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Excise Tax Audit Essentials: Dubai Business Owners’ Must-Knows
Navigating through the intricate waters of excise tax audits in Dubai can be a daunting task for any business owner. The mere mention of an impending audit can often evoke anxiety and uncertainty. However, fret not, as we are here to guide you through a comprehensive roadmap for excise tax audit preparation tailored specifically for Dubai businesses.
Understanding the Audit Process
visit for more info . https://www.justgetblogging.com/tax-audit-essentials-dubai-business-owners/
#excise tax services#vatcompliance#bookkeepingservicesdubai#tax consultants in dubai#dubaibusiness#excise tax audit
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Are you based in UAE and wondering what Excise Tax is and how it is calculated? Do you need to register for Excise Tax in UAE and how can you do that? At SAB Auditing, we have put together all the information you need to know about Excise Tax in UAE. We will explain what Excise Tax is, and how it is calculated. Who should register for Excise Tax, and how we can help you with the process? So, if you’re looking for a comprehensive guide to Excise Tax in UAE.
#tax taxagent dubai uae fta sab#tax agent in dubai#excise tax in uae#UAE Excise Tax#Excise Tax Services
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Top Audit Firm in Qatar | Accounting and Bookkeeping
Discover GSPU, your trusted audit and accounting firm in Qatar! Our experienced professionals offer tailored financial solutions, innovative strategies, and expert guidance to help your business thrive. Get in touch today to streamline your financial processes and drive growth with confidence.
#accounting#taxes#success#startup#tax#tax accountant#property taxes#audit#taxation#taxcompliance#bookkeeping#accounting services#business growth#services#finance#business consulting#outsourced cfo services#corporatefinance#cybersecurity#excise tax
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AONE Accounting is a Professional Accounting Firm in Dubai that specializes in handling accounting tasks most efficiently. To avail of our services, get in touch with us now! For more information, you can visit our website https://aoneaccounting.ae/ or call us at 971 - 44221190
#VAT/Excise Tax Training in Dubai#Audit Assurance Services in Dubai#Business Valuation Services Dubai
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#Case laws related to Indirect Tax#Central Excise#Customs#Service Tax#Foreign Trade Policy#International trade
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EXCISE TAX SERVICES IN DUBAI, UAE
The United Arab Emirates (UAE) has implemented an excise tax on certain goods, including tobacco products, energy drinks, and carbonated drinks. The tax is applied at a rate of 100% on the taxable value of these goods. Which includes the cost of the goods, and customs duties. And other charges incurred in bringing the goods to the UAE. The excise tax in UAE is intended to reduce the consumption of these goods. Which are believed to have negative impacts on public health and the environment. The tax is administered by the Federal Tax Authority of the UAE. MASAR is an FTA approved Tax Agency in UAE and Provides the Best Excise tax Services in UAE
EXCISE TAX REGISTRATION SERVICES:
If you are a business that manufactures, imports or distributes taxable goods in the United Arab Emirates (UAE). You are required to register for excise tax with the Federal Tax Authority (FTA). Excise tax registration in UAE is a necessary step for businesses that are involved in the supply chain of taxable goods. Including manufacturers, importers, storage facility operators, and wholesalers. To register for excise tax. You will need to complete an online registration form on the FTA’s website. And submit it along with supporting documents. Such as your trade license and a copy of your passport. After your registration is approved, you will be issued an excise tax registration number. Which you will need to use when filing your excise tax returns and making tax payments. If you need assistance with the excise tax registration process, you can contact the FTA for guidance. You may also want to consider seeking the help of a tax professional or a legal advisor. To ensure that you meet all of the requirements and compliance obligations.
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Indirect tax updates
Catch up on important judgments/advance rulings passed under the Goods and Services Tax (GST), Customs, Central Excise, Service Tax, and Value Added Tax laws – explore the monthly issues below.
