Podcasts about excises

Join me for a show on tactics for beating inflation that anyone can work on. This goes beyond “stop buying froo froo coffee” and delves into five places to focus your attention as we navigate quickening technological advances, a transitioning economy, and, well, friggin high prices at the grocery store that are outpacing income increases. Featured Event: Oct 3 Fight Hacker, Escapeology with Sonny Puzikas in Camden, TN Sponsor 1: EMPShield.com, Coupon Code LFTN Sponsor 2: TheWealthSteadingPodcast.com Livestream Schedule Tuesday 9:30am: Tuesday Coffee with CJ Killmer and Shawn Mills Friday 9:30am: Homestead Happenings with the Tactical Redneck Sunday 6pm: Shoot the Breeze with Toolman Tim Cook and Spags Tales from the Prepper Pantry Freezer Audit Complete Livestreams of weird things: beef heart Collecting much more herbal tea items to dry Final round of tomato canning up this week to free up freezer space Canned good reorganization Prepper Pantry Redo Update Weekly Shopping Report Home Depot. The online price of a 2x4x8 there remains $3.65. Along with the new type, Aldi had some of their canned cat food back in stock, so we got two cases. We found everything else we wanted, but noted they were out of watermelon (not on our list this week). Staple prices were: bread (20 oz. white): $1.39; eggs: $3.77 (++); whole milk: $2.92 (+); heavy cream: $5.39; OJ: $3.45; butter: $3.99; bacon: $3.99; potatoes: $4.59; sugar: $2.99; flour: $2.35; and 80% lean ground beef: $4.39 (+). A gallon of untainted regular gasoline remains at $3.599. Frugality Tip from Margo Hey y'all. After talking to someone recently I realized there are probably some things that are second nature to some, but unfamiliar to others. This week's frugality tip is using media mail with the post office. If you are mailing books, movies, music, or educational material you can send them via media mail. Maximum weight is 70 lbs and it is $4.13 (at time of writing) for any size package. But don't put anything else in the package, they can and will, randomly open media mail packages because some people have tried to skirt the system and mail other things. So send a book to someone and save a few bucks by sending it media mail.  Happy savings y'all. Operation Independence That single beef heart yielding 7 meals was pretty slick - especially considering that people all but THROW hearts, livers and tongues at me. Main topic of the Show: Five Tactics To Beat Inflation Long Term View on Necessary Purchases: Quality - repairable freezer without a computer was $200 more than a good-name freezer. Likely to last twice as long. Maintenance on a regular schedule The $5 coffee coffee “problem” and gearing up at home How can you side hustle this? From Scratch Cooking: This CAN cost more but doesn't have to. Do you eat bread? Bake it. Make homemade tortillas. Make them.  How often do you grab something for lunch or dinner from a place. Can you premake things and replicate the ease while getting more bang for your buck $15 foot long subway Premade burritos in the freezer Make your own spice mixes Start where you are and make one change at a time. (eating out and making convenience foods on the weekend, meal planning, learn to cook rice or steaks well. If you dont know what to do, do something) SavingsNinja on tiktok -2000/ calories a day on $4 Soapless laundry How can you start a side hustle with this? Prioritize health whatever that means for you. If you are not getting nutrition, exercise, sleep, health maintenance like regular dental attention, mental health – it is harder to tap into new ways to beat inflation. Exercise is free. Making time for exercise is in your control even when you are slammed. Excises do not serve you. Nutrition Reduced Bills, whatever that means for you and your family, when done right will push down the hunger and the bills. Yes. Plenty of people point out that chips are cheaper than vegetables and meats. But in the aggregate ARE THEY? When you cut out the refined sugars, the processed foods and transition to whole foods (yes even if that includes Nicoles nemesis CARBS), the overall grocery bill goes down. At first you may eat more, but your body adjusts. And if you must bake a thing to have a treat, I dont know about you, but it slows me down. Especially since I dont even keep the supplies on hand for something like a cookie.  Learn herbal remedies. Dr's and herbalists OH MY. Create access to care for you and your family whether that be insurance, direct care, relationships with herbalists, taking that on at home, etc. Do what you can. Good mental health = resilience. Hard times are hard to get through and if you are mentally weak, it is EVEN harder. Address your mental health. (Nutrition and exercise helps with this)  How can you make a side hustle out of this? Produce What You Need: your home can work for you no matter where you live. Growing food, making beer, taking up knitting as a hobby, weld things together for projects, fix things yourself, find the ways to do this that reduce reliance on cheap Just in time solutions that do not last. Herbs and kitchen garden - lowes barrier to entry Backyard meats, rabbit, chickens and eggs, quail If you drink beer, brew beer (Caveat about how much you drink) Make a list and find things that fit with your lifestyle that you can build into how your household works from a production standpoint Adjusting by just spending less doesnt address the other side of the battle: You need more income. Side hustle, start a business, etc. How can you make a side hustle out of that? Community - This is what gets it done. No one can do everything but together we can do most. Trade/sell based on what you are good at (Side Hustles) Bulk buying in groups to tap into savings without having to buy a WHOLE CASE of chicken Jacks show on food pma and the roundtable at SRF Project blitzes Tapping into the lows when there are highs and lows (Eg lumber) Entertainment for free (potluck, campfires, picnics, movie night, etc) Events and gatherings How can you make a side hustle out of that? What ideas do you have? Make it a great week! GUYS! Don't forget about the cookbook, Cook With What You Have by Nicole Sauce and Mama Sauce.  Community Follow me on Nostr: npub1u2vu695j5wfnxsxpwpth2jnzwxx5fat7vc63eth07dez9arnrezsdeafsv Mewe Group: https://mewe.com/join/lftn Telegram Group: https://t.me/LFTNGroup Odysee: https://odysee.com/$/invite/@livingfree:b Resources Membership Sign Up Holler Roast Coffee Harvest Right Affiliate Link  

