it passed the War Revenue Act of 1917 which slashed exemptions for single filers to $1,000 and married couples to $2,000, dragging millions of working-class Americans into a permanent federal tax net that was never dismantled after the war, and over the years the federal governme...

No one took Trump seriously when he talked about tariffs or said that he would like to get rid of the IRS and federal taxes in the United States. Trump was serious, as he always is, people make the mistake of thinking that Trump is a politician and so he lies. Trump never lies about anything. He's a businessman and author of The Art Of The Deal, so he knows how to negotiate. In the lead up to the 2024 election the entire Democrat controlled media mainstream media pushed the narrative that Trump's tariffs that he suggested at 25% blanket tariffs across the board would be a tax on the average American family of $3,800, Democrats from Kamala Harris to Alissa Slotkin repeated this lie. The trouble with the Democrats' narrative that using tariffs would result in a tax on American families is that Trump used tariffs the first time he was president and our gas prices stayed low, the price of food stayed low, nothing really went up. We didn't have outrageous inflation because o...