How Much Tax Do You Need to Pay on Gambling Winnings in

The International Monetary Fund is an international money system administered by the United Nations. Article IX of the Articles of Agreement make it immune from all laws.

On 7/22/1944, the IMF was created artificially under the Bretton Woods Agreement. Harry Dexter White, IMF director and CFR member was a Russian spy.

The Department of Treasury can be interchangeable with the IMF as seen in Presidential Documents, Volume 29, #4, pg. 113. The Treasury is under IMF authority.

The United States has not had a Treasury since 1921: 41 Stat. Ch. 214, pg. 654.

The Secretary of Treasury is not paid by the United States government. He is a US Governor of and paid by the IMF. He is a trustee whose Settler and Beneficiaries are unknown.
Public Law 94-564, supra, pg. 5942
U.S. Government Manual, 1990/1991, pgs. 480-481

Secretaries of Treasuries that are U.S. Governors of and paid by the IMF, the International Bank for Reconstruction and Development, Inter-American Development Bank, African Development Bank, Asian Development Bank, African Development Bank and European Bank for Reconstruction and Development, are unregistered agents of foreign powers, and thus guilty of treason.

The official names of the Internal Revenue Service are spelled and capitalized as follows:
Internal Revenue
Bureau of Internal Revenue
Bureau of Internal Revenue Service
internal revenue
internal revenue service
INTERNAL REVENUE SERVICE
Office Revenue Service
Federal Alcohol Administration
Director of Alcohol, Tobacco and Firearms Division
Bureau of Alcohol, Tobacco and Firearms
US Virgin Islands Bureau of Internal Revenue
US Internal Revenue Service in Puerto Rico

On 7/9/1953, G.M. Humphrey changed the name of the Bureau of Internal Revenue to the Internal Revenue Service through Treasury Order 150-06.

The IRS reduces public allotment of credit.
In 1992, 82% of what the government borrowed went to the interest on the debt.

48 USC Section 1421l(i) defines income tax laws.

In 1884, it was accepted that the property which every man has is his own labor (and) as it is the original foundation of all other property, so it is the most sacred and inviolable. Therefore, since wages are received as compensation for labor, it can not be legally taxed. Income, however, is the process of profiting from a business (someone else's labor) or investments, and is taxable, as in a Corporation, which is an artificial entity which is given the right to exist by the State. The Constitution only allows the Congress to collect taxes, and that is limited to a uniform excise tax on gasoline, alcohol, tobacco, telephone bills, firearms, and tires, things revolving in one way or another around interstate commerce.

26-US Code 3402(p) defines voluntary withholding agreements.
Labor is not profit.
In the case U.S. vs Ballard, it was determined income is not defined in the Internal Revenue Code.
In Eisner vs. Macklemore, it was determined that income is the gain come to fruition from capital or labor. It is indistinguishable of income.
In Lucas vs. Alexander, it was determined that the 1913 Tax Act refers to income only as profit or gain.

Under the Victory Tax Act, income tax for the years 1943 and 1944 were to be paid in the years 1944 and 1945. It expired at the end of 1944. Employees of the Federal Government, residents of D.C., naval bases, forts, US citizens of Virgin Islands, Puerto Rico, territories and insular possessions were lawfully required to pay Victory Tax.

In 31 USC Chapter 3, Subchapter 1, IRS, BATF or secret service are not listed as agencies of the Department of Treasury. The IRS is referenced to be audited by Controller General in Title 31 USC section 713.

Under Delegation Order 115 revision 5 of 5/12/1986, the only delegation of authority to conduct audit, enables the IRS and ATF to only audit themselves and for amounts of $750 or less. Any amount above $750 must be audited by the Controller General according to 31 USC. No other authority to audit exists. Order 191 states they can levy on property but only if in the hands of 3rd parties.

26-CFR 1.6091, explains the Director of International Operations and filing requirements. Nothing is filed with the IRS. There is no regulation pertaining to failure to file. There are no filing requirements.

Al Capone was jailed for tax due on alcohol illegally imported from Canada. He did not pay duties and excises on this alcohol. His partner was Edgar Brothman, the owner of Seagrams, who made a deal with the U.S. Government to get off.

IRS money spends at least a year in a "Quad Zero" account under an Individual Master File. The Director of the IRS can do whatever he wants with the money. It usually proceeds to the Director of the Service Center. Under Treasury Order 91, IRS money is dispersed to the Agency for International Development, the military arm of the United Nations, which provides for district directors, directors of service centers and assistant commissioners to become members of board of directors of the corporation that doles out money.

William Casey, CIA director, and head of AID, funneled millions to the Soviet Union to be spent building the Kama River Truck Factory.

Article 1, Section 8 of the U.S. Constitution forbids unapportioned direct taxes upon citizens of the 50 states. The Constitution forbids withholding tax.

In Pollock v. Farmers' Loan & Trust Co., it was concluded that direct taxes must be apportioned.

According to Clause 17 of Article 1, Section 8 of the Constitution, the Federal Government is limited to governing its own property.

The federal government can only tax on Federal Government Internal Revenue. The government has no duty to citizens / individuals.

The Federal Government's taxation is limited to 5 activities:

domestic corporations charted by the US government
net profits derived within the US by alien or foreign firms
net profits from foreign entities
net profits derived from Federal contracts for government upkeep, excise tax and privileges
net profits derived from wages and salaries of Federal employees

That includes
windfall profits like offshore oil wells,
war profits such as income from states and trusts maintained by the Federal Government for people in the military like Marine Killed In Duty trust fund,
customs taxes,
and the State Department.

The power of the Federal Government is limited to regulate commerce with foreign nations and among the several state and Indian tribes, according to Clause 3 of Article 1, Section 8 of the Constitution. In 18 USC Section 921, the term interstate or foreign commerce includes commerce between any place in a state, and any place outside of that state, or within any possession of the United States, not including the Canal Zone or D.C. but such terms does not include commerce between places within the same state but through any place outside of that state.

28 USC Rule 54(c), Application of Terms: "As used in these rules the following terms have the designated meanings. 'Act of Congress' includes any act of Congress locally applicable to and in force in the District of Columbia, in Puerto Rico, in a territory or in an insular possession."

In the IRS manual of 4/21/1989, 1132.72, Collection Division, says: "Executes the full range of collection activities on delinquent accounts, which includes securing delinquent returns involving taxpayers outside the United States and those in United States territories, possessions and in Puerto Rico."

page 1100-40.1 Director, Office of Taxpayer Service and Compliance: "Responsible for operation of a comprehensive enforcement and assistance program for all taxpayers under the immediate jurisdiction of the Assistant Commissioner (International) .... Directs the full range of collection activity on delinquent accounts and delinquent returns for taxpayers overseas, in Puerto Rico, and in United States possessions and territories."

page 1100-40.2 "the Criminal Investigation Division enforces the criminal statutes applicable to income, estate, gift, employment, and excise tax laws ... involving United States citizens residing in foreign countries and nonresident aliens subject to Federal income tax filing requirements by developing information concerning alleged criminal violations thereof, evaluating allegations and indications of such violations to determine investigations to be undertaken, investigating suspected criminal violations of such laws, recommending prosecution when warranted, and measuring effectiveness of the investigation processes"

The United States Attorney's Manual of 10/1/1988, Title 6 Tax Division, Chapter 4, page 16, , 6-4.270, Criminal Division Responsibility, states: "The Criminal Division has limited responsibility for the prosecution of offenses investigated by the IRS. Those offenses are: excise violations involving liquor tax, narcotics, stamp tax, firearms, wagering, and coin-operated gambling and amusement machines; malfeasance offenses committed by IRS personnel; forcible rescue of seized property; corrupt or forcible interference with an officer or employee acting under the internal revenue laws; and unauthorized mutilation, removal or misuse of stamps." See 28 C.F.R. Sec. 0.70.

If you volunteer that you are a U.S. citizen you have become a U.S. citizen. If you write your name on a line labeled taxpayer you have become a taxpayer.

A return is prepared by a taxpayer to submit to Federal Government taxes he/she collected.

A 1040 is an income tax return for non-resident alien citizen of the U.S. Virgin Islands residing in one of 50 states or agent thereof. It's a non-taxable return and the money derived from it doesn't go to the government.

A taxpayer is a tax collector who submits taxes as a return to the Federal Government.

A revenue agent is any duly authorized Commonwealth Internal Revenue Agent of the Department of the Treasury of Puerto Rico.

A revenue officer collects taxes and returns then files the returns with the District Director who files the return with the service center showing the taxes he collected in his district. This goes to the super center which files the return with Washington D.C. or with the Secretary of Treasury of Puerto Rico who is the Commissioner of Internal Revenue. He takes deductions for the cost to collect taxes.

An employee is employed by the Federal Government.

An employer is the Federal Government.

An individual is a citizen of Guam or the U.S. Virgin Islands.

A business is a government, bank or insurance company.

A domestic corporation is a corporation residing within D.C., Guam, Virgin Islands, Puerto Rico, Philippines, Northern Mariana Trust Territory, territories, and insular possessions.

A resident is an alien citizen of Guam, U.S. Virgin Islands, or Puerto Rico who resides within one of the 50 states of the Union or other island possessions.

The Federal Government must trick its citizens into voluntarily paying taxes as U.S. Citizens of Guam or Puerto Rico. Guam and the U.S. are mutually interchangeable.
In the Internal Revenue Code of 1954, which is the Internal Revenue Code of 1939, the U.S. and Guam are to coordinate individual income tax.

26 CFR 301.7654-1 explains coordination of U.S. and Guam individual income taxes. Section (e) explains military personnel in Guam.

pg. 65 of 26 CFR, created 6/1/1938, pertains to the China Trade Act, administered in the Philippines by the Bureau of internal revenue.

31 USC 1321 is the Philippines Customs Administrative Act passed by the Philippine Commission between 9/1/1900 and 8/31/1902. It merged customs and internal revenue in the Philippines. It is administered under general supervision and control of Secretary of Finance and Justice.

Trust Fund #1 is the Philippine Special Fund (Customs Duties).

Trust Fund #2 is the Philippines Special Fund (internal revenue) enacted by Internal Revenue Law of 1904 pertaining to alcohol taxes in the Philippines.

Article 1, Section 2 created the Bureau of Internal Revenue in the Department of Finance and Justice. The Collector of Internal Revenue is the Chief Officer appointed by the Civil Governor with advice and consent of the Philippines Commission. He is paid 8000 pesos per annum salary.

Article 1, Section 3: Collector of Internal Revenue under direction of Secretary of Finance and Justice shall have general superintendence of assessment and collection of all taxes and excises imposed by this act or any act amendatory thereof.

Trust Fund #62 is the Puerto Rico Special Fund (Internal Revenue).

27 CFR Chapter 1, section 2050.11 of 4/1/1994 defines:
Revenue Agent as any internal revenue agent of Treasury of Puerto Rico,
Secretary as Secretary of Treasury of Puerto Rico, and
US ATF Office as Puerto Rico operating under compliance with the North Atlantic region.