In this episode of the CMW we talk with Emily Kramer Throckmorton Owner/Head Strength & Conditioning Coach of Kaizen Adaptive training. At Kaizen Emily and her husband train adaptive athletes - mostly injured military personnel - and help them get stronger! This conversation was AWESOME to have and be able to highlight someone doing such amazing work as Emily is.___FREE EMAIL COURSEAspiring https://strengthcoachnetwork.com/aspiring-leadAssistant https://strengthcoachnetwork.com/assistant-leadDirector https://strengthcoachnetwork.com/director-lead___From our sponsorsTeamBuildr

Farmers & Truckies Are Paying For Fuel Excises & It's Costing EVERYONE More See omnystudio.com/listener for privacy information.

Uniformity Clause. The final phrase of the Taxing and Spending Clause stipulates: but all Duties, Imposts and Excises shall be uniform throughout the United States. Here, the requirement is that taxes must be geographically uniform throughout the United States. This means taxes affected by this provision must function "with the same force and effect in every place where the subject of it is found." However, this clause does not require revenues raised by the tax from each state be equal. Justice Story characterized this requirement in a light more relevant to practicality and fairness: It was to cut off all undue preferences of one state over another in the regulation of subjects affecting their common interests. Unless duties, imposts, and excises were uniform, the grossest and most oppressive inequalities, vitally affecting the pursuits and employments of the people of different states, might exist. In other words, it was another check placed on the legislature in order to keep a larger group of states from "ganging up" to levy taxes benefiting them at the expense of the remaining, smaller group of states. A somewhat notable exception to this limitation has been upheld by the Supreme Court. In United States v Ptasynski, the Court allowed a tax exemption which was quasi-geographical in nature. In the case, oil produced within a defined geographic region above the Arctic Circle was exempted from a federal excise tax on oil production. The basis for the holding was that Congress had determined the Alaskan oil to be of its own class and exempted it on those grounds, even though the classification of the Alaskan oil was a function of where it was geographically produced. To understand the nuance of the Court's holding, consider this explanation: Congress decides to implement a uniform tax on all coal mining. The tax so implemented distinguishes between different grades of coal (for example, anthracite versus bituminous versus lignite) and exempts one of the grades from taxation. Even though the exempted grade could potentially be defined by where it is geographically produced, the tax itself is still geographically uniform. --- Send in a voice message: https://anchor.fm/law-school/message Support this podcast: https://anchor.fm/law-school/support

