12/18/22

Trapper’s Quote Of The Week

By: Trapper Pettit

Think about the term “Demand Destruction” and the fact that demand destruction is the Federal Reserve’s stated mandate to fight inflation. The same inflation they created to wipe out the debt they also created. Put in layman’s terms, it means “Wreck-It Ralph,” your everyday Americans will pay the price of our insane greedy policies… again.

12/13/22

Hurry and Reconsider you use of Venmo, PayPal or Other Payment Apps

By: Denise Simon | Founders Code

President Biden said that anyone making less than $400,000 per year would not get a dime more in taxes… now a lie. Apps of all sorts are already asking for your banking information. Note… the banking information is getting reported by payment apps and other online sites such as Etsy, Marketplace, and OfferUp. As you read further, understand what is not being revealed. The IRS is using private corporations to aid them in reporting personal information about you. Getting a 1099 could easily put you in a higher tax bracket just because you collected dues from team members, sold an old umbrella, or work on the side selling a potholder you knitted.

Source

FNC: Americans who made money online this year could be in for a potentially brutal shock when they file their taxes in 2023.

That’s because, beginning next year, taxpayers must report to the IRS transactions of at least $600 that are received through payment apps like Venmo, PayPal and Cash App.

In an explainer posted online last month, the IRS warned small business owners about the $600 threshold for receiving Form 1099-K for third-party payments exceeding $600.

Third-party payment processors will now be required to report a user’s business transactions to the IRS if they exceed $600 for the year. The payment apps were previously required to send users Form 1099-K if their gross income exceeded $20,000 or they had 200 separate transactions within a calendar year.

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10/28/22

Civil Society Collapses With No Diesel Fuel

By: Denise Simon | Founders Code

The Biden Green agenda will soon destroy the nation, there is no dispute. Having a war on fossil fuel is one thing but being so derelict when it comes to diesel is destructive beyond description. It is also evil and deadly to citizens, businesses, and national security.

In 2021, the Biden White House published a trucking fact sheet endorsing the trucking industry. But it omits the real issues facing the industry and that includes regulations and the ridiculously high cost of diesel.

There was to be some kind of a listening session. In part: DOL and DOT will kick off listening sessions with drivers, industry and labor leaders, and advocates to hear their perspectives, profile promising practices, and source scalable solutions to retention and job quality issues for truckers. The first events in this series are happening today in South Carolina with Secretary Buttigieg, Deputy Administrator Joshi, and representatives from DOL and at the White House co-chaired by Secretary Buttigieg, Secretary Walsh, and National Economic Council Director Deese.

Now, facing November with the midterm elections and the coming holidays… the White House is flat-footed on the diesel crisis.

The Biden administration says it is keeping a close watch on diesel inventories and working to boost supplies following news that reserves have been depleted and could run out in less than a month if not replenished, sparking fears of shortages and rising prices.

The Energy Information Administration (EIA) reported this week that, as of Oct. 14, the U.S. had only 25 days of reserve diesel supply, a low not seen since 2008. National Economic Council Director Brian Deese acknowledged to Bloomberg that the level is “unacceptably low,” and “all options are on the table” to address the situation.

The EIA also said that distillate fuel includes heating oil inventories and is about 20% below the five-year average for this time of year. But areas in the Northeast are already rationing heating oil as temperatures drop, driving concerns that energy costs will surge further. source

Diesel fuel is used for many tasks

Diesel engines in trucks, trains, boats, and barges help transport nearly all products people consume. Diesel fuel is commonly used in public buses and school buses.

Diesel fuel powers most of the farm and construction equipment in the United States. The construction industry also depends on the power diesel fuel provides. Diesel engines can do demanding construction work, such as lifting steel beams, digging foundations and trenches, drilling wells, paving roads, and moving soil safely and efficiently.

The U.S. military uses diesel fuel in tanks and trucks because diesel fuel is less flammable and less explosive than other fuels. Diesel engines are also less likely to stall than gasoline-fueled engines.

Diesel fuel is also used in diesel engine generators to generate electricity. Many industrial facilities, large buildings, institutional facilities, hospitals, and electric utilities have diesel generators for backup and emergency power supply. Most remote villages in Alaska use diesel generators as the primary source of electricity. source

The US economy cannot run and sustain itself without the essential work of truck drivers. Their deliveries affect every industry we depend on like food, construction, medicine, fuel, and retail. Apart from day-to-day needs, truck drivers ensure first responders and healthcare workers have the tools they need to save lives. more here

10/20/22

Biden’s Energy Depression Is Nigh

Doug Ross @ Journal

What will skyrocketing energy prices mean for U.S. consumers this winter? Seniors, the poor, those living paycheck to paycheck will suffer most. But all will suffer.

The effect of these increases — the lack of trickle-down economics — seems pretty obvious. Unless someone powerful gets this administration to sweep the deck of climate radicals, people will needlessly die. All will suffer.