Tax Class 6 are violations of alcohol, tobacco or firearms in Puerto Rico.

In IRS publication 6209, IRS computer code "TC 150" is for Virgin Islands Returns. Codes 300 - 398 are listed as U.S. and UK Tax Treaty claims involving taxes on narcotics financed in the Cayman Islands and imported into the Virgin Islands.

Form 8288 is a backup withholding form for when you import narcotics into the Virgin Islands. Withhold 20% and pay to the Commissioner of Narcotics.

The Internal Revenue Manual, Handbook of Delegation Orders of January 17, 1983, page 1229-91 outlines the alleged Internal Revenue Service's system of monetary awards "of up to and including $5,000 for any one individual employee or group of employees in his/her immediate office, including field employees engaged in National Office projects; and contributions of employees of other Government agencies and armed forces members" with the approval of the Deputy Commissioner, "of $5,001 to $10,000 for any one individual or group" with approval of the Deputy Commissioner, "of $10,001 - $25,000 for any one individual or group" with the Commissioner's concurrence, "an additional monetary award of $10,000 (total $35,000) to the President through Treasury and OPM" with the Commissioner's concurrence.

The Federal Alcohol Administration Act, 27 USC 201, was created under the National Industrial Reconstruction Act, creating the Federal Alcohol Administration which was declared unconstitutional by the Supreme Court in the 1930s. Under 1940 Reorganization Plan #3, 5 USC 903 Subsection 8 and 9, its office abolished and functions directed to be administered under supervision of Secretary of Treasury through Bureau of Internal Revenue. It was transferred to the Philippines Bureau of Internal Revenue.

Reorganization Plan 26 of 1950 transferred the duties of the IRS related to alcohol, tobacco and firearms.
See 26 USC Chapters 51 - 53,
Chapters 61 - 80,
Section 7652, and 7653 in relation to tax and
27 USC Chapter 8.

On 6/6/1972, Charles E. Walker issued Treasury Order 120-01 to establish the ATF without legislation or knowledge of the people. It created the Director, Alcohol Tobacco and Firearms division.

The ATF is an international police organization made up of the Philosophers of Fire exempt from the laws of the USA.

Their jurisdiction is Puerto Rico and the Virgin Islands. The Regional Director of Compliance is the Puerto Rico BATF. The only illegal arms are ones imported from Puerto Rico and taxes not paid on them.

In 1975 it was named the Internal Revenue Service.

In the 12/15/1976 edition of the Federal Register, Director, ATF replaced by IRS.

Title 26-USC Chapters 61 to 80 doesn't pertain to the public. Regulations apply to officers and employees and the ATF / IRS. It explains procedures that include: keeping records, examination of records, determination of district director whether required to file return, internal audit, IRS can audit if under $750, if over $750, it must be conducted by the Inspector General, filing requirements, record keeping, examination assessment, how to pay, tax court, criminal investigation and prosecution. These are delegated to the BATF in Puerto Rico, the Puerto Rican and the Virgin Islands tax agency. They are only relevant to Puerto Rican product. Not permitted to obtain records pertaining to Chapters 61 and 80.

Reference: https://www.nationallibertyalliance.org/files/docs/DocumentsEssays/Cooper%20File.pdf

Forex Trading in Islam: Your views

Do You Have to Pay Taxes on Slot Machine Winnings?

We all love to read stories about big wins and imagine ourselves in the shoes of those winners. But, have you ever thought about what happens at that very moment after successfully beating the slot machine? Usually, the slot machine locks up and, in most cases, you hear the music and see the flashing lights on top of the machine. But one of the first questions every player asks is whether they have to pay taxes on casino winnings? Well, you’re about to find out!

Taxes on Slot Machine Winnings in USA

In the USA, when a lucky player hits a jackpot, there’s the option of receiving the winnings in cash or check. In case it’s a large sum, it’s usually paid by check. However, the IRS only obliges the casinos to report winnings that are larger than $1,200.
Of course, all winners are obliged to show a proper identification— a valid ID or passport. When the casino checks for your identification they also look at your age to make sure you are officially and legally old enough to play. As the minimum legal age for gambling varies from state to state, be sure to check it out before you decide to play.

Do I Have to Report All Winnings?

All gambling winnings received from slot machines are subject to federal taxes, and both cash and non-cash winnings (like a car or a vacation) are fully taxable. Apart from slot machines, the same applies to winnings from lottery, bingo, keno, poker or other games of chance. So, if the amount won on a slot machine is higher than $1200, the casino is required to report it. In other words, all your gambling winnings have to be reported on your tax return as "other income" on Schedule 1 (Form 1040), line 8.

Slot Machine Winnings in W-2G Form

In case it happens to you and you snag that big win (which we hope one day you will), it’s useful to know that casino or other payer must give you a W-2G Form, listing your name, address and Social Security number. So, if the winnings are reported through a W-2G Form, federal taxes will be withheld at a rate of 25%.
If, however, you didn’t provide your Social Security number (or your Tax Identification Number), in that case the withholding will be 28%. Either way, a copy of your Form W-2G should be issued, showing the amount you won alongside the amount of tax withheld. One copy needs to go to the IRS, as well.
Aside from slot winnings, Form W-2G is issued to winners of the following types of gambling activities like:

bingo (for players who win $1,200 or more),
keno (for at least $1,500 worth wins)
poker tournament players (for the $5,000 win or more).
a horse track (if the winnings are 300x your bet)

However, not all gambling winnings are subject to IRS Form W2-G. For instance, W2-G forms are not required for winnings from table games like blackjack, baccarat, and roulette, whatever the amount. You’d still have to report your winnings to the IRS, it’s just you won’t need to do it through W-2G Form.

Are My Slot Losses Deductible?

The good news is that you can deduct your slot losses (line 28 of Schedule A, Form 1040), while the bad news is gambling losses are deductible only up to the amount of your wins. In other words, you can use your losses to compensate for your winnings. So, let’s say you won $200 on one bet, but you lost $400 on one or a few others, you can only deduct the first $200 of losses. Meaning if you didn’t win anything for a year, you won’t be able to deduct any of your gambling losses.
In order to prove your losses, you need to keep good records and have suitable documents. So, whenever you lose, keep those losing tickets, cancelled checks and credit slips. Your documentation must include the amount you won or lost, a date and time, type of wager, type of your gambling activity, name of each casino/address of each casino you visited and the location of their gambling business. You may as well list the people who were with you.

Do State and Local Taxes Apply Separately?

Yes, you are required to pay your state or local taxes on your gambling winnings. In case you travel to another state, and snag some huge winning combo there, that other state would want to tax your winnings too. But don’t worry, you won't be taxed twice, as the state where you reside needs to give you a tax credit for the taxes you pay to that other state.
Keep in mind though that some states like Connecticut, Massachusetts, and Ohio don't allow gambling losses.

Online Slot Taxes

Whether you usually spin the reels of your favourite casino games in land-based casinos in the US, overseas casinos, or online casinos, all income for the citizens of the US is taxable. As a US citizen, you are required to send Form W2G for all winnings from a slot machine (not reduced by the wager) that equals to or is more than $1,200.

Taxes on Slot Machine Winnings in UK

As a resident of the United Kingdom, your gambling winnings won’t be taxed. Unlike the USA mentioned above, you’ll be allowed to keep whatever it is that you have won and earned in Britain, even in case you are a poker pro. Then again, you won’t be able to deduct any losses you might collect.
It doesn’t really matter if you win £5 or £5 million playing online slots, your winnings will be tax-free as long as you reside anywhere in the UK, be that in England, Wales, Northern Ireland or Scotland.

Taxes on Slot Machine Winnings in Canada

If you are a recreational player who lives in Canada, we have good news for you. When it comes to gambling, you don't have to pay taxes as your winnings are totally tax free. According to laws in Canada, gambling activities don’t fall under the category of constant source of income, therefore your winnings will not be taxed.
Canadians don't even pay taxes on their lottery winnings. The only exception here are professional gamblers who make a living from betting and are, therefore, obliged to pay taxes. Keep in mind though, this is the current situation - laws in Canada change frequently, which may also include tax laws.

Taxes on Slot Machine Winnings in Australia

In case you reside in Australia and like to visit casinos from time to time, you’ll be happy to find out that your winnings in Australia will not taxed and here are 3 core reasons for that:

Gambling is not treated a profession (it's treated as a hobby)
The government doesn’t see profits from gambling activities as income, but as a result of good luck
The Australian government taxes casino operators and lottery organisers instead.

Of course, taxation varies from state to state.

Taxes on Slot Machine Winnings in New Zealand

Unlike in Australia, where even professional players can claim they are recreational, in New Zealand slot machine winnings (and any other winnings from casino games) are considered taxable income, in case the player has little income from other resources.
But, apart from professional gambling, it is very unusual for winnings to be taxed in New Zealand. Most often, gambling is considered recreational and not income, so players can enjoy their gameplay as they do not have to pay taxes on their winnings.

Dystopia [Long]