#deloitte india#Indirect tax updates#Goods and Services Tax#Service Tax#Central Excise#Value Added Tax laws
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Tax Advisors Dubai | Tax Consulting Services | Corporate Tax
Tax Advisors Dubai - with 15+ years of industry expertise, we offer professional tax consulting services and solutions to businessesWe work closely with our clients to develop personalized tax strategies that maximize their financial potential. We offer a full range of corporate tax services, including tax compliance, planning, & structuring, also advice on consolidations and investments.
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All you need to know about the FTA-Approved Tax agency in Dubai, United Arab Emirates
The UAE Federal Tax Authority (FTA) is responsible for implementing and administering tax laws in the United Arab Emirates. As part of its efforts to ensure tax compliance, the FTA approves tax agencies that can assist taxpayers with their tax obligations.
A tax agency is a company that provides tax-related services to businesses and individuals. These services include tax registration, tax return filing, tax accounting, and tax advisory services. To become an FTA-approved tax agency in Dubai, a company must meet certain criteria set by the FTA.
Some of the key requirements for becoming an FTA-approved tax agency in Dubai include:
Registration with the FTA: The company must be registered with the FTA as a tax agency.
Qualified staff: The company must have qualified staff with expertise in tax-related matters.
Compliance with tax laws: The company must comply with all tax laws and regulations in the UAE.
Technology capabilities: The company must have the necessary technology and systems in place to provide efficient tax-related services.
Financial stability: The company must be financially stable and have the necessary resources to provide tax-related services.
Once a company meets these requirements, it can apply to become an FTA-approved tax agency. The FTA reviews the application and conducts an assessment of the company's capabilities before granting approval. If a company is approved as an FTA-approved tax agency, it can provide tax-related services to businesses and individuals in Dubai and throughout the UAE. The company will also be listed on the FTA's website as an approved tax agency.
An FTA-approved tax agency in Dubai is a company that has been approved by the FTA to provide tax-related services to businesses and individuals in the UAE. To become an FTA-approved tax agency, a company must meet certain requirements and undergo an assessment by the FTA.
Introduction to FTA-Approved Tax Agency:
An FTA-Approved Tax Agency is a company that has been approved by the United Arab Emirates Federal Tax Authority (FTA) to provide tax-related services to businesses and individuals in the UAE. These services include tax registration, tax return filing, tax accounting, and tax advisory services.
To become an FTA-Approved Tax Agency, a company must meet certain requirements set by the FTA, such as registration with the FTA, having qualified staff with expertise in tax-related matters, compliance with tax laws, technology capabilities, and financial stability. The FTA assesses the company's capabilities before granting approval. Once approved, an FTA-Approved Tax Agency can provide tax-related services to businesses and individuals in Dubai and throughout the UAE. The company will also be listed on the FTA's website as an approved tax agency.
The FTA-Approved Tax Agency program is designed to ensure tax compliance and provide taxpayers with reliable and efficient tax-related services. By working with an FTA-Approved Tax Agency, businesses, and individuals can ensure that they are meeting their tax obligations while also receiving expert guidance and advice on tax matters.
What is Value Added Tax (VAT) in Dubai?
Value Added Tax (VAT) is a type of consumption tax that is charged on the supply of goods and VAT services in Dubai, United Arab Emirates (UAE). VAT is a tax on the value added at each stage of the production and distribution process. It is ultimately borne by the end consumer, but businesses are responsible for collecting the tax and remitting it to the government.
VAT was introduced in the UAE on January 1, 2018, at a standard rate of 5%. The VAT law applies to most goods and services, with some exceptions, such as healthcare, education, and certain financial services. Businesses with annual revenues exceeding AED 375,000 are required to register for VAT, while businesses with annual revenues between AED 187,500 and AED 375,000 can choose to register voluntarily.
Registered businesses must charge VAT on their taxable supplies and can reclaim VAT paid on their business expenses. They must also file VAT returns with the Federal Tax Authority (FTA) and remit any VAT due to the government.