The Taxing and Spending Clause (which contains provisions known as the General Welfare Clause and the Uniformity Clause), Article 1, Section 8, Clause 1 of the United States Constitution, grants the federal government of the United States its power of taxation. While authorizing Congress to levy taxes, this clause permits the levying of taxes for two purposes only: to pay the debts of the United States, and to provide for the common defense and general welfare of the United States. Taken together, these purposes have traditionally been held to imply and to constitute the federal government's taxing and spending power. Constitutional text. The Congress shall have Power To lay and collect Taxes, Duties, Imposts and Excises, to pay the Debts and provide for the common Defense and general Welfare of the United States; but all Duties, Imposts and Excises shall be uniform throughout the United States; Background. One of the most often claimed defects of the Articles of Confederation was its lack of a grant to the central government of the power to lay and collect taxes. Under the Articles, Congress was forced to rely on requisitions upon the governments of its member states. Without the power to independently raise its own revenues, the Articles left Congress vulnerable to the discretion of the several State governments—each State made its own decision as to whether it would pay the requisition or not. Some states were not giving Congress the funds for which it asked by either paying only in part, or by altogether ignoring the request from Congress. Without the revenue to enforce its laws and treaties, or pay its debts, and without an enforcement mechanism to compel the States to pay, the Confederation was practically rendered impotent and was in danger of falling apart. The Congress recognized this limitation and proposed amendments to the Articles in an effort to supersede it. However, nothing ever came of those proposals until the Philadelphia Convention. Powers granted. The power to tax is a concurrent power of the federal government and the individual states. The taxation power has been perceived over time to be very broad, but has also, on occasion, been curtailed by the courts. United States v Butler stated that the clause also granted "a substantive power... to appropriate", not subject to the limitations imposed by the other enumerated powers of Congress. --- Send in a voice message: https://anchor.fm/law-school/message Support this podcast: https://anchor.fm/law-school/support

History. Constitutional. Article 1, Section 8, Clause 1 of the United States Constitution (the "Taxing and Spending Clause"), specifies Congress's power to impose "Taxes, Duties, Imposts and Excises", but Article 1, Section 8 requires that, "Duties, Imposts and Excises shall be uniform throughout the United States." The Constitution specifically stated Congress' method of imposing direct taxes, by requiring Congress to distribute direct taxes in proportion to each state's population "determined by adding to the whole Number of free Persons, including those bound to Service for a Term of Years, and excluding Indians not taxed, three fifths of all other Persons". It has been argued that head taxes and property taxes (slaves could be taxed as either or both) were likely to be abused, and that they bore no relation to the activities in which the federal government had a legitimate interest. The fourth clause of section 9 therefore specifies that, "No Capitation, or other direct, Tax shall be laid, unless in Proportion to the Census or enumeration herein before directed to be taken." Taxation was also the subject of Federalist No. 33 penned secretly by the Federalist Alexander Hamilton under the pseudonym Publius. In it, he asserts that the wording of the "Necessary and Proper" clause should serve as guidelines for the legislation of laws regarding taxation. The legislative branch is to be the judge, but any abuse of those powers of judging can be overturned by the people, whether as states or as a larger group. The courts have generally held that direct taxes are limited to taxes on people (variously called "capitation", "poll tax" or "head tax") and property. All other taxes are commonly referred to as "indirect taxes," because they tax an event, rather than a person or property per se. What seemed to be a straightforward limitation on the power of the legislature based on the subject of the tax proved inexact and unclear when applied to an income tax, which can be arguably viewed either as a direct or an indirect tax. Early federal income taxes. The first income tax suggested in the United States was during the War of 1812. The idea for the tax was based on the British Tax Act of 1798. The British tax law applied progressive rates to income. The British tax rates ranged from 0.833% on income starting at £60 to 10% on income above £200. The tax proposal was developed in 1814. Because the treaty of Ghent was signed in 1815, ending hostilities and the need for additional revenue, the tax was never imposed in the United States. In order to help pay for its war effort in the American Civil War, Congress imposed the first federal income tax in U.S. history through passage of the Revenue Act of 1861. The act created a flat tax of three percent on incomes above $800 ($23,000 in current dollar terms). This taxation of income reflected the increasing amount of wealth held in stocks and bonds rather than property, which the federal government had taxed in the past. The Revenue Act of 1862 established the first national inheritance tax and added a progressive taxation structure to the federal income tax, implementing a tax of five percent on incomes above $10,000. Congress later further raised taxes, and by the end of the war, the income tax constituted about one-fifth of the revenue of the federal government. To collect these taxes, Congress created the Office of the Commissioner of Internal Revenue within the Treasury Department. The federal income tax would remain in effect until its repeal in 1872. --- Send in a voice message: https://anchor.fm/law-school/message Support this podcast: https://anchor.fm/law-school/support