Subject: Problems with the United States of America et al.
From: 1ECwTbMCBsD9irW2DwnNzZydqFNBqvKfh3
To: The 99%
CC: Senator Bernie Sanders, President Barack Obama, Dave Chappelle, Bill Gates, The World
June 15, 2020
There are two ways to conquer and enslave a nation. One is by the sword. The other is by debt.
-John Adams
Dear 99%,
I am a proud American and I am grateful for the liberties we enjoy in the United States of America.
I am a simple man who is not particularly versed in the areas of politics of which I speak. These musings are based on my own observations. I certainly do not have all the answers, I throw these ideas out in hopes that they may stimulate thought with the aim of improving America for all Americans. Keeping silent is unpatriotic.
A light has been shined on the American police problem, but it is just the tip of the iceberg in what are numerous deeply rooted issues concealing entrenched, multifaceted systems of oppression meant to indiscriminately maintain the status quo over the 99% regardless of skin pigment.
What if there was no pandemic? What if there was no video? Would we still be out in the streets demanding justice for George Floyd? Were there not numerous videos of police cruelty before George Floyd? How long have these injustices been going on for? And why are we only now protesting with such vigor?
I believe in part, the shutdowns caused by the pandemic have freed peoples’ spirits. With a large portion of the population currently unemployed or underemployed, we are less exhausted from our jobs – sometimes multiple jobs – grinding away our minds and bodies; we have the time and energy to engage in extraprofessional activities such as marching for justice. People have been less able to turn a blind eye to these unpleasantries by distracting themselves with bread and games amid COVID-19. It is unfortunate that such a series of events must occur to rightfully enrage and mobilize the American population against such blatant inequality and injustice. These events have helped raise awareness about some of the hardships imposed on and endured by disenfranchised American victims of racism and the cycle of poverty. Moving forward, Americans must be vigilant in speaking out against inequality and injustice even when presented with more convenient options, otherwise these events will end up being just another blip in the historic record without catalyzing lasting transformations. George Floyd was not the first person to be lynched by police, and sadly, he will not be the last unless real change happens which will involve reforms to the political, educational, healthcare, financial and enforcement systems of America.
-Voting is taxing: The people with the most to gain from voting out incompetent or corrupt politicians are often the ones who can least afford to do so. Those living in poor areas of the United States have less resources to carry out the task (time, money, transportation, energy, patience, hope, etc). These obstacles work to inhibit travel to and from the voting polls and encourage apathy and inaction. Keeping poor communities tired and hopeless is a tactic in maintaining the status quo via the suppression of dissenting voices in government. Some have actively engaged in activities ensuring it is difficult for poor communities to vote in mass – this is an affront to our democracy. Election voting days should be made a national holiday (including primaries, if these archaic rituals are not revamped altogether). Expand and facilitate mail in voting. Implement ranked choice elections – this will help solve our two-party problem where voters often feel like they are choosing between two puppets serving the same master. Russia is not the only country meddling in our elections. The politicians who serve us are also guilty of the same (e.g. Gerrymandering – Electoral boundary manipulation by those with enough money, power, and lack of morals). There is hope for sustainable justice but it starts with voting, #Vote4Floyd.
-End the Fed: The Federal Reserve (The Fed) is America’s central bank with questionable oversight whose name is derived to invoke and imply authority of the federal government and therefore (at least nominally) accountability to, the American people. On paper, the Fed answers to congress, which in a perfect world would be a representative body, of the people and for the people, this is not the case. Educate yourselves on the Federal Reserve and its role in previous greed driven economic catastrophes. End the Fed, stop feeding the oligarchs and the connected cronies they implant into the systems, corporations, and banks which directly benefit from the money these crooks print out of thin air at our expense. Financial institutions need more oversight, and we should be searching for solutions or alternatives. Perhaps we should gradually #OptOut.
-Banks and Lending Practices: The US banking system operates on a fractional reserve system. This requires banks to keep only a tiny fraction of the money they lend on reserve, the rest of which they may loan out and charge interest on. Banks literally make money using our money, and still assess overdraft fees and monthly maintenance fees from those who barely have enough to get by as it is (and who cannot afford maintaining minimum balances as they do not possess regular income, or are busy living paycheck to paycheck). These fees might as well be called “poor taxes” as it appears being poor is expensive. We should all vote with our money by removing it from these banks and only doing business with less greedy fee free credit unions. Historically, the banking/financing sector has been racist and biased in their distribution of opportunity to the public favoring the rich living in better neighborhoods. This is a problem, how can historically disadvantaged people for example, raise capital to start businesses, obtain reliable transportation, buy houses in better neighborhood so that their children might benefit from better education all when they are caught in the cycle of poverty (or worse yet, also affected by blatant or backdoor racism)? Socioeconomically induced inequitable access to opportunity is a massive problem in the United States and this affects the 99%, including the middle class. The richer the family you are born into, the higher the quality of education you are likely to receive, the more connected you are, the more access to resources and support for stepping into the world “on the right foot”, obtaining stable income, building/maintaining a higher credit scores which translates to lower interest rates, and in general, better opportunities. From a purely business standpoint, it is then quite understandable that banks would want to obtain the business of these less risky, rich desirables while treating others as low priority clientele (likely with algorithms to “justify” doing so). The terms of credit lines and loans extended to those from disadvantaged communities should be examined (e.g. payday loan offices that plague these communities – or credit cards with outrageous APRs awarded to those from these communities lacking the education to use them wisely leading to the destruction of their credit scores and therefore justification from banks to deny opportunity to these individuals later in life thereby inhibiting class mobility). Lenders and banks have gamed and weaponized their monetary instruments (e.g. predatory credit cards and loans) against disadvantaged communities by enabling the less financially literate to dig themselves into financial holes from which they may never recover; this is a herding mechanism which relegates and confines the disadvantaged to certain neighborhoods (further perpetuating the cycle of poverty).
-Corporations: Corporations and their leadership often lack morals, and strive to make money at any cost including human wellbeing, and our environment. The tactics they use are at times reprehensible, deceitful, fraudulent, inhumane and/or illegal. For example, Wells Fargo [downright fraud – opening of fake bank accounts without client consent], Nestle [morally reprehensible – mining our aquifers for water without regard for long term sustainability], Bayer [inhumane – knowingly distributed/offloaded HIV contaminated blood products leading to the infection of thousands]. Notably, CoreCivic, a reprehensible and inhumane for-profit prison corporation that spends millions lobbying for mandatory minimum sentences for low-profile crimes to keep prisons supplied with “livestock” thereby keeping taxpayer dollars rolling in. America’s incarceration system disproportionally affects those from disadvantaged communities who are victims and products of the circumstances they are born into. This does not excuse illegal behavior but ultimately, rehabilitation should be the goal of the system. This is counter to a “for-profit” business model whose profitability is directly dependent on the number of inmates locked up. There is a clear conflict of interest with a system that lobbies against decriminalization of substances such as marijuana just because it would reduce inmate numbers and be bad for their business (something they have done). Private for-profit prisons are not interested in rehabilitating inmates, they are interested in return customers and a packed house. It is the disadvantaged who are disproportionally fed into this corporate money-making machine that is the American incarceration system which is funded by tax dollars.
The list of corporate wrongdoing goes on and it is a common theme among massive businesses, they exploit consumers, taxpayers and our land’s natural resources leaving a wake of generationally persistent destruction. The consequences they face end up being a slap on the wrist compared to the massive profits they generated by committing these acts. The paltry fines they face from regulators, and the class action lawsuits that follow do not deter the companies from these practices. The leadership rarely face any real repercussions even when they themselves directed or had full knowledge of what was going on. Arbitration clauses in contracts should be outlawed. The protections given to corporations that shield their leadership from consequences should be examined and corporations need to start being held accountable for their corrupt practices in proportion to their revenue.
-Legal Systems: Lady justice might be blind, but the scales can be tipped with piles of cash. America’s legal system heavily favors the rich who can afford to obtain better lawyers and expensive drawn out litigation processes. Even if someone is fighting the good fight, and is in the right, they can still lose cases or be forced into settling in battles of attrition where the rich and powerful, and corporations possess a massive advantage. A common tactic is to draw out litigation making it costly mentally and financially to whoever dares using the legal system against an offender higher in the food chain than they are. How is this justice? This applies to all faces of the legal system (e.g. criminal justice, lawsuits, intellectual property, etc.). For example, the intellectual property system which is meant to enable creative individuals to pull themselves up by their bootstraps is skewed in favor of the individuals and corporations who can afford to appropriately pursue intellectual property prosecution. Justice, fair compensation, and capitalization of creativity favors those with deeper pockets.
-Politicians: Our government is supposed to be comprised, of the people, and for the people, but it is often the case that politician’s voices and consideration can be bought through donations and other questionable but legitimized means of fundraising (e.g. super pacs). Mercenary politicians and lobbyists who work to further the agenda of the rich, powerful, and corporations are for example, negatively influencing consumer protection laws, regulator funding and efficacy, and opening holes for the exploitation of taxpayers and consumers to the detriment of the wider public benefit. For example, Comcast paid lobbyists to push for the repeal of net neutrality which protected consumers from selective throttling of data by internet service providers. Comcast effectively possesses a monopoly in many parts of the United States but this repeal of net neutrality has given them absurd power and influence over what information people can and cannot easily access over the internet. This power is ripe for abuse and can in one hypothetical example, potentially be used to influence elections by controlling what websites certain localities and demographics can and cannot easily access over the internet (e.g. CNN vs Fox). This can be used to bias the population’s sentiment and vote via reinforced exposure to different media propaganda machines.
As a concrete hypothetical example, let’s say two primary news websites exist which are consumed by a country’s population (news websites “A” and “B”). One day, Comcast decides that all news websites will be throttled because they use too much bandwidth. News website “B” then signs a contract with Comcast for speeding up their website. Now it takes news website “A” longer to load compared to website “B”. Some people might turn to website “B” for their news consumption which might influence their political outlook depending on that website’s political compass and the lens through which they present information. In an even more heinous hypothetical example, let’s now assume that news website “B” is favored by Comcast for its political compass and lens. Adding fuel to the fire, Comcast shareholders also own shares in website “B” and therefore are vested in its outcompeting of website “A”. Comcast then offers website “B” a contract with favorable terms, while effectively embargoing website “A” by deadlocking contract negotiations and making it unfeasibly expensive to unthrottled their website. The net neutrality protections which were repealed have far reaching implications, and I am left wondering if the politicians in charge were ignorant to the complexities, or if they knew exactly what they were doing. I do not know which is worse. This venal power is corrosive, no democratic government, much less a monopolistic for-profit corporation, should wield this much influence.
-Media: Recently, media companies have been less concerned with the dissemination of facts and are more interested in obtaining viewership and readership through cheap clickbait and sensationalized headlines. Media companies such as those controlled by the billionaire class are swaying public opinion and votes towards self-serving political agendas. They are also guilty of selectively covering or ignoring stories depending on their political aims. For example, media did not fairly provide Senator Bernie Sander with coverage during the Democratic primaries, which may have affected his performance, and therefore our elections. Fair, unbiased reporting is a dying breed in a world where the oligarchs own the media, this is counter to having an informed voting public. Consolidation of media companies has resulted in their politicization. The often politically polarized lenses these companies spin stories and report through is driving a wedge between Americans.
-Health Care System: Our healthcare system is a disaster, it’s a demonstration of what happens when corporate greed goes unchecked. Healthcare is a human right and a first world government’s responsibility to all its citizens. It is not a luxury to be enjoyed by those who can afford it and should not be the number one cause of bankruptcies in America. The American healthcare and insurance system is complicated, expensive, bloated and corrupt. For example, pharmaceutical companies collude to raise and fix prices for life saving medication. Some companies offer discounts for their drugs which they use as deductions on taxable income, thereby avoiding taxes on income from already extortionate medication. The insurance companies are all too eager to find any reason, legitimate or not, to deny claims for not following obscure or deviously complicated fine print. Hospitals charge enormous amounts by default hoping that customers and insurance companies foot the bill, sometimes reducing the bills only upon customer inquiry. Unfortunately, these things have become the modus operandi of the healthcare system.
America’s healthcare system is contributing to the younger generation’s bleak outlook of the future. Not having a stable healthcare system affects people psychologically and has consequences beyond the immediately measurable economic impacts often cited by those against the implementation of social healthcare programs. People from the disadvantaged side of America’s wealth wall are disproportionately and consistently afflicted by curable diseases because they cannot afford to go to a doctor before a small problem turns into a larger one. This is yet another invisible tax on the disadvantaged who pay the price in crippling debt or bankruptcy, lifelong pain, psychological burden, and/or premature death (all of which take an invisible toll on our national economy and security).
-Education System: “Education then, beyond all other devices of human origin, is the great equalizer of the conditions of men, the balance-wheel of the social machinery” -Horace Mann.
Regardless of race, education is perhaps the only tool with which we can break the shackles of inherited poverty, bigotry and social ignorance. Police, the protectors of the status quo, have been funded to the brim where education has suffered greatly. An educated public goes against the rich agenda, less critical thinkers are more easily swayed, pacified, exploited or muted. It is perhaps by self-reinforcing design that schools, especially in lower income areas, are underfunded, understaffed and the teachers overworked and underpaid. Regarding the cost of obtaining a University education, it is as if “indentured servitude” has been re-packaged as “debt” and is being offered to those seeking the elusive “American Dream”. Education, much like healthcare, is a right and perhaps the highest duty of a modern democracy to its people if it is to remain in good health. Capitalism without the counterbalance of an educated public is a broken system that will eventually run itself into the ground. It is often the case that good quality teachers can obtain higher paying work, and some do indeed blamelessly exit academia for the promise of better pay. The compensation systems of America must be fixed to reduce teacher attrition and ensure that high quality professionals are recruited and retained in these critical positions. Schools must be better funded, and teachers must receive compensation that aligns with the massive benefits they provide society. These will strengthen our national security as well. Nowadays, information can go viral via the internet and social media, it has never been more pertinent that a government inoculate its citizens against both internal or external propaganda and misinformation, education and critical thinking skills are the vaccine.
Investments in education pay off greatly over time, and only through education can we heal the cancers of ignorance, bigotry and inequality that have metastasized across most facets of our systems and institutions.
-Underfunded Regulators: Regulators and regulatory bodies exist for the public benefit. The recent trend in defunding, underfunding, and weakening of regulators such as the US Environmental Protection Agency (EPA) is the result of concerted efforts by the wealthy, the media propaganda machines, and corporations they control. Weak regulatory bodies cannot efficiently protect the public from exploitation. Regulatory bodies such as the EPA, CDC, IRS, SEC, DOL, FCC and CFPB must be appropriately funded and their systems modernized moving forward. It’s odd that police departments are funded to the brim while these overseeing regulatory bodies starve, and I am left wondering if this is a coincidence.
-Tax the Rich: The 1% and the corporations they control must pay higher taxes. The rich have access to accountants, lawyers and tax specialists which enables them to navigate our convoluted taxation system unscathed using loopholes and unfair strategies. For example, write offs on interest from debt taken on by companies but ultimately used for questionable purposes such as dividend payments or buybacks, or employee compensation in the form of company stock enabling write off of the difference in value between when that stock is issued and when it is ultimately sold, tax havens, shell companies, and the list goes on. Those with less resources are often forced to pay more (relatively) than their billionaire class counterparts. This problem is compounded by the strategic and systematic incentives or pressure placed on politicians by the 1% to introduce loopholes, weaken existing protections, and defund/underfund the regulators who exist to thwart or prevent these tactics (well-funded political opposition and regulators such as the IRS and SEC go against the rich agenda).
Oligarchs, their cronies, financial institutions and the corporations they control have perverted the once great concept of the “invisible hand”. They intervene in our democratic processes to further self-interests at the expense of the public benefit. We are living in a system that gives us the illusion – or semblance, if we are lucky – of justice, opportunity, class mobility, and the “American Dream”. While some of these are achievable through mountainous effort, the struggle in achieving these are unbalanced depending on factors that should be inconsequential such as skin pigment, zip code of birth, and social connectedness. These coercive instruments of oppression propagated throughout our engineered society have kept us busy keeping each other compliant, fighting amongst ourselves over scraps – and promotions, grinding for our next paycheck and inhibiting our drive for vindicated civil disobedience – lest we go hungry or homeless, and have placated us with bread and games to shroud the connected few who rob us through the camouflaged systems they proliferate. We are attempting to climb an ever-growing cliff where the rich have reached the top, raised the ladders, and continue pouring grease along the slopes. Main street is not wall street. Greed has severed the relationship between market performance, our country’s production, and the average American’s plight. The rich get richer by, among other things, their ease of access to newly printed money (debt) before the wider population increasing their purchasing power before inflation takes hold, allowing them to purchase and accumulate stocks and assets at a discount (Cantillon Effect) – further increasing their political influence which they use to further self-serving interests. This has resulted in a financial and social bubble that is bound to burst violently without intervention. We, the 99%, do not fairly share in the fruits of our labor, yet we are consistently forced to bear the burden of corporate and institutional shortsightedness, greed, gambling and failure.
The 1% have their perverted hands wrapped around our necks. We can’t breathe.
Save our Earth – Solve Climate Change
Free the Invisibly Oppressed 99%
Black Lives Matter
R.I.P. George Floyd
Respectfully yours,
IL0d+pVNGjrWLGdkBM3qCHurLj66eKQOqLMbmuZsJSfqMnsH8fG4ilASmUksMx7s51MVByBNfOVWAjeEGVkhtf8=