VAT has become an important source of revenue for the UAE government, and it is used to fund public services and infrastructure projects. As such, compliance with VAT regulations is important for businesses operating in Dubai and throughout the UAE. FTA-Approved Tax Agencies can assist businesses with their VAT compliance obligations and ensure that they are meeting all the necessary requirements.
Why do you need an FTA-Approved Tax Agency?
There are several reasons why you may need an FTA-Approved Tax Agency in Dubai or throughout the UAE:
Ensure Compliance: An FTA-Approved Tax Agency can help ensure that your business is complying with all the necessary tax laws and regulations. This can help you avoid penalties and other legal issues related to non-compliance.
Save Time: Managing tax-related matters can be time-consuming for businesses, especially those with limited resources. An FTA-Approved Tax Agency can take care of your tax-related obligations, allowing you to focus on other aspects of your business.
Expertise: FTA-Approved Tax Agencies have qualified staff with expertise in tax-related matters. They can provide you with accurate and reliable advice on tax-related issues, helping you make informed decisions for your business.
Efficiency: FTA-Approved Tax Agencies have the necessary technology and systems in place to provide efficient tax-related services. This can help ensure that your tax-related matters are handled in a timely and accurate manner.
Avoid Mistakes: FTA-Approved Tax Agencies can help you avoid mistakes related to tax-related matters. This can help you avoid penalties and other legal issues.
Working with an FTA-Approved Tax Agency can help you ensure compliance with tax laws, save time, access expertise, increase efficiency, and avoid mistakes related to tax-related matters. It can be especially helpful for businesses that are new to the UAE tax system or those with limited resources.
How to choose the right FTA-Approved Tax Agency in Dubai?
Choosing the right FTA-Approved Tax Agency in Dubai is an important decision that can have a significant impact on your business. Here are some key factors to consider when selecting an FTA-Approved Tax Agency:
Reputation: Look for an FTA-Approved Tax Agency with a strong reputation in the market. You can ask for referrals from other businesses or check online reviews to gauge their reputation.
Expertise: Ensure that the FTA-Approved Tax Agency has qualified staff with expertise in tax-related matters. They should have a deep understanding of UAE tax laws and regulations.
Technology Capabilities: Choose an FTA-Approved Tax Agency that has the necessary technology and systems in place to provide efficient and accurate tax-related services. They should have the ability to handle your business's specific needs and requirements.
Service Offerings: Look for an FTA-Approved Tax Agency that offers a wide range of tax-related services, including tax registration, tax return filing, tax accounting, and tax advisory services.
Communication: Communication is important when working with an FTA-Approved Tax Agency. Choose an agency that has open lines of communication and is responsive to your needs and concerns.
Cost: Consider the cost of the services provided by the FTA-Approved Tax Agency. While cost should not be the only factor to consider, it is important to ensure that the fees charged by the agency are reasonable and transparent.
By considering these factors, you can choose the right FTA-Approved Tax Agency that can provide the necessary tax-related services for your business in Dubai and throughout the UAE.
Fines and penalties for non-compliance with VAT regulations in Dubai:
Non-compliance with VAT regulations in Dubai can result in fines and penalties. Here are some examples of fines and penalties that may apply:
Late Payment Penalty: If a registered business fails to pay the VAT due on time, they may be charged a penalty of 2% of the unpaid tax immediately after the due date, and another 4% penalty is imposed on the seventh day following the deadline.
Late Filing Penalty: If a registered business fails to file its VAT returns by the due date, it may be charged a penalty of AED 1,000 for the first offense, and AED 2,000 for each subsequent offense.
Incorrect Tax Return Penalty: If a registered business files an incorrect tax return, it may be charged a penalty of AED 3,000 for the first offense, and AED 5,000 for each subsequent offense.
Non-Registration Penalty: If a business is required to register for VAT but fails to do so, it may be charged a penalty of AED 20,000.