Hour 1 * Guest: Chris Carlson – Discussion of All Things Liberty. * Discussion of The general welfare clause of the US Constitution! * Article I, Section 8, Clause 1 of the Constitution, the “general Welfare clause,” is often referred to as the “Taxing and Spending Clause” because of its expansive use today. Many people claim it gives the feds the authority to do anything imaginable as long as it “promotes the general welfare” – however one might define it. * Biden: Expand the child tax credit – Biden called Thursday on Congress to extend the Child Tax Credit expansion past its December expiration date, arguing it has the potential to reduce child poverty in America – “People who are working hard and paying taxes deserve a break,”. * Voluntary Christian Charity vs. Forced Government Welfare – True Generosity Involves Choice, Not Coercion! * What is Moral Hazard? – Definition: Moral hazard is a situation in which one party gets involved in a risky event knowing that it is protected against the risk and the other party will incur the cost. It arises when both the parties have incomplete information about each other. * “But all Duties, Imposts and Excises shall be uniform throughout the United States;” * Biden opens the back door to universal basic income – TheHill. Hour 2 * Guest: Dr. Scott Bradley – To Preserve The Nation – FreedomsRisingSun.com. * Multiple parents have filed lawsuits against Washington, DC, for allowing children to receive vaccines without parental knowledge or consent. * The US DOD considers making COVID-19 vaccines mandatory for U.S. troops if the FDA approves it, according to the Pentagon's press secretary – Members of the US military are already required to get vaccinated with a number of vaccines for various diseases, including Mumps, Measles and Polio. * Vaccine Strike Force Coming! – Will the Gov. go community by community, neighborhood by neighborhood, and oftentimes door to door, literally knocking on doors, to force Vaccines? * Do syringes feature RFID tracking? Radio frequency (RFID) and near field identification chips can be affixed to the label of a prefilled syringe, according to RAPID USA's website. * Coronavirus update, Surgeon General: Misinformation on Health ‘Urgent Threat to Public. * Contact tracing surveillance ripe for abuse – Privacy & Digital-Rights Experts Worry Contact-Tracing Apps Lack Limits! * Google reveals government surveillance at all-time high – US, Germany, France, UK and India top surveillance requests list. --- Support this podcast: https://anchor.fm/loving-liberty/support

* Guest: Chris Carlson - Discussion of All Things Liberty. * Discussion of The general welfare clause of the US Constitution! * Article I, Section 8, Clause 1 of the Constitution, the "general Welfare clause," is often referred to as the "Taxing and Spending Clause" because of its expansive use today. Many people claim it gives the feds the authority to do anything imaginable as long as it "promotes the general welfare" - however one might define it. * Biden: Expand the child tax credit - Biden called Thursday on Congress to extend the Child Tax Credit expansion past its December expiration date, arguing it has the potential to reduce child poverty in America - "People who are working hard and paying taxes deserve a break,". * Voluntary Christian Charity vs. Forced Government Welfare - True Generosity Involves Choice, Not Coercion! * What is Moral Hazard? - Definition: Moral hazard is a situation in which one party gets involved in a risky event knowing that it is protected against the risk and the other party will incur the cost. It arises when both the parties have incomplete information about each other. * "But all Duties, Imposts and Excises shall be uniform throughout the United States;" * Biden opens the back door to universal basic income - TheHill.