Dear 99%

TLDR: We, the 99%, do not fairly share in the fruits of our labor, yet we are consistently forced to bear the burden of corporate and institutional shortsightedness, greed, gambling and failure.
The 1% have their perverted hands wrapped around our necks. We can’t breathe.

There are two ways to conquer and enslave a nation. One is by the sword. The other is by debt.
-John Adams

Dear 99%,

I am a proud American and I am grateful for the liberties we enjoy in the United States of America.

I am a simple man who is not particularly versed in the areas of politics of which I speak. These musings are based on my own observations. I certainly do not have all the answers, I throw these ideas out in hopes that they may stimulate thought with the aim of improving America for all Americans. Keeping silent is unpatriotic.

A light has been shined on the American police problem, but it is just the tip of the iceberg in what are numerous deeply rooted issues concealing entrenched, multifaceted systems of oppression meant to indiscriminately maintain the status quo over the 99% regardless of skin pigment.

What if there was no pandemic? What if there was no video? Would we still be out in the streets demanding justice for George Floyd? Were there not numerous videos of police cruelty before George Floyd? How long have these injustices been going on for? And why are we only now protesting with such vigor?

I believe in part, the shutdowns caused by the pandemic have freed peoples’ spirits. With a large portion of the population currently unemployed or underemployed, we are less exhausted from our jobs – sometimes multiple jobs – grinding away our minds and bodies; we have the time and energy to engage in extraprofessional activities such as marching for justice. People have been less able to turn a blind eye to these unpleasantries by distracting themselves with bread and games amid COVID-19. It is unfortunate that such a series of events must occur to rightfully enrage and mobilize the American population against such blatant inequality and injustice. These events have helped raise awareness about some of the hardships imposed on and endured by disenfranchised American victims of racism and the cycle of poverty. Moving forward, Americans must be vigilant in speaking out against inequality and injustice even when presented with more convenient options, otherwise these events will end up being just another blip in the historic record without catalyzing lasting transformations. George Floyd was not the first person to be lynched by police, and sadly, he will not be the last unless real change happens which will involve reforms to the political, educational, healthcare, financial and enforcement systems of America.

-Voting is taxing: The people with the most to gain from voting out incompetent or corrupt politicians are often the ones who can least afford to do so. Those living in poor areas of the United States have less resources to carry out the task (time, money, transportation, energy, patience, hope, etc). These obstacles work to inhibit travel to and from the voting polls and encourage apathy and inaction. Keeping poor communities tired and hopeless is a tactic in maintaining the status quo via the suppression of dissenting voices in government. Some have actively engaged in activities ensuring it is difficult for poor communities to vote in mass – this is an affront to our democracy. Election voting days should be made a national holiday (including primaries, if these archaic rituals are not revamped altogether). Expand and facilitate mail in voting. Implement ranked choice elections – this will help solve our two-party problem where voters often feel like they are choosing between two puppets serving the same master. Russia is not the only country meddling in our elections. The politicians who serve us are also guilty of the same (e.g. Gerrymandering – Electoral boundary manipulation by those with enough money, power, and lack of morals). There is hope for sustainable justice but it starts with voting, #Vote4Floyd.

-End the Fed: The Federal Reserve (The Fed) is America’s central bank with questionable oversight whose name is derived to invoke and imply authority of the federal government and therefore (at least nominally) accountability to, the American people. On paper, the Fed answers to congress, which in a perfect world would be a representative body, of the people and for the people, this is not the case. Educate yourselves on the Federal Reserve and its role in previous greed driven economic catastrophes. End the Fed, stop feeding the oligarchs and the connected cronies they implant into the systems, corporations, and banks which directly benefit from the money these crooks print out of thin air at our expense. Financial institutions need more oversight, and we should be searching for solutions or alternatives. Perhaps we should gradually #OptOut.

-Banks and Lending Practices: The US banking system operates on a fractional reserve system. This requires banks to keep only a tiny fraction of the money they lend on reserve, the rest of which they may loan out and charge interest on. Banks literally make money using our money, and still assess overdraft fees and monthly maintenance fees from those who barely have enough to get by as it is (and who cannot afford maintaining minimum balances as they do not possess regular income, or are busy living paycheck to paycheck). These fees might as well be called “poor taxes” as it appears being poor is expensive. We should all vote with our money by removing it from these banks and only doing business with less greedy fee free credit unions. Historically, the banking/financing sector has been racist and biased in their distribution of opportunity to the public favoring the rich living in better neighborhoods. This is a problem, how can historically disadvantaged people for example, raise capital to start businesses, obtain reliable transportation, buy houses in better neighborhood so that their children might benefit from better education all when they are caught in the cycle of poverty (or worse yet, also affected by blatant or backdoor racism)? Socioeconomically induced inequitable access to opportunity is a massive problem in the United States and this affects the 99%, including the middle class. The richer the family you are born into, the higher the quality of education you are likely to receive, the more connected you are, the more access to resources and support for stepping into the world “on the right foot”, obtaining stable income, building/maintaining a higher credit scores which translates to lower interest rates, and in general, better opportunities. From a purely business standpoint, it is then quite understandable that banks would want to obtain the business of these less risky, rich desirables while treating others as low priority clientele (likely with algorithms to “justify” doing so). The terms of credit lines and loans extended to those from disadvantaged communities should be examined (e.g. payday loan offices that plague these communities – or credit cards with outrageous APRs awarded to those from these communities lacking the education to use them wisely leading to the destruction of their credit scores and therefore justification from banks to deny opportunity to these individuals later in life thereby inhibiting class mobility). Lenders and banks have gamed and weaponized their monetary instruments (e.g. predatory credit cards and loans) against disadvantaged communities by enabling the less financially literate to dig themselves into financial holes from which they may never recover; this is a herding mechanism which relegates and confines the disadvantaged to certain neighborhoods (further perpetuating the cycle of poverty).