Non-Compliance Penalty: If a registered business fails to comply with other VAT regulations, it may be charged a penalty of AED 15,000 for the first offense, and AED 30,000 for each subsequent offense.
It's important to note that these penalties are subject to change and may vary depending on the specific circumstances of each case. In addition to these penalties, non-compliance with VAT regulations can also result in legal action, which can lead to further fines and penalties, including imprisonment. Therefore, it's essential for businesses to comply with all VAT regulations in Dubai and throughout the UAE. An FTA-Approved Tax Agency can assist businesses with their VAT compliance obligations and help avoid penalties and other legal issues related to non-compliance.
Why Choose MASAR:
MASAR is a well-established and reputable FTA-Approved Tax Agency in Dubai. Here are some reasons why you may want to consider choosing MASAR:
MASAR is a team of highly qualified professionals with extensive experience in tax-related matters. They have a deep understanding of UAE tax laws and regulations and can provide accurate and efficient tax-related services.
MASAR has invested in the latest technology and systems to provide clients with efficient and accurate tax-related services. They can handle a wide range of tax-related services and can customize their solutions to meet specific business needs and requirements.
MASAR offers a wide range of tax-related services, including tax registration, tax return filing, tax accounting, and tax advisory services. They can help businesses throughout the entire tax compliance process, from registration to filing and beyond.
MASAR has a client-centric approach, with open lines of communication and responsive customer service. They provide regular updates on the status of tax-related matters and are available to answer any questions or concerns clients may have.
MASAR offers cost-effective solutions, with transparent and competitive pricing. They work with clients to understand their specific needs and requirements and offer tailored solutions to meet their budgets.
MASAR has a strong reputation in the market, with many satisfied clients. They have been providing high-quality tax-related services to businesses in Dubai and throughout the UAE for many years.
MASAR is a reliable and trusted FTA-Approved Tax Agency in Dubai, with a team of experts who can provide accurate and efficient tax-related services. They offer a wide range of tax-related services, use the latest technology, and have a client-centric approach to communication and customer service.
Conclusion:
Selecting the right FTA-Approved Tax Agency is essential for businesses in Dubai and throughout the UAE to ensure compliance with VAT regulations and avoid penalties and other legal issues related to non-compliance. MASAR is a reputable and reliable FTA-Approved Tax Agency that can help businesses with their tax-related matters. They have a team of highly qualified professionals with extensive experience in tax-related matters, the latest technology and systems, and a client-centric approach to communication and customer service. MASAR offers a wide range of tax-related services and can tailor their solutions to meet specific business needs and requirements. They have a strong reputation in the market and offer cost-effective solutions with transparent and competitive pricing. Overall, MASAR is a trusted and reliable partner for businesses seeking assistance with their tax-related matters in Dubai and throughout the UAE.
#Tax Agency in Dubai#Auditing firm in Dubai#Auditors in UAE#VAT Services in UAE#Corporate Tax in UAE#Excise Tax in UAE
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Get the Best Excise Consultancy Services for Your Business
Forthright Consultancy is a leading professional consultancy firm that specializes in providing a wide range of services related to company formation and liquidation. Our experienced team of experts guides clients through the complex process of company formation, ensuring all legal and regulatory requirements are met, and ensuring a smooth and efficient process. We also provide withholding tax services, helping clients navigate the complex laws and regulations surrounding this area, and ensuring they are in compliance with all relevant laws. Our team of experts will provide expert advice on tax planning and compliance, helping clients minimize their tax liabilities while ensuring they are in compliance with all relevant regulations. We also provide excise consultancy services, helping clients understand the complex regulations surrounding excise duties and taxes, and ensuring they are in compliance with all relevant laws and regulations.
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tax consultants in Dubai
#bookkeeping services dubai#VAT Services in dubai#Tax consultants in Dubai#Accounting Services In UAE#Accounting Services In Dubai#Financial Advisory Firms in Dubai#Excise compliance in the UAE#tax consultants in Dubai
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All You Need to Know About Excise Tax in UAE.
