In the United States, when a person works and earns money, he has to pay a little thing called income tax. When a person makes money through an investment such as the stock market or real estate, he has to pay capital gains tax.
What's the difference? Well income tax is based on how much your salary or wages are. You pay (supposedly) a percentage of that amount. Capital gains works in a similar way. It is a percentage of how much you profit on your investment - except that the percentage is lower than it is with income taxes. Typical system gimmick to favor the wealthy. Most of the working class cannot afford any investments except maybe a home. And we don't pay any capital gains tax unless we sell it and make a profit. However if we buy another home the same year, that capital gains tax disappears. But what about stocks and other such investments? Most working class people can't afford that. All we have is our income which is taxed at a higher rate than capital gains (profits). Gee, sounds real fair.
But even though it's less than income tax, there's a perfectly legal way to get out of paying capital gains altogether. It used to be a big secret until a financial analyst named David Cay Johnson spilled the beans. Here's how this perfectly legal scam works.
When you sell stock, you must pay your capital gains tax by April 15 just like income taxes. But you are allowed to defer your taxes for several years IF you have $5 million of stocks and/or bonds through something called an "Exchange Fund".
Different wealthy people contribute at least $1 million of their stock in a single company to a pool into which others in the same situation have contributed the same amount or more from other companies. When one wants to withdraw from the pool, the partnereship gives them not their original shares or cash but instead shares of a variety of stocks held by the pool. Think of it as going to a potluck dinner where you contribute one dish, but get the right to have a little of all the dishes the other potluckers also contributed. As a result, someone with too much money in one stock can quickly diversify into a more balanced portfolio so all their eggs are not in one basket anymore. But unlike other investors, who have to pay taxes on profits when they sell a stock, no taxes are owed on the profits of the shares contributed to the pool. If investors stay in the pool for seven years, the stocks they receive at withdrawl do not incur capital gains taxes. Those only come due every time stocks are sold. Unlike with real estate, when you sell one stock at a profit, then buy another, the capital gains tax does NOT disappear. However, these stocks were technically exchanged, not sold so no tax. But the investors have still increased their net worth.
Goldman Sachs is the largest investment firm that runs these stock pools that exchange funds and swap stocks. This should be no surprise to any National Socialist considering who runs this company.
To get in on this legal scam, investors must sign a non-disclosure statement promising never to divulge this to anyone except their financial advisers and attorneys. It is believed that Goldman Sachs helps over 1000 corporations legally avoid paying taxes to the IRS. During the G.W. Bush administration, U.S. Congressman Richard Neal pressed the Treasury Department about why they didn't shut down this little trick as it is keeping the IRS from collecting billions of dollars annually.
Mark Weinberger, Chief Of Tax Policy at the Treasury (typical) said that the Bush administration, "is not for or against swap funds, but we are against taxes on capital gains in general and so we will not take any action against the funds." In other words, they said they were against taxing the rich.
The Congressional Joint Committee on Taxation, without any supporting data told Congressman Neal that closing exchange funds would not raise any revenue because "the class of investors engaged in swap funds would simply find other ways of avoiding taxes."
They also told the congressman that in order to raise revenue, it was simply easier and cheaper to go after the class of citizens who had little or no means of fighting them - in other words, the Middle and Working Class.
That also includes not just White America, but ALL America - as long as they aren't rich enough to use all the legal tricks and scams that the government allows them to get away with. They deliberately allow those who can afford the most to get away with paying the least, and place the majority of the burden of supporting this country on those who can afford it the least.
Well, that's the Judeo-Capitalist way. And here's one more little thing to think about. The rich do not pay their fair share for the military either - that burden is on the Working and Middle Classes as well, yet when there is a war, not only do the rich get free military protection, but those who are paying for it are also the ones expected to serve in the military as well, plus all the war profits the rich can make. That's the Judeo-Capitalist way times two!
Comrades, the only way out of this sick, degenerate system is with National Socialism. The only way to achieve National Socialism is the ANP. $upport us as much as you can. If you don't, then your children and your children's children will remain slaves to those who rule us and pay nothing while we pay for everything - including the right to die for our oppressors.