-Corporations: Corporations and their leadership often lack morals, and strive to make money at any cost including human wellbeing, and our environment. The tactics they use are at times reprehensible, deceitful, fraudulent, inhumane and/or illegal. For example, Wells Fargo [downright fraud – opening of fake bank accounts without client consent], Nestle [morally reprehensible – mining our aquifers for water without regard for long term sustainability], Bayer [inhumane – knowingly distributed/offloaded HIV contaminated blood products leading to the infection of thousands]. Notably, CoreCivic, a reprehensible and inhumane for-profit prison corporation that spends millions lobbying for mandatory minimum sentences for low-profile crimes to keep prisons supplied with “livestock” thereby keeping taxpayer dollars rolling in. America’s incarceration system disproportionally affects those from disadvantaged communities who are victims and products of the circumstances they are born into. This does not excuse illegal behavior but ultimately, rehabilitation should be the goal of the system. This is counter to a “for-profit” business model whose profitability is directly dependent on the number of inmates locked up. There is a clear conflict of interest with a system that lobbies against decriminalization of substances such as marijuana just because it would reduce inmate numbers and be bad for their business (something they have done). Private for-profit prisons are not interested in rehabilitating inmates, they are interested in return customers and a packed house. It is the disadvantaged who are disproportionally fed into this corporate money-making machine that is the American incarceration system which is funded by tax dollars.

The list of corporate wrongdoing goes on and it is a common theme among massive businesses, they exploit consumers, taxpayers and our land’s natural resources leaving a wake of generationally persistent destruction. The consequences they face end up being a slap on the wrist compared to the massive profits they generated by committing these acts. The paltry fines they face from regulators, and the class action lawsuits that follow do not deter the companies from these practices. The leadership rarely face any real repercussions even when they themselves directed or had full knowledge of what was going on. Arbitration clauses in contracts should be outlawed. The protections given to corporations that shield their leadership from consequences should be examined and corporations need to start being held accountable for their corrupt practices in proportion to their revenue.

-Legal Systems: Lady justice might be blind, but the scales can be tipped with piles of cash. America’s legal system heavily favors the rich who can afford to obtain better lawyers and expensive drawn out litigation processes. Even if someone is fighting the good fight, and is in the right, they can still lose cases or be forced into settling in battles of attrition where the rich and powerful, and corporations possess a massive advantage. A common tactic is to draw out litigation making it costly mentally and financially to whoever dares using the legal system against an offender higher in the food chain than they are. How is this justice? This applies to all faces of the legal system (e.g. criminal justice, lawsuits, intellectual property, etc.). For example, the intellectual property system which is meant to enable creative individuals to pull themselves up by their bootstraps is skewed in favor of the individuals and corporations who can afford to appropriately pursue intellectual property prosecution. Justice, fair compensation, and capitalization of creativity favors those with deeper pockets.

-Politicians: Our government is supposed to be comprised, of the people, and for the people, but it is often the case that politician’s voices and consideration can be bought through donations and other questionable but legitimized means of fundraising (e.g. super pacs). Mercenary politicians and lobbyists who work to further the agenda of the rich, powerful, and corporations are for example, negatively influencing consumer protection laws, regulator funding and efficacy, and opening holes for the exploitation of taxpayers and consumers to the detriment of the wider public benefit. For example, Comcast paid lobbyists to push for the repeal of net neutrality which protected consumers from selective throttling of data by internet service providers. Comcast effectively possesses a monopoly in many parts of the United States but this repeal of net neutrality has given them absurd power and influence over what information people can and cannot easily access over the internet. This power is ripe for abuse and can in one hypothetical example, potentially be used to influence elections by controlling what websites certain localities and demographics can and cannot easily access over the internet (e.g. CNN vs Fox). This can be used to bias the population’s sentiment and vote via reinforced exposure to different media propaganda machines.

As a concrete hypothetical example, let’s say two primary news websites exist which are consumed by a country’s population (news websites “A” and “B”). One day, Comcast decides that all news websites will be throttled because they use too much bandwidth. News website “B” then signs a contract with Comcast for speeding up their website. Now it takes news website “A” longer to load compared to website “B”. Some people might turn to website “B” for their news consumption which might influence their political outlook depending on that website’s political compass and the lens through which they present information. In an even more heinous hypothetical example, let’s now assume that news website “B” is favored by Comcast for its political compass and lens. Adding fuel to the fire, Comcast shareholders also own shares in website “B” and therefore are vested in its outcompeting of website “A”. Comcast then offers website “B” a contract with favorable terms, while effectively embargoing website “A” by deadlocking contract negotiations and making it unfeasibly expensive to unthrottled their website. The net neutrality protections which were repealed have far reaching implications, and I am left wondering if the politicians in charge were ignorant to the complexities, or if they knew exactly what they were doing. I do not know which is worse. This venal power is corrosive, no democratic government, much less a monopolistic for-profit corporation, should wield this much influence.

-Media: Recently, media companies have been less concerned with the dissemination of facts and are more interested in obtaining viewership and readership through cheap clickbait and sensationalized headlines. Media companies such as those controlled by the billionaire class are swaying public opinion and votes towards self-serving political agendas. They are also guilty of selectively covering or ignoring stories depending on their political aims. For example, media did not fairly provide Senator Bernie Sander with coverage during the Democratic primaries, which may have affected his performance, and therefore our elections. Fair, unbiased reporting is a dying breed in a world where the oligarchs own the media, this is counter to having an informed voting public. Consolidation of media companies has resulted in their politicization. The often politically polarized lenses these companies spin stories and report through is driving a wedge between Americans.

-Health Care System: Our healthcare system is a disaster, it’s a demonstration of what happens when corporate greed goes unchecked. Healthcare is a human right and a first world government’s responsibility to all its citizens. It is not a luxury to be enjoyed by those who can afford it and should not be the number one cause of bankruptcies in America. The American healthcare and insurance system is complicated, expensive, bloated and corrupt. For example, pharmaceutical companies collude to raise and fix prices for life saving medication. Some companies offer discounts for their drugs which they use as deductions on taxable income, thereby avoiding taxes on income from already extortionate medication. The insurance companies are all too eager to find any reason, legitimate or not, to deny claims for not following obscure or deviously complicated fine print. Hospitals charge enormous amounts by default hoping that customers and insurance companies foot the bill, sometimes reducing the bills only upon customer inquiry. Unfortunately, these things have become the modus operandi of the healthcare system.

America’s healthcare system is contributing to the younger generation’s bleak outlook of the future. Not having a stable healthcare system affects people psychologically and has consequences beyond the immediately measurable economic impacts often cited by those against the implementation of social healthcare programs. People from the disadvantaged side of America’s wealth wall are disproportionately and consistently afflicted by curable diseases because they cannot afford to go to a doctor before a small problem turns into a larger one. This is yet another invisible tax on the disadvantaged who pay the price in crippling debt or bankruptcy, lifelong pain, psychological burden, and/or premature death (all of which take an invisible toll on our national economy and security).

-Education System: “Education then, beyond all other devices of human origin, is the great equalizer of the conditions of men, the balance-wheel of the social machinery” -Horace Mann.

Regardless of race, education is perhaps the only tool with which we can break the shackles of inherited poverty, bigotry and social ignorance. Police, the protectors of the status quo, have been funded to the brim where education has suffered greatly. An educated public goes against the rich agenda, less critical thinkers are more easily swayed, pacified, exploited or muted. It is perhaps by self-reinforcing design that schools, especially in lower income areas, are underfunded, understaffed and the teachers overworked and underpaid. Regarding the cost of obtaining a University education, it is as if “indentured servitude” has been re-packaged as “debt” and is being offered to those seeking the elusive “American Dream”. Education, much like healthcare, is a right and perhaps the highest duty of a modern democracy to its people if it is to remain in good health. Capitalism without the counterbalance of an educated public is a broken system that will eventually run itself into the ground. It is often the case that good quality teachers can obtain higher paying work, and some do indeed blamelessly exit academia for the promise of better pay. The compensation systems of America must be fixed to reduce teacher attrition and ensure that high quality professionals are recruited and retained in these critical positions. Schools must be better funded, and teachers must receive compensation that aligns with the massive benefits they provide society. These will strengthen our national security as well. Nowadays, information can go viral via the internet and social media, it has never been more pertinent that a government inoculate its citizens against both internal or external propaganda and misinformation, education and critical thinking skills are the vaccine.

Investments in education pay off greatly over time, and only through education can we heal the cancers of ignorance, bigotry and inequality that have metastasized across most facets of our systems and institutions.

-Underfunded Regulators: Regulators and regulatory bodies exist for the public benefit. The recent trend in defunding, underfunding, and weakening of regulators such as the US Environmental Protection Agency (EPA) is the result of concerted efforts by the wealthy, the media propaganda machines, and corporations they control. Weak regulatory bodies cannot efficiently protect the public from exploitation. Regulatory bodies such as the EPA, CDC, IRS, SEC, DOL, FCC and CFPB must be appropriately funded and their systems modernized moving forward. It’s odd that police departments are funded to the brim while these overseeing regulatory bodies starve, and I am left wondering if this is a coincidence.

-Tax the Rich: The 1% and the corporations they control must pay higher taxes. The rich have access to accountants, lawyers and tax specialists which enables them to navigate our convoluted taxation system unscathed using loopholes and unfair strategies. For example, write offs on interest from debt taken on by companies but ultimately used for questionable purposes such as dividend payments or buybacks, or employee compensation in the form of company stock enabling write off of the difference in value between when that stock is issued and when it is ultimately sold, tax havens, shell companies, and the list goes on. Those with less resources are often forced to pay more (relatively) than their billionaire class counterparts. This problem is compounded by the strategic and systematic incentives or pressure placed on politicians by the 1% to introduce loopholes, weaken existing protections, and defund/underfund the regulators who exist to thwart or prevent these tactics (well-funded political opposition and regulators such as the IRS and SEC go against the rich agenda).

Oligarchs, their cronies, financial institutions and the corporations they control have perverted the once great concept of the “invisible hand”. They intervene in our democratic processes to further self-interests at the expense of the public benefit. We are living in a system that gives us the illusion – or semblance, if we are lucky – of justice, opportunity, class mobility, and the “American Dream”. While some of these are achievable through mountainous effort, the struggle in achieving these are unbalanced depending on factors that should be inconsequential such as skin pigment, zip code of birth, and social connectedness. These coercive instruments of oppression propagated throughout our engineered society have kept us busy keeping each other compliant, fighting amongst ourselves over scraps – and promotions, grinding for our next paycheck and inhibiting our drive for vindicated civil disobedience – lest we go hungry or homeless, and have placated us with bread and games to shroud the connected few who rob us through the camouflaged systems they proliferate. We are attempting to climb an ever-growing cliff where the rich have reached the top, raised the ladders, and continue pouring grease along the slopes. Main street is not wall street. Greed has severed the relationship between market performance, our country’s production, and the average American’s plight. The rich get richer by, among other things, their ease of access to newly printed money (debt) before the wider population increasing their purchasing power before inflation takes hold, allowing them to purchase and accumulate stocks and assets at a discount (Cantillon Effect) – further increasing their political influence which they use to further self-serving interests. This has resulted in a financial and social bubble that is bound to burst violently without intervention. We, the 99%, do not fairly share in the fruits of our labor, yet we are consistently forced to bear the burden of corporate and institutional shortsightedness, greed, gambling and failure.

The 1% have their perverted hands wrapped around our necks. We can’t breathe.