Are you based in UAE and wondering what Excise Tax is and how it is calculated? Do you need to register for Excise Tax in UAE and how can you do that? At SAB Auditing, we have put together all the information you need to know about Excise Tax in UAE. We will explain what Excise Tax is, how it is calculated, who should register for Excise Tax, and how we can help you with the process. So, if you're looking for a comprehensive guide to Excise Tax in UAE.
Overview of Excise Tax:
Excise Tax in UAE is a value-added tax that is imposed on certain goods that are considered harmful to public health and the environment. It is also known as the ‘sin tax’ as it is intended to discourage the consumption of these goods. In the UAE, Excise Tax was introduced in 2017 by the Federal Tax Authority, and the first excise goods to be subject to the tax are soft drinks, energy drinks, and tobacco products. The rate of tax applicable depends on the product, with soft drinks being taxed at a rate of 50% and tobacco products being taxed at 100%.
Taxpayers who are engaged in business activities related to excise goods must register for Excise Tax with the Tax Agency in UAE. The registration process is like other taxes, with taxpayers required to provide their trade license, contact information, details of all excise goods they are dealing in, and any other relevant information. After registration, a unique TRN (Tax Registration Number) will be provided which must be included in all invoices related to excise goods.
To ensure accurate calculation of Excise Tax in UAE, taxpayers need to keep a track of all documents and invoices related to the sale or purchase of excise goods. Moreover, taxpayers should regularly monitor the rate of Excise Tax applicable as changes in rates are published by the Federal Tax Authority from time to time. It is also important to note that Excise Tax Registration in UAE is mandatory even if the taxpayer is not dealing with any of the listed excise goods.
The Process of Calculating Excise Tax
An excise tax is a tax that is levied on specific goods, such as gasoline, alcohol, tobacco, and firearms. The process of calculating excise tax typically involves the following steps:
Determine the applicable excise tax rate: The excise tax rate varies depending on the type of product being sold and the location in which it is sold. The government sets the excise tax rate, and it is usually a fixed amount per unit of the product.
Determine the quantity of the product: The quantity of the product being sold is also a key factor in calculating the excise tax. The tax is typically based on a specific quantity or volume of the product.
Calculate the total excise tax: Once the applicable excise tax rate and the quantity of the product have been determined, you can calculate the total excise tax by multiplying the excise tax rate by the quantity of the product.
For example, let's say the excise tax rate on a pack of cigarettes is $1.50, and a retailer sells a carton of cigarettes containing 10 packs. The total excise tax on the carton of cigarettes would be $15.00 (i.e., $1.50 x 10 packs).
It is important to note that excise taxes are typically paid by the manufacturer, distributor, or retailer of the product, and the tax is often included in the price that consumers pay for the product.
Who Should Register for Excise Tax:
If your business or company is based in the United Arab Emirates (UAE) and you deal with certain goods and services, you must register for Excise Tax. According to the UAE Excise Tax Law, any organization, company, or business entity that manufactures, produces, imports, stores, sells, supplies, or distributes any of the excise goods listed in the Federal Decree-Law No.7/2017 (the “Excise Tax Law”) needs to register with the Federal Tax Authority (FTA).
The businesses and organizations eligible to register for Excise Tax in UAE are those involved in producing, importing, storing, selling, supplying, or distributing the following excise goods: energy drinks; tobacco products; carbonated drinks; and certain types of digital media such as media players, game consoles, streaming boxes, and similar devices used for playing digital media. It is important to note that the Excise Tax registration applies to all companies regardless of their size or legal status.
The registration for Excise Tax in Dubai and other parts of the UAE must be done through the FTA's online system. Companies should submit their application documents through the e-services portal provided by the FTA and then complete the application process.
SAB Auditing can help businesses and organizations with their Excise Tax registration in UAE by providing them with professional services to ensure a smooth and successful registration process. Our team of experienced professionals has extensive knowledge of the Excise Tax Law and can provide reliable guidance throughout the entire registration process. We also offer a wide range of other services related to Excise Tax including tax compliance review and preparation of required financial statements. We also help with filing VAT returns and obtaining VAT refunds.
How SAB Auditing Can Help You:
At SAB Auditing, we understand the complexities of the UAE's Excise Tax laws and regulations, which is why we offer services to help guide you through the process of understanding and meeting your obligations. We are a leading auditing firm in UAE and provide comprehensive support for Excise Tax registration in UAE. We also provide ICV audit services in UAE, to ensure that all aspects of your business comply with the local tax regulations.
Our team has extensive experience and knowledge when it comes to the excise tax requirements in the UAE and will work with you to develop a tailored solution for your business. We can assist you with all aspects of the registration process and compliance, from collecting all relevant documents and information to liaising with the relevant Tax Agency in UAE. Our expert team will provide support throughout the entire registration process, so you can be confident that you're fulfilling all of your legal obligations. In addition, our VAT Services in UAE can help you to better manage your finances, reduce your costs and make sure you're paying the right amount of tax.
Our ICV Audit in UAE is designed to give you peace of mind by providing independent assurance that all financial records are accurate and complete. We'll review all accounting and financial records against taxation legislation and international standards of practice, providing assurance that they accurately reflect the financial performance of the organization.
At SAB Auditing, we strive to provide superior quality assurance and advisory services. As a top-tier auditing firm in UAE, we guarantee our clients excellent service and expertise when it comes to handling their excise taxes. To learn more about how we can help your business with its excise taxes, contact us today!
#Auditing Firm in UAE#ICV Audit in UAE#VAT services in UAE#Tax Agency in UAE#Excise Tax in Dubai#Excise Tax in UAE
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Tax his land,
Tax his bed,
Tax the table
At which he's fed.
Tax his work,
Tax his pay,
He works for peanuts
Anyway!
Tax his cow,
Tax his goat,
Tax his pants,
Tax his coat.
Tax his tobacco,
Tax his drink,
Tax him if he
Tries to think.
Tax his car,
Tax his gas,
Find other ways
To tax his ass.
Tax all he has
Then let him know
That you won't be done
Till he has no dough.
When he screams and hollers;
Then tax him some more,
Tax him till
He's good and sore.
Then tax his coffin,
Tax his grave,
Tax the sod in
Which he's laid.
When he's gone,
Do not relax,
Its time to apply
The inheritance tax.
Accounts ReceivableTax
Airline surcharge tax
Airline FuelTax
Airport MaintenanceTax
Building PermitTax
CigaretteTax
Corporate IncomeTax
DeathTax
Dog LicenseTax
Driving PermitTax
EnvironmentalTax (Fee)
Excise Taxes
Federal Income Tax
Federal Unemployment (UI)
Fishing License Tax
Food License Tax
Gasoline Tax (too much per litre)
Gross ReceiptsTax
HealthTax
Hunting LicenseTax
HydroTax
InheritanceTax
InterestTax
LiquorTax
LuxuryTaxes
Marriage LicenseTax
MedicareTax
MortgageTax
Personal IncomeTax
PropertyTax
PovertyTax
Prescription DrugTax
Provincial Income and sales tax
Real EstateTax
Recreational VehicleTax
Retail SalesTax
Service ChargeTax
SchoolTax
Telephone FederalTax
Telephone Federal, Provincial and Local Surcharge Taxes
Telephone Minimum Usage Surcharge Tax
Vehicle License Registration Tax
Vehicle Sales Tax
WaterTax
Watercraft RegistrationTax
Well PermitTax
Workers CompensationTax
THINK THIS IS FUNNY?
Not one of these taxes existed 60 years ago, & our nation was one of the most prosperous in the world. We had absolutely no national debt, had a large middle class, and Mom stayed home to raise the kids.
What happened? Can you spell 'politicians?'