On his first day in office, President Biden shut down the Keystone XL pipeline, closed Alaska’s reserves (ANWR), canceled offshore leases, and imposed massive new regulatory burdens on firms that distribute clean natural gas and petroleum products that contribute to every aspect of American life.

When gas prices skyrocketed earlier this year, the administration began draining the Strategic Petroleum Reserve to historically (and dangerously) low levels. This has temporarily kept prices in check, but only because of the midterm elections. After the midterms, if the radicalized EPA isn’t reined in, we should prepare for $8 gas, minimum. If Democrats retain power, we are in for a succession of long, dark winters.

If left unchecked, this “progressive” administration will touch off — needlessly — a second Great Depression.

Hat tip: BadBlue Uncensored News.

10/4/22

Power to the People

By: Cliff Kincaid

As we approach Halloween, let’s think about unleashing a hungry Vampire on the beast known as Big Government.

On Monday, the big news was that the tax cuts being proposed by the new British Prime Minister Liz Truss were being somewhat scaled back because they might “favor the rich.” This is a Marxist line of attack.

Yet, Stephen K. Bannon was on his “Real America’s Voice” show trashing Truss for proposing tax cuts in the first place. He called her proposal a “ridiculous unfunded massive tax cut.” His guest, Steve Cortes, agreed.

They were echoing the liberal news outlets and the IMF about the “unfunded” nature of those tax cuts.

Look at the headlines:

  • IMF gives damning verdict on Britain’s tax cuts — CNBC.
  • Fiscal fisticuffs: the week the IMF attacked Britain’s tax cuts — Financial Times.
  • IMF openly criticizes UK government tax plans — BBC News.
  • Truss U-turned on tax cuts for the super-rich – now she can axe the rest of her disastrous budget – London Guardian.
  • The UK scraps a proposed tax cut for the wealthy that sparked market turmoil – NPR.

“In a stunning reversal,” declared Fox Business, “Britain’s Conservative government dropped a key part of the tax cuts package that sparked outrage, market turmoil and sent the pound plunging.”

The left-wing Media Matters declared, “British currency has been plummeting due to investor fears that the Truss tax cuts, and the resulting borrowing needed to recover the lost revenue, will worsen inflation in the U.K., which already stands at 10%.

This is a concrete example of the power of the globalists that Bannon and others claim to oppose.

Since when it is supposed to be “unfunded” to return money to the people? It’s the people’s money to begin with. How can money in the hands of the people be “lost” to the government?

The Marxist assumptions in such talk are that the government has a claim to your living standards and that your money belongs to them. That’s the Marxist principle of confiscating and eventually abolishing private property to create an all-powerful state.

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09/24/22

The United States Submission to China

By: Denise Simon | Founders Code

Scott Pelly of 60 Minutes aired an interview with President Biden and National Review noted this in part:

PELLEY: It’s the highest inflation rate, Mr. President, in 40 years.

BIDEN: I got that. But guess what we are. We’re in a position where for the last several months it hasn’t spiked. It has just barely, it’s been basically even, and in the meantime, we’ve created all these jobs, and prices have gone up, but they’ve been down for energy. The fact is that we’ve created 10 million new jobs, we’re in since we came to office, we’re in a situation where we, the unemployment rate is up at 3.7 percent, one of the lowest in history, we’re in a situation where manufacturing is coming back to the United States in a big way, and look down the road, we have massive investments being made in computer chips and employment, so I, look, this is a process, this is a process.

Inflation is the top political concern for voters right now, and according to a recent poll, 59 percent of voters who name inflation as their top concern plan to vote Republican in November. “This is a process” is not likely to persuade them out of that choice.

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Is it a process to allow China to have access to limitless investment in the United States in the form of real estate, technology, education, and social media to list a few? Seems so –>

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What's Pushing China's Tech Sector So Far Ahead? - Knowledge at Wharton

citation

Wharton summarizes it much the same way. In part:

Knowledge at Wharton: How has the tech sector in China been able to develop so quickly?

Fannin: Some of it has to do with venture capital investment. And some of that venture capital investment has come from Sand Hill Road [Silicon Valley], funded by our pension funds, our universities, our endowments, our family offices. But I also think a lot of it has to do with China’s own entrepreneurial culture. It’s innovating very fast. It’s moving very swiftly. They are working nonstop. China’s entrepreneurs and the tech sector are just very ambitious. It’s unstoppable.

Knowledge at Wharton: “Social” seems to be a key word when talking about the Chinese economy. Are e-commerce and social media playing big roles in China’s becoming such an influential global player?

Fannin: Social commerce is all about online shopping and sharing and prizes and games. It’s a business model that we really don’t have in the U.S. Social commerce has come on very strong. There is a [group-buying platform] called Pinduoduo, which went public in New York last year and has gone on to become one of these tech giants in just three years’ time. They are already China’s second-largest e-commerce player, and they’ve developed this whole new business model around social commerce.

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