Save our Earth – Solve Climate Change

Free the Invisibly Oppressed 99%

Black Lives Matter

R.I.P. George Floyd

Respectfully yours,
IL0d+pVNGjrWLGdkBM3qCHurLj66eKQOqLMbmuZsJSfqMnsH8fG4ilASmUksMx7s51MVByBNfOVWAjeEGVkhtf8=

Dear 99%,

Subject: Problems with the United States of America et al.
From: 1ECwTbMCBsD9irW2DwnNzZydqFNBqvKfh3
To: The 99%
CC: Senator Bernie Sanders, President Barack Obama, Dave Chappelle, Bill Gates, The World
June 15, 2020

There are two ways to conquer and enslave a nation. One is by the sword. The other is by debt.
-John Adams

Dear 99%,

I am a proud American and I am grateful for the liberties we enjoy in the United States of America.

I am a simple man who is not particularly versed in the areas of politics of which I speak. These musings are based on my own observations. I certainly do not have all the answers, I throw these ideas out in hopes that they may stimulate thought with the aim of improving America for all Americans. Keeping silent is unpatriotic.

A light has been shined on the American police problem, but it is just the tip of the iceberg in what are numerous deeply rooted issues concealing entrenched, multifaceted systems of oppression meant to indiscriminately maintain the status quo over the 99% regardless of skin pigment.

What if there was no pandemic? What if there was no video? Would we still be out in the streets demanding justice for George Floyd? Were there not numerous videos of police cruelty before George Floyd? How long have these injustices been going on for? And why are we only now protesting with such vigor?

I believe in part, the shutdowns caused by the pandemic have freed peoples’ spirits. With a large portion of the population currently unemployed or underemployed, we are less exhausted from our jobs – sometimes multiple jobs – grinding away our minds and bodies; we have the time and energy to engage in extraprofessional activities such as marching for justice. People have been less able to turn a blind eye to these unpleasantries by distracting themselves with bread and games amid COVID-19. It is unfortunate that such a series of events must occur to rightfully enrage and mobilize the American population against such blatant inequality and injustice. These events have helped raise awareness about some of the hardships imposed on and endured by disenfranchised American victims of racism and the cycle of poverty. Moving forward, Americans must be vigilant in speaking out against inequality and injustice even when presented with more convenient options, otherwise these events will end up being just another blip in the historic record without catalyzing lasting transformations. George Floyd was not the first person to be lynched by police, and sadly, he will not be the last unless real change happens which will involve reforms to the political, educational, healthcare, financial and enforcement systems of America.

-Voting is taxing: The people with the most to gain from voting out incompetent or corrupt politicians are often the ones who can least afford to do so. Those living in poor areas of the United States have less resources to carry out the task (time, money, transportation, energy, patience, hope, etc). These obstacles work to inhibit travel to and from the voting polls and encourage apathy and inaction. Keeping poor communities tired and hopeless is a tactic in maintaining the status quo via the suppression of dissenting voices in government. Some have actively engaged in activities ensuring it is difficult for poor communities to vote in mass – this is an affront to our democracy. Election voting days should be made a national holiday (including primaries, if these archaic rituals are not revamped altogether). Expand and facilitate mail in voting. Implement ranked choice elections – this will help solve our two-party problem where voters often feel like they are choosing between two puppets serving the same master. Russia is not the only country meddling in our elections. The politicians who serve us are also guilty of the same (e.g. Gerrymandering – Electoral boundary manipulation by those with enough money, power, and lack of morals). There is hope for sustainable justice but it starts with voting, #Vote4Floyd.

-End the Fed: The Federal Reserve (The Fed) is America’s central bank with questionable oversight whose name is derived to invoke and imply authority of the federal government and therefore (at least nominally) accountability to, the American people. On paper, the Fed answers to congress, which in a perfect world would be a representative body, of the people and for the people, this is not the case. Educate yourselves on the Federal Reserve and its role in previous greed driven economic catastrophes. End the Fed, stop feeding the oligarchs and the connected cronies they implant into the systems, corporations, and banks which directly benefit from the money these crooks print out of thin air at our expense. Financial institutions need more oversight, and we should be searching for solutions or alternatives. Perhaps we should gradually #OptOut.

-Banks and Lending Practices: The US banking system operates on a fractional reserve system. This requires banks to keep only a tiny fraction of the money they lend on reserve, the rest of which they may loan out and charge interest on. Banks literally make money using our money, and still assess overdraft fees and monthly maintenance fees from those who barely have enough to get by as it is (and who cannot afford maintaining minimum balances as they do not possess regular income, or are busy living paycheck to paycheck). These fees might as well be called “poor taxes” as it appears being poor is expensive. We should all vote with our money by removing it from these banks and only doing business with less greedy fee free credit unions. Historically, the banking/financing sector has been racist and biased in their distribution of opportunity to the public favoring the rich living in better neighborhoods. This is a problem, how can historically disadvantaged people for example, raise capital to start businesses, obtain reliable transportation, buy houses in better neighborhood so that their children might benefit from better education all when they are caught in the cycle of poverty (or worse yet, also affected by blatant or backdoor racism)? Socioeconomically induced inequitable access to opportunity is a massive problem in the United States and this affects the 99%, including the middle class. The richer the family you are born into, the higher the quality of education you are likely to receive, the more connected you are, the more access to resources and support for stepping into the world “on the right foot”, obtaining stable income, building/maintaining a higher credit scores which translates to lower interest rates, and in general, better opportunities. From a purely business standpoint, it is then quite understandable that banks would want to obtain the business of these less risky, rich desirables while treating others as low priority clientele (likely with algorithms to “justify” doing so). The terms of credit lines and loans extended to those from disadvantaged communities should be examined (e.g. payday loan offices that plague these communities – or credit cards with outrageous APRs awarded to those from these communities lacking the education to use them wisely leading to the destruction of their credit scores and therefore justification from banks to deny opportunity to these individuals later in life thereby inhibiting class mobility). Lenders and banks have gamed and weaponized their monetary instruments (e.g. predatory credit cards and loans) against disadvantaged communities by enabling the less financially literate to dig themselves into financial holes from which they may never recover; this is a herding mechanism which relegates and confines the disadvantaged to certain neighborhoods (further perpetuating the cycle of poverty).

-Corporations: Corporations and their leadership often lack morals, and strive to make money at any cost including human wellbeing, and our environment. The tactics they use are at times reprehensible, deceitful, fraudulent, inhumane and/or illegal. For example, Wells Fargo [downright fraud – opening of fake bank accounts without client consent], Nestle [morally reprehensible – mining our aquifers for water without regard for long term sustainability], Bayer [inhumane – knowingly distributed/offloaded HIV contaminated blood products leading to the infection of thousands]. Notably, CoreCivic, a reprehensible and inhumane for-profit prison corporation that spends millions lobbying for mandatory minimum sentences for low-profile crimes to keep prisons supplied with “livestock” thereby keeping taxpayer dollars rolling in. America’s incarceration system disproportionally affects those from disadvantaged communities who are victims and products of the circumstances they are born into. This does not excuse illegal behavior but ultimately, rehabilitation should be the goal of the system. This is counter to a “for-profit” business model whose profitability is directly dependent on the number of inmates locked up. There is a clear conflict of interest with a system that lobbies against decriminalization of substances such as marijuana just because it would reduce inmate numbers and be bad for their business (something they have done). Private for-profit prisons are not interested in rehabilitating inmates, they are interested in return customers and a packed house. It is the disadvantaged who are disproportionally fed into this corporate money-making machine that is the American incarceration system which is funded by tax dollars.

The list of corporate wrongdoing goes on and it is a common theme among massive businesses, they exploit consumers, taxpayers and our land’s natural resources leaving a wake of generationally persistent destruction. The consequences they face end up being a slap on the wrist compared to the massive profits they generated by committing these acts. The paltry fines they face from regulators, and the class action lawsuits that follow do not deter the companies from these practices. The leadership rarely face any real repercussions even when they themselves directed or had full knowledge of what was going on. Arbitration clauses in contracts should be outlawed. The protections given to corporations that shield their leadership from consequences should be examined and corporations need to start being held accountable for their corrupt practices in proportion to their revenue.

-Legal Systems: Lady justice might be blind, but the scales can be tipped with piles of cash. America’s legal system heavily favors the rich who can afford to obtain better lawyers and expensive drawn out litigation processes. Even if someone is fighting the good fight, and is in the right, they can still lose cases or be forced into settling in battles of attrition where the rich and powerful, and corporations possess a massive advantage. A common tactic is to draw out litigation making it costly mentally and financially to whoever dares using the legal system against an offender higher in the food chain than they are. How is this justice? This applies to all faces of the legal system (e.g. criminal justice, lawsuits, intellectual property, etc.). For example, the intellectual property system which is meant to enable creative individuals to pull themselves up by their bootstraps is skewed in favor of the individuals and corporations who can afford to appropriately pursue intellectual property prosecution. Justice, fair compensation, and capitalization of creativity favors those with deeper pockets.

-Politicians: Our government is supposed to be comprised, of the people, and for the people, but it is often the case that politician’s voices and consideration can be bought through donations and other questionable but legitimized means of fundraising (e.g. super pacs). Mercenary politicians and lobbyists who work to further the agenda of the rich, powerful, and corporations are for example, negatively influencing consumer protection laws, regulator funding and efficacy, and opening holes for the exploitation of taxpayers and consumers to the detriment of the wider public benefit. For example, Comcast paid lobbyists to push for the repeal of net neutrality which protected consumers from selective throttling of data by internet service providers. Comcast effectively possesses a monopoly in many parts of the United States but this repeal of net neutrality has given them absurd power and influence over what information people can and cannot easily access over the internet. This power is ripe for abuse and can in one hypothetical example, potentially be used to influence elections by controlling what websites certain localities and demographics can and cannot easily access over the internet (e.g. CNN vs Fox). This can be used to bias the population’s sentiment and vote via reinforced exposure to different media propaganda machines.

As a concrete hypothetical example, let’s say two primary news websites exist which are consumed by a country’s population (news websites “A” and “B”). One day, Comcast decides that all news websites will be throttled because they use too much bandwidth. News website “B” then signs a contract with Comcast for speeding up their website. Now it takes news website “A” longer to load compared to website “B”. Some people might turn to website “B” for their news consumption which might influence their political outlook depending on that website’s political compass and the lens through which they present information. In an even more heinous hypothetical example, let’s now assume that news website “B” is favored by Comcast for its political compass and lens. Adding fuel to the fire, Comcast shareholders also own shares in website “B” and therefore are vested in its outcompeting of website “A”. Comcast then offers website “B” a contract with favorable terms, while effectively embargoing website “A” by deadlocking contract negotiations and making it unfeasibly expensive to unthrottled their website. The net neutrality protections which were repealed have far reaching implications, and I am left wondering if the politicians in charge were ignorant to the complexities, or if they knew exactly what they were doing. I do not know which is worse. This venal power is corrosive, no democratic government, much less a monopolistic for-profit corporation, should wield this much influence.

-Media: Recently, media companies have been less concerned with the dissemination of facts and are more interested in obtaining viewership and readership through cheap clickbait and sensationalized headlines. Media companies such as those controlled by the billionaire class are swaying public opinion and votes towards self-serving political agendas. They are also guilty of selectively covering or ignoring stories depending on their political aims. For example, media did not fairly provide Senator Bernie Sander with coverage during the Democratic primaries, which may have affected his performance, and therefore our elections. Fair, unbiased reporting is a dying breed in a world where the oligarchs own the media, this is counter to having an informed voting public. Consolidation of media companies has resulted in their politicization. The often politically polarized lenses these companies spin stories and report through is driving a wedge between Americans.

-Health Care System: Our healthcare system is a disaster, it’s a demonstration of what happens when corporate greed goes unchecked. Healthcare is a human right and a first world government’s responsibility to all its citizens. It is not a luxury to be enjoyed by those who can afford it and should not be the number one cause of bankruptcies in America. The American healthcare and insurance system is complicated, expensive, bloated and corrupt. For example, pharmaceutical companies collude to raise and fix prices for life saving medication. Some companies offer discounts for their drugs which they use as deductions on taxable income, thereby avoiding taxes on income from already extortionate medication. The insurance companies are all too eager to find any reason, legitimate or not, to deny claims for not following obscure or deviously complicated fine print. Hospitals charge enormous amounts by default hoping that customers and insurance companies foot the bill, sometimes reducing the bills only upon customer inquiry. Unfortunately, these things have become the modus operandi of the healthcare system.

America’s healthcare system is contributing to the younger generation’s bleak outlook of the future. Not having a stable healthcare system affects people psychologically and has consequences beyond the immediately measurable economic impacts often cited by those against the implementation of social healthcare programs. People from the disadvantaged side of America’s wealth wall are disproportionately and consistently afflicted by curable diseases because they cannot afford to go to a doctor before a small problem turns into a larger one. This is yet another invisible tax on the disadvantaged who pay the price in crippling debt or bankruptcy, lifelong pain, psychological burden, and/or premature death (all of which take an invisible toll on our national economy and security).

-Education System: “Education then, beyond all other devices of human origin, is the great equalizer of the conditions of men, the balance-wheel of the social machinery” -Horace Mann.

Regardless of race, education is perhaps the only tool with which we can break the shackles of inherited poverty, bigotry and social ignorance. Police, the protectors of the status quo, have been funded to the brim where education has suffered greatly. An educated public goes against the rich agenda, less critical thinkers are more easily swayed, pacified, exploited or muted. It is perhaps by self-reinforcing design that schools, especially in lower income areas, are underfunded, understaffed and the teachers overworked and underpaid. Regarding the cost of obtaining a University education, it is as if “indentured servitude” has been re-packaged as “debt” and is being offered to those seeking the elusive “American Dream”. Education, much like healthcare, is a right and perhaps the highest duty of a modern democracy to its people if it is to remain in good health. Capitalism without the counterbalance of an educated public is a broken system that will eventually run itself into the ground. It is often the case that good quality teachers can obtain higher paying work, and some do indeed blamelessly exit academia for the promise of better pay. The compensation systems of America must be fixed to reduce teacher attrition and ensure that high quality professionals are recruited and retained in these critical positions. Schools must be better funded, and teachers must receive compensation that aligns with the massive benefits they provide society. These will strengthen our national security as well. Nowadays, information can go viral via the internet and social media, it has never been more pertinent that a government inoculate its citizens against both internal or external propaganda and misinformation, education and critical thinking skills are the vaccine.

Investments in education pay off greatly over time, and only through education can we heal the cancers of ignorance, bigotry and inequality that have metastasized across most facets of our systems and institutions.

-Underfunded Regulators: Regulators and regulatory bodies exist for the public benefit. The recent trend in defunding, underfunding, and weakening of regulators such as the US Environmental Protection Agency (EPA) is the result of concerted efforts by the wealthy, the media propaganda machines, and corporations they control. Weak regulatory bodies cannot efficiently protect the public from exploitation. Regulatory bodies such as the EPA, CDC, IRS, SEC, DOL, FCC and CFPB must be appropriately funded and their systems modernized moving forward. It’s odd that police departments are funded to the brim while these overseeing regulatory bodies starve, and I am left wondering if this is a coincidence.

-Tax the Rich: The 1% and the corporations they control must pay higher taxes. The rich have access to accountants, lawyers and tax specialists which enables them to navigate our convoluted taxation system unscathed using loopholes and unfair strategies. For example, write offs on interest from debt taken on by companies but ultimately used for questionable purposes such as dividend payments or buybacks, or employee compensation in the form of company stock enabling write off of the difference in value between when that stock is issued and when it is ultimately sold, tax havens, shell companies, and the list goes on. Those with less resources are often forced to pay more (relatively) than their billionaire class counterparts. This problem is compounded by the strategic and systematic incentives or pressure placed on politicians by the 1% to introduce loopholes, weaken existing protections, and defund/underfund the regulators who exist to thwart or prevent these tactics (well-funded political opposition and regulators such as the IRS and SEC go against the rich agenda).

Oligarchs, their cronies, financial institutions and the corporations they control have perverted the once great concept of the “invisible hand”. They intervene in our democratic processes to further self-interests at the expense of the public benefit. We are living in a system that gives us the illusion – or semblance, if we are lucky – of justice, opportunity, class mobility, and the “American Dream”. While some of these are achievable through mountainous effort, the struggle in achieving these are unbalanced depending on factors that should be inconsequential such as skin pigment, zip code of birth, and social connectedness. These coercive instruments of oppression propagated throughout our engineered society have kept us busy keeping each other compliant, fighting amongst ourselves over scraps – and promotions, grinding for our next paycheck and inhibiting our drive for vindicated civil disobedience – lest we go hungry or homeless, and have placated us with bread and games to shroud the connected few who rob us through the camouflaged systems they proliferate. We are attempting to climb an ever-growing cliff where the rich have reached the top, raised the ladders, and continue pouring grease along the slopes. Main street is not wall street. Greed has severed the relationship between market performance, our country’s production, and the average American’s plight. The rich get richer by, among other things, their ease of access to newly printed money (debt) before the wider population increasing their purchasing power before inflation takes hold, allowing them to purchase and accumulate stocks and assets at a discount (Cantillon Effect) – further increasing their political influence which they use to further self-serving interests. This has resulted in a financial and social bubble that is bound to burst violently without intervention. We, the 99%, do not fairly share in the fruits of our labor, yet we are consistently forced to bear the burden of corporate and institutional shortsightedness, greed, gambling and failure.

The 1% have their perverted hands wrapped around our necks. We can’t breathe.

Save our Earth – Solve Climate Change

Free the Invisibly Oppressed 99%

Black Lives Matter

R.I.P. George Floyd

Respectfully yours,
IL0d+pVNGjrWLGdkBM3qCHurLj66eKQOqLMbmuZsJSfqMnsH8fG4ilASmUksMx7s51MVByBNfOVWAjeEGVkhtf8=

Income of 25k to 275k in 7 years

5 year lurker.. first time poster. There have been a number of posts recently of very fortunate people which have been received with everything from incredulity paired with despair to heartfelt congratulations. What a spectrum of emotion! Accusations of humblebragging have reverberated around the sub and it’s altogether been a little too salty for my liking. Let’s start with the basics:
Graphs
Married, no kids. 30(M), 29(F) Income: $375k. $275k (me), $100k (DW) Net worth: $610k Home equity: $220k Semi-liquid: $390k. Spread across taxable and non-taxable. FIRE Number: $2-2.5 million including HE.
Now that I’m done with my humblebrag, let’s look at what portions of my experience and perspective I can share. If I can do this from my starting point, so can most of us. I am under no doubts that luck has played a large role in my success, but there are number of decisions and risks I took that have been equally important. A number of the seemingly insurmountable barriers that people described are just that.. barriers. You can do it too!
The above is a one-dimensional view. Let’s look at the barriers on the way:

Lower wage job ($25k) in a lower paying country that the US (UK). Check. Degree with poor job prospects (manufacturing). Check. Lower (relatively) income ($75k) in a HCOL (SF Bay area). Single income couple in said area. Check. Student loan debt ($70k). Check Industry that is stagnant, losing jobs and lower paying (manufacturing). Check.

Getting a job I graduated in the middle of the recession (2010). TBH it was the best thing that happened to me. Prior to 2010 I was bottom of my class. The raw, primordial fear that the recession introduced into my life changed me from a skirt chasing Counter Strike: Source addict to one of the library’s most studious residents. I had mistakenly studied manufacturing engineering in university, oblivious to larger global trend of automation and the exodus of manufacturing jobs to low cost locations. It was hard, really hard to get a job. My first job paid decent money, $25k, all things considered. I took any advantage I could get to get it- I had to travel for my interview. When I checked into my hotel room, the receptionist told me that my “colleagues” had already checked in. Thinking on my feet, I asked her who they were and what rooms they were in. Turns out, 2 were there to conduct interviews and were in the bar. I dumped my stuff in my room and headed to the bar. We all joked about what a remarkable coincidence it was when all three of us ended up chatting for a few hours! 100% this is why I got the job over the other 200 applicants- I got to connect with them, on a human level, outside of the interview process.
Finding a profitable area in a waning industry My early professional life was plagued by a sense of impending doom. I knew I had to do something differently if I wanted to avoid building a career in a dead end industry. Despite my efforts, I couldn’t get into a different industry, so I started to look into the areas of manufacturing less likely to go to a cheaper location. Anything where the value is derived from IP (Pharma, medical devices), government contracts (defence) or major capital equipment (trains, planes). I landed a job in medical devices, $35k at a US multinational. At this stage of my life, I lived on $10k a year with a savings rate of ~60%. I didn’t heat my room, never had AC, I never ate out. My food budget was $25 / week for groceries and $20 / week for subsidized meals at work. Video games kept me sane. I studied at night time to pick up certifications in statistics and business to broaden my skillset.
Engineering a relocation In 2012 I went on a business trip to the US. I was dumbfounded. My peers in the States were earning 3x what I was and paying less tax. Not only that, but progression was fast! There were managers and directors in their thirties. I was sick with envy. It was a visceral feeling that hijacked my emotions for weeks! And like that, I decided I HAD to go the US. It was the only option for me. I applied for every single posting I could find in my company and was uniformly rejected. New grad with 2 years’ experience? No chance. Then I found out that an important VP was visiting our plant. I begged my friend, an administrative assistant, for his schedule. She eventually relented. Pro tip: Admins are gatekeepers and have huge amounts of important information. Always be on their good side! I researched his career and then “happened” to be in the elevator at the same time as him and delivered an elevator pitch. Just like that, he scheduled a follow up call with me, which led to some other calls. 3 weeks later I left everything behind and landed in San Francisco airport. Salary was $74k.
Stuck in rut, but still saving Fast forward 3 years and I’m horribly unhappy. The manufacturing site I’m in has 30%+ attrition and has laid people off. It is disproportionately staffed by low paid visa workers who cannot leave. Compensation is generally 20-40% below market. Thankfully, I did not sacrifice my life for work and I’m in a very happy and meaningful relationship with my future wife, who kept me sane. We were living together and subsisting on one income as she was in graduate school. Total expenses for 2013 and 2014 were $40k and $42k respectively. This was very challenging in the Bay Area. I don’t know how parents support children on that level of income here. They must be budget ninjas! We had a good deal on rent ($1,650 for a studio) which we got by being the first at every showing (usually 7AM), and being willing to sign a lease on the spot.
We got married ($16k, 80 people). Happiest day of my life. $16k was a small price to pay for such an amazing day. We made all the decorations and married at a restaurant- cheaper as their business model is to provide food and seating together. Surprising how expensive it is to pay two different companies for each separately. My biggest regret was paying the included 18% service fee but leaving no additional tip. There’s being frugal and there is being cheap. I cringe every time I think of it as the staff were fantastic. DW had $70k of debt from her undergrad and master’s degrees. Refinanced at 6.8% and put everything we could towards it. DW got an excellent job in healthcare, income is relatively fixed around $100k for.. well forever. Her job and income are much more stable than mine, which is nice.
Know your worth and take risk Green card came through (did the paperwork ourselves to save $3k+ in lawyer’s fees) and I started job hunting. I was desperate to leave. I was shouted out, called names, lied to and promised a promotion that never came. I knew I was in the hottest job market in the country, one where big risk is rewarded and failure is accepted. I found a company that I really liked the look of. Product was good, financials were healthy and growth prospects were excellent. I found a contact who worked there and got her to refer me instead of me applying. Why? Interviews are an extended negotiation. Having a narrative that “they found you” gives you much more leverage than the other way around. Interviewed, they made me an offer as a level individual contributor with a 20%+ pay increase. I turned it down. What? Yup, I turned it down. When you are negotiating, it is important to know your worth. We had a NW of ~$140k at the time, so I knew I could quit my job and be unemployed if I had to so I took the gamble they’d offer me something better. Two months passed and they rang me back to say they had changed their organization structure around to create a management position for me and offered me the job, I took it. Total comp that year for me was $130k.
Jumping ahead to now, I’ve been through two promotions and the company has done very, very well. Salary is $155k, the rest is bonus and equity. Still in manufacturing, compensation can be good in any industry. It’s just a question of where (or how high) you have to go in a company to find it. Average compensation sucks for most in manufacturing.
TL;DR and general advice:
Everyone reading this has decent analytical and financial skills (thank you FIRE community). These are real skills, parlay them into your work.
Learn to read a balance sheet and P&L account. Be mindful of who you work for by understanding their product, market and financials. It is much, much easier to progress in a growing company.
Focus on value and impact. Don’t focus on the task you are doing. Seems simple, but it is amazing how many people do something because they’ve been told to do so without understanding what they are trying to achieve. Pursue further education to do so.
Luck is important. The ability to recognize opportunity and take advantage of it is even more important. Or “creating” your own lucky situations. See above examples.
Relocate if necessary.
Make sure your spouse has shared values. Mine does and everything we do is a team effort!
No barriers are insurmountable, it is just a question of it of what it takes to overcome it and if it’s worth it. If you think you can’t do something, you can’t.
Edit: Some thoughts on skills and doing MSc's or Phd's. True value tends not to come from deep knowledge of one skill, but the intersection of several. It is much rarer and you can add much more value as a result. Rather than become an expert in something, I've gone around and picked up a few complementary things and built an extremely competitive skillset.
Edit: Appreciate all the kind comments. I'm just a regular dude, I'm not anything special. I never, ever thought I'd break 100k in income. I use to despair at how unachieveable the salaries I'd see in this sub were. Regular people can chase FIRE and be successful. That's what this community is about. Anyone can do it!

Legal issues surrounding using someone's bank account WITH permission

Telegraph article regarding tax on Bitcoins

http://www.telegraph.co.uk/tax/capital-gains/do-have-pay-tax-bitcoin-profits-will-happen-dont/
Paywalled article so i have copied and pasted:
The price of Bitcoin has fluctuated wildly this week, gaining 15pc in less than 24 hours before falling by 17pc in under six hours.
Despite the wild ride, anyone who invested before this week has made a gain. The digital currency has risen by more than 1,000pc this year, and early backers have made bigger sums still. A £100 investment five years ago would be worth around £75,000 today.
Many took the opportunity to bank profits as the price of the digital currency soared past the $10,000 mark – although exchange crashes have caused difficulties for many attempting to sell.
With profits, comes tax - but how exactly does the taxman treat profits from Bitcoin and other cryptocurrencies?
Your Bitcoin gains are likely to be taxable
HMRC is not keeping up with the pace of Bitcoin fever.
The last guidance it issued on the taxation of cryptocurrencies was more than three years ago in March 2014 - when the price of Bitcoin was a mere $630.
That guidance is not clear. It says that cryptocurrency gains and losses fall under the capital gains tax system, but also that if a transaction is speculative enough to deemed "gambling", it may not be subject to tax - and losses would not be claimable for tax purposes either. This, it says, is decided on a case-by-case basis.
Etienne Wong, a barrister specialising in tax, explained that at the time of HMRC's guidance, the cryptocurrency market was in a much earlier phase.
"I don't think HMRC knew what it was doing when it wrote the gambling exemption. At the time, my opinion is that it was mainly concerned with preventing people claiming huge losses," he said.
A number of questions clearly remain - namely, what exactly constitutes a "highly speculative transaction"?
There is also the question of whether an individual is deemed to be a "trader", in which case profits could be covered by income tax instead.
Writing in Tax Journal, Robert Langston of accountancy firm Saffery Champness, identified three potential tax treatments for cryptocurrency profits: trading profits falling under income tax; gambling transactions which are not subject to tax, and capital gains subject to capital gains tax.
Starting with the first option, Mr Langston explained that frequent, short term cryptocurrency transactions could fulfill a number of the "badges of trade" required to establish if someone is trading. However, he said based on legal case law, it is "very unlikely that cryptocurrency profits would be treated as trading profits", although he did not rule it out.
This remains a matter of interpretation. Mr Wong said that it would be relatively easy to argue someone dedicating significant time to short term cryptocurrency investments was in fact trading for tax purposes.
Next, could the purchase of cryptocurrency constitute a bet? Mr Langston explained that as cryptocurrency markets are now more established - and many investors have strategies that do not rely solely on chance - it is "difficult to see how the profits on mainstream cryptocurrencies [such as Bitcoin] could be seen as gambling profits".
He added: "There may conceivably be some cryptocurrencies in which the markets are random, and therefore the profits could be treated as gambling."
Even if it was deemed a bet, he explained that unlike gamblers who are betting in cash, cryptocurrencies remain a chargeable asset for tax purposes.
That leaves the third option: capital gains tax.
Mr Langston said: "HMRC's guidance pre-supposes that cryptocurrencies can be chargeable assets for capital gains tax purposes. This is probably correct; they are intangible assets which carry certain rights, and can be bought and sold.
"The profits you make on cryptocurrency are therefore likely to be subject to capital gains tax."
How could HMRC know about my Bitcoin profits?
To start with, if you are buying Bitcoin through a UK domiciled company, HMRC could require it to share information about customer holdings.
Additionally, the appearance of a large sum of money in your bank account from the sale of Bitcoin is likely to raise questions - particularly as the payment will likely appear on your bank statement as being received from a cryptocurrency firm.
HMRC’s new “snooper computer” system collects information from a wide range of finance firms including banks and building societies. If it has any reason to investigate your tax affairs it will seek to identify large payments and ask questions about the origins of that money.
In the same way, it might also spot a payment to a cryptocurrency company in the first place.
A HMRC spokesman said: "HMRC has wide-ranging information powers which it uses in appropriate circumstances."
There is another, more convoluted way it could find out, in theory.
The Bitcoin “ledger” – its record of transactions – is public. While a transaction is linked to an electronic address, rather than a name, it is not truly anonymous.
Online services providing Bitcoin “wallets” or firms taking payment in Bitcoin often ask for personal information. Many companies distribute this personal information to third parties for a variety of purposes, such as advertising.
If your electronic pseudonym became linked to your identity, your entire Bitcoin history would be free for all to see - including the taxman.

Matched Betting | An Introduction

(UK) Professional poker - Not required to pay back student loan, should I pay anway?

My own experience with money making programs in the UK.

My only source of income is not taxable - is my interest from savings tax free as well?

is gambling income taxable uk video

Income From Gambling Taxable Uk, free online games hidden object, ifma casino night, are betting shop roulette machines fixed Taxable Gambling Income Gambling income is almost always taxable income. This includes cash and the fair market value of any item you win. By law, gambling winners must report all of their winnings on their federal income tax returns. Gambling and betting was not taxed effectively in the UK for most of history. Unlicensed gambling was causing such a legal and moral problem to the Victorians that the parliament of the time issued the Gaming Act of 1845. This made a wager unenforceable by law and therefore rendered all contracts between bettor and bookie invalid. The UK is one of them. Are Gambling Winnings Taxable in the UK? The short answer is no, at least not for players. No matter how much money you make in a casino, it is yours to keep. The government won’t take a penny of it. For many people, especially those not from the UK, this may seem strange. After all, why would any government, especially the one notoriously short on cash, give the punters a free pass? The answer is not that simple, but it boils down to the fact that there are easier That’s right, 0% of your gambling winnings are counted as taxable income in the UK! It may seem a bit too good to be true – after all when does the Government turn down an opportunity to take a little extra tax? It is completely true though; the tax burden from gambling is shouldered by the operators, rather than the players. However, it's essential that you still Income from gambling taxable uk The minimum deposit for other offers that require a deposit will be clearly communicated. Maximum bonus offered will be communicated in the details of each specific promo. Prize pool: 100% bonus up to £50 + 50 spins on Twin spin. The UK taxes companies that offer online gambling services to people living in the UK, whether the company is located in the UK or Gambling and Taxation Essentially betting is ‘tax-free’ in the UK – the professional gambler is outside the scope of tax. This is confirmed in HMRC’s Business Income Manual at BIM22015. The basic position is that betting and gambling, as such, do not constitute trading. So, gambling from a player’s perspective is always free within the UK. However, in other hotspot locations around France, the USA, and Macau, you will need to pay up to 25% on any of the earnings that you ultimately make for yourself. That can definitely equate to quite a lot, especially if you are categorized into the higher band of tax percentage, based on your winnings! Gambling which is regulated by the gambling commission is not liable for tax. As many others have stated the tax is paid by the bookmaker/casino/poker room/bingo site etc... However, certain spread betting activity which is regulated by the FSA (rather than the gambling commission) actually IS taxable if it is your primary income. If it is your Gambling in the United Kingdom is regulated by the Gambling Commission on behalf of the government’s Department for Culture, Media and Sport (DCMS) under the Gambling Act 2005. This Act of Parliament significantly updated the UK’s gambling laws, including the introduction of a new structure of protections for children and vulnerable adults, as well as bringing the burgeoning Internet

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