I hope this goes around the USA at least 100 times. YOU can help it get there.
-Benjamin Fulford 🤔
#pay attention#educate yourselves#educate yourself#knowledge is power#reeducate yourself#reeducate yourselves#think about it#think for yourselves#think for yourself#do your homework#do some research#do your own research#ask yourself questions#question everything#benjamin fulford#news#tax
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Cencuser is a comprehensive digital library dedicated to Central Excise, Customs, Service Tax, Foreign Trade Policy, International Trade, RBI regulations, Budget insights, and case laws related to Indirect Tax. Our platform provides in-depth resources and up-to-date information, empowering professionals, businesses, and students to navigate the complexities of indirect taxation with ease and confidence.
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@markeatsmeat
Wow. Joel Salatin, a farmer and regenerative agriculture advocate, has been offered a position within the USDA. He will advise Thomas Massie who’s agreed to be Secretary of Agriculture. Here’s the full message posted to his website today: “The deplorables and garbage people won again. Can you believe it? I've been contacted by the Trump transition team to hold some sort of position within the USDA and have accepted one of the six "Advisor to the Secretary" spots. My favorite congressman, Thomas Massie from Kentucky, has agreed to go in as Secretary of Agriculture. He's been the sponsor of the PRIME ACT, which, if pushed through, would be the biggest shot across the bow of the entrenched industrial meat processing system we've seen in a century. Let liberty ring. Wouldn't that be a change of fortune for Big Ag? If RFK Jr. goes in as Sec. of Health and Human Services, everything will be inverted. Talk about the coolest turn about. He'd be the boss of the Faucis and Francis Collins--the whole covid anti-science crowd. Wouldn't that be a change of fortune for Big Pharma? And if Elon Musk goes in as a Government Waste Czar, do you think he could possibly find something? Here's an interesting tidbit. All the income taxes in the U.S. are $2 trillion a year. Government spending and borrowing are so out of control that if we eliminated $2 trillion from the budget, it would only set us back to 2020. Does anyone think returning to government spending in 2020 would destroy things? Of course not. So all we have to do is cut federal spending to 2020 levels and we can eliminate income tax. Period. Done. How would that make you feel? Most people don't know enough history to know that the federal government was to be financed entirely from tariffs and excise taxes. In fact, as a nation we operated just fine for nearly 150 years without an income tax. The only president who eliminated the national debt was Andrew Jackson, and he did it by eliminating the second bank of the U.S. Nearly 100 years later we got the third bank, known as the Federal Reserve, plus the income tax. During that time, tariffs averaged 40-50 percent. After the income tax, tariffs dropped to an average of about 7 percent, where they remain today. If we went back to 40 percent, like we had for nearly 150 years, we would bring production home and free our citizens from impoverishing taxes. Dear folks, this is a watershed moment to take a creative and serious look at the sacred cows in our nation and fry some serious burgers. We don't know history. We don't know liberty. We don't know earthworms or aquifers or immune systems. I'm hoping this election is an opening to discovery. Perhaps we could even figure out how to put negative occurrences like jails, pollution, and cancer on the nation's balance sheet, as a liability rather than an asset (Gross Domestic Product--more jails? wonderful, pour more concrete and make more jobs). Perhaps we'll eliminate federal involvement in education, from kindergarten to college. Make every teacher accountable to performance. Eliminate ALL federal intervention in the food system, in farming, in energy. The Constitution (read it) doesn't allow for any of this and it's time to examine all of it. Shut down foreign military bases; bring them all home. Stop ALL foreign aid, from USAID to military aid. Sell stuff is fine; giving it isn't. I think whatever taxes we pay should be able to be designated to certain departments. That way we the people could support or defund departments directly. The reason we have K street is because all our freedoms are for sale. Eliminate government manipulation and the lobbyists all go home. These are simple things. Let's do it.” https://thelunaticfarmer.com/blog/11/6/2024/celebration?format=amp
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