The first clause of Article I, Section 8, reads, "The Congress shall have Power to lay and collect Taxes, Duties, Imposts and Excises, to pay the Debts and provide for the common Defence and general Welfare of the United States." This clause, called the General Welfare Clause or the Spending Power Clause, does not grant Congress the power to legislate for the general welfare of the country; that is a power reserved to the states through the Tenth Amendment. Rather, it merely allows Congress to spend federal money for the general welfare. The principle underlying this distinction—the limitation of federal power—eventually inspired the only important disagreement over the meaning of the clause. The Tenth Amendment to the United States Constitution, a part of the Bill of Rights, was ratified on December 15, 1791. It expresses the principle of federalism, also known as states' rights, by stating that the federal government has only those powers delegated to it by the Constitution, and that all other powers not forbidden to the states by the Constitution are reserved to each state. Thomas Jefferson on the General Welfare Clause https://www.youtube.com/watch?v=enIzunjfz9A [The Congress shall have Power] To lay and collect Taxes, Duties, Imposts and Excises, to pay the Debts and provide for the common Defence and general Welfare of the United States; but all Duties, Imposts and Excises shall be uniform throughout the United States https://tenthamendmentcenter.com/general-welfare-clause/ Article I, Section 8, Clause 1 of the Constitution, the “general Welfare clause,” is often referred to as the “Taxing and Spending Clause” because of its expansive use today. Many people claim it gives the feds the authority to do anything imaginable as long as it “promotes the general welfare” – however one might define it. But this creates a dilemma. Either James Madison and other supporters of the Constitution were lying when they said the powers of the federal government would be “few and defined,” or people have misconstrued the legal meaning of this clause. The existence of enumerated powers resolves this dilemma.

The Congress shall have Power To lay and collect Taxes, Duties, Imposts and Excises, to pay the Debts and provide for the common Defence and general Welfare of the United States; but all Duties, Imposts and Excises shall be uniform throughout the United States. Dr Dale Walker  Doctor of Business Administration (Accounting)    2014 Dissertation: “Will the Proposed Statement of Cash Flows Increase Attitudes Toward Readability and Understanding of the Federal Statement of Changes in Cash?”   General welfare clause covering initial government services (Article 1, Section 8)   Executive Legislative Judicial Department of War Department of Justice Department of the Treasury Department of State District of Columbia

I am honored to have my longtime friend Justin in today's interview. Back in 2015, we got to know each other during my year abroad in Vidor, Texas, USA. In this interview, he specifically goes into his self-development, which happened after high school, along with some struggles and challenges he overcame during that time. By educating himself more through books, like: “How To Win Friends And Influence People”, he turned a lot of believes and obstacles around and kickstarted into a completely new phase of personal- and business growth. The main topics, we touched on in this interview are:

Article 1Section 1All legislative Powers herein granted shall be vested in a Congress of the United States, which shall consist of a Senate and House of Representatives.Section 2The House of Representatives shall be composed of Members chosen every second Year by the People of the several States, and the Electors in each State shall have the Qualifications requisite for Electors of the most numerous Branch of the State Legislature.No Person shall be a Representative who shall not have attained to the Age of twenty five Years, and been seven Years a Citizen of the United States, and who shall not, when elected, be an Inhabitant of that State in which he shall be chosen.Representatives and direct Taxes shall be apportioned among the several States which may be included within this Union, according to their respective Numbers, which shall be determined by adding to the whole Number of free Persons, including those bound to Service for a Term of Years, and excluding Indians not taxed, three fifths of all other Persons. The actual Enumeration shall be made within three Years after the first Meeting of the Congress of the United States, and within every subsequent Term of ten Years, in such Manner as they shall by Law direct. The Number of Representatives shall not exceed one for every thirty Thousand, but each State shall have at Least one Representative; and until such enumeration shall be made, the State of New Hampshire shall be entitled to chuse three, Massachusetts eight, Rhode-Island and Providence Plantations one, Connecticut five, New-York six, New Jersey four, Pennsylvania eight, Delaware one, Maryland six, Virginia ten, North Carolina five, South Carolina five, and Georgia three.When vacancies happen in the Representation from any State, the Executive Authority thereof shall issue Writs of Election to fill such Vacancies.The House of Representatives shall chuse their Speaker and other Officers; and shall have the sole Power of Impeachment.Section 3The Senate of the United States shall be composed of two Senators from each State, chosen by the Legislature thereof, for six Years; and each Senator shall have one Vote.Immediately after they shall be assembled in Consequence of the first Election, they shall be divided as equally as may be into three Classes. The Seats of the Senators of the first Class shall be vacated at the Expiration of the second Year, of the second Class at the Expiration of the fourth Year, and of the third Class at the Expiration of the sixth Year, so that one third may be chosen every second Year; and if Vacancies happen by Resignation, or otherwise, during the Recess of the Legislature of anyState, the Executive thereof may make temporary Appointments until the next Meeting of the Legislature, which shall then fill such Vacancies.No Person shall be a Senator who shall not have attained to the Age of thirty Years, and been nine Years a Citizen of the United States, and who shall not, when elected, be an Inhabitant of that State for which he shall be chosen.The Vice President of the United States shall be President of the Senate, but shall have no Vote, unless they be equally divided.The Senate shall chuse their other Officers, and also a President pro tempore, in the Absence of the Vice President, or when he shall exercise the Office of President of the United States.The Senate shall have the sole Power to try all Impeachments. When sitting for that Purpose, they shall be on Oath or Affirmation. When the President of the United States is tried, the Chief Justice shall preside: And no Person shall be convicted without the Concurrence of two thirds of the Members present.Judgment in Cases of Impeachment shall not extend further than to removal from Office, and disqualification to hold and enjoy any Office of honor, Trust or Profit under the United States: but the Party convicted shall nevertheless be liable and subject to Indictment, Trial, Judgment and Punishment, according to Law.Section 4The Times, Places and Manner of holding Elections for Senators and Representatives, shall be prescribed in each State by the Legislature thereof; but the Congress may at any time by Law make or alter such Regulations, except as to the Places of chusing Senators.The Congress shall assemble at least once in every Year, and such Meeting shall be on the first Monday in December, unless they shall by Law appoint a different Day.Section 5Each House shall be the Judge of the Elections, Returns and Qualifications of its own Members, and a Majority of each shall constitute a Quorum to do Business; but a smaller Number may adjourn from day to day, and may be authorized to compel the Attendance of absent Members, in such Manner, and under such Penalties as each House may provide.Each House may determine the Rules of its Proceedings, punish its Members for disorderly Behaviour, and, with the Concurrence of two thirds, expel a Member.Each House shall keep a Journal of its Proceedings, and from time to time publish the same, excepting such Parts as may in their Judgment require Secrecy; and the Yeas and Nays of the Members of either House on any question shall, at the Desire of one fifth of those Present, be entered on the Journal.Neither House, during the Session of Congress, shall, without the Consent of the other, adjourn for more than three days, nor to any other Place than that in which the two Houses shall be sitting.Section 6The Senators and Representatives shall receive a Compensation for their Services, to be ascertained by Law, and paid out of the Treasury of the United States. They shall in all Cases, except Treason, Felony and Breach of the Peace, be privileged from Arrest during their Attendance at the Session of their respective Houses, and in going to and returning from the same; and for any Speech or Debate in either House, they shall not be questioned in any other Place.No Senator or Representative shall, during the Time for which he was elected, be appointed to any civil Office under the Authority of the United States, which shall have been created, or the Emoluments whereof shall have been encreased during such time; and no Person holding any Office under the United States, shall be a Member of either House during his Continuance in Office.Section 7All Bills for raising Revenue shall originate in the House of Representatives; but the Senate may propose or concur with Amendments as on other Bills.Every Bill which shall have passed the House of Representatives and the Senate, shall, before it become a Law, be presented to the President of the United States: If he approve he shall sign it, but if not he shall return it, with his Objections to that House in which it shall have originated, who shall enter the Objections at large on their Journal, and proceed to reconsider it. If after such Reconsideration two thirds of that House shall agree to pass the Bill, it shall be sent, together with the Objections, to the other House, by which it shall likewise be reconsidered, and if approved by two thirds of that House, it shall become a Law. But in all such Cases the Votes of both Houses shall be determined by Yeas and Nays, and the Names of the Persons voting for and against the Bill shall be entered on the Journal of each House respectively. If any Bill shall not be returned by the President within ten Days (Sundays excepted) after it shall have been presented to him, the Same shall be a Law, in like Manner as if he had signed it, unless the Congress by their Adjournment prevent its Return, in which Case it shall not be a Law.Every Order, Resolution, or Vote to which the Concurrence of the Senate and House of Representatives may be necessary (except on a question of Adjournment) shall be presented to the President of the United States; and before the Same shall take Effect, shall be approved by him, or being disapproved by him, shall be repassed by two thirds of the Senate and House of Representatives, according to the Rules and Limitations prescribed in the Case of a Bill.Section 8The Congress shall have Power To lay and collect Taxes, Duties, Imposts and Excises, to pay the Debts and provide for the common Defence and general Welfare of the United States; but all Duties, Imposts and Excises shall be uniform throughout the United States;To borrow Money on the credit of the United States;To regulate Commerce with foreign Nations, and among the several States, and with the Indian Tribes;To establish an uniform Rule of Naturalization, and uniform Laws on the subject of Bankruptcies throughout the United States;To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures;To provide for the Punishment of counterfeiting the Securities and current Coin of the United States;To establish Post Offices and post Roads;To promote the Progress of Science and useful Arts, by securing for limited Times to Authors and Inventors the exclusive Right to their respective Writings and Discoveries;To constitute Tribunals inferior to the supreme Court;To define and punish Piracies and Felonies committed on the high Seas, and Offences against the Law of Nations;To declare War, grant Letters of Marque and Reprisal, and make Rules concerning Captures on Land and Water;To raise and support Armies, but no Appropriation of Money to that Use shall be for a longer Term than two Years;To provide and maintain a Navy;To make Rules for the Government and Regulation of the land and naval Forces;To provide for calling forth the Militia to execute the Laws of the Union, suppress Insurrections and repel Invasions;To provide for organizing, arming, and disciplining, the Militia, and for governing such Part of them as may be employed in the Service of the United States, reserving to the States respectively, the Appointment of the Officers, and the Authority of training the Militia according to the discipline prescribed by...

This week Tova and Mike talk about the weirdest excuses from kids and how these excuses have changed over the years. They also talk about Tova's first book 'F*cked at 40' which is available for pre-sale now!

Welcome to Finance and Fury A plan for structural reforms to help increase Australians’ ability for upward mobility. The coalition will likely have enough seats to squeeze through a lot of reforms. Today: Income axes going up aren’t much of a concern What about the taxes you don’t see directly? The effect of these taxes on the economy growth or decline How to reduce your taxable incomes? Taxes – Government revenue source Number of taxes – do you know how may taxes you pay each year? The average Australians pay at least 125 different taxes each year, 99 to Federal, 25 to State and 1 to Local Total tax collected is approximately $528.5 Bn Most tax comes from incomes of individuals and businesses – 59% or $312 Bn Consumption tax like GST makes up 26.8% was supposed to replace state’s stamp duty Business payroll tax makes up 4.7% or $24.7 Bn charged to companies if they have above a threshold employees/wages Excises on specific goods – normally ones on top of GST at Government discretion Sin taxes – consumption tax on goods which are harmful to society Alcohol – the social cost from loss of labour, healthcare, accidents and crime costs Tobacco – the effects of smoking are estimated to cost $320 million but the revenue raised is $12 Bn Does the additional money go back in to addiction treatment programs to help? Or the general spending budget? Consumption vs Income Taxes Both can’t be kept high If consumption tax increases the cost of living, income tax should be lower Consuming becomes more costly with consumption tax, putting a strain on upwards wealth mobility   Statistics on Taxpayers Individuals and income tax reduction plan for 2022 and 2024 Helping reduce the burden GST placed onto families from 2001 onwards Original plan to protect works from bracket creeps With wage growth and inflation going up, if the marginal tax brackets don’t increase too you get bracket creeps Abolishing the entire tax bracket 90k – 180k incentivises hard work Despite these changes you will still see the top 5% of workers paying a 3rd of all income tax collected Someone earning $200,000 pays 10 times more tax than someone earning $45,000 per year   How to reduce certain types of tax? GST? Stop spending so much. Further excises on your spending only reduce with less spending Income tax? Deductions or salary sacrifice Salary sacrifice puts money into super up to $25,000 cap taxed at 15% rather than marginal tax rate Deductions give back the costs of investments or work related expenses and donations to reduce your assessable income Give to charity – Donate to my CEO Sleepout https://www.ceosleepout.org.au/fundraisers/louisstrange/brisbane Negative gearing when you spend more on investments than you earn Borrow to invest – home equity Get your marginal tax rate back and for a lot of people the amount back will decline from 2024 Lower marginal tax rates for those earning between $40k-$200k   Franking credits – Shares Tax offsets on dividend income Buy fully franked dividend yielding shares, but gets added to gross income Own 1,000 CBA shares. They pay $4.30 per share in dividend so you get $4,300 of income. Plus the franking credit, of $1,843 so total income is $6,143 Earning a salary of 100k, assessed at 39% the tax would be $2,396 minus the franking credit of $1,843 so net tax is now $523. Therefore, the marginal tax rate is now 13% instead of 39% But, you will simply pay no tax on dividends if your assessable income is all the way up to 200k, as franking credits offset tax on franked income with a 30% tax rate   Family trusts – No changes to distribution rules Still allows flexibility and asset protection Own assets and distribute income to the lower marginal tax rate individual   Capital Gains/Losses Gains still get the discount for assets owned longer than 12 months Losses, claim against future gains If you enjoyed this episode leave a rating, if you want to get in contact you can do so here.   Resources: Individuals taxation statistics - https://data.gov.au/data/dataset/taxation-statistics-2016-17/resource/4161d1b8-f9e3-4f36-b21d-d5d06b43ed2e   Australian taxes - http://taxreview.treasury.gov.au/content/paper.aspx?doc=html/publications/papers/report/section_2-03.htm        

The Congress shall have Power To lay and collect Taxes, Duties, Imposts and Excises, to pay the Debts and provide for the common Defence and general Welfare of the United States.... ARTICLE I, SECTION 8, CLAUSE 1

The Congress shall have Power To lay and collect Taxes, Duties, Imposts and Excises, to pay the Debts and provide for the common Defence and general Welfare of the United States; but all Duties, Imposts and Excises shall be uniform throughout the United States; To borrow Money on the credit of the United States; To regulate Commerce with foreign Nations, and among the several States, and with the Indian Tribes; To establish an uniform Rule of Naturalization, and uniform Laws on the subject of Bankruptcies throughout the United States; To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures; To provide for the Punishment of counterfeiting the Securities and current Coin of the United States; To establish Post Offices and post Roads; To promote the Progress of Science and useful Arts, by securing for limited Times to Authors and Inventors the exclusive Right to their respective Writings and Discoveries; To constitute Tribunals inferior to the supreme Court; To define and punish Piracies and Felonies committed on the high Seas, and Offences against the Law of Nations; To declare War, grant Letters of Marque and Reprisal, and make Rules concerning Captures on Land and Water; To raise and support Armies, but no Appropriation of Money to that Use shall be for a longer Term than two Years; To provide and maintain a Navy; To make Rules for the Government and Regulation of the land and naval Forces; To provide for calling forth the Militia to execute the Laws of the Union, suppress Insurrections and repel Invasions; To provide for organizing, arming, and disciplining, the Militia, and for governing such Part of them as may be employed in the Service of the United States, reserving to the States respectively, the Appointment of the Officers, and the Authority of training the Militia according to the discipline prescribed by Congress; To exercise exclusive Legislation in all Cases whatsoever, over such District (not exceeding ten Miles square) as may, by Cession of particular States, and the Acceptance of Congress, become the Seat of the Government of the United States, and to exercise like Authority over all Places purchased by the Consent of the Legislature of the State in which the Same shall be, for the Erection of Forts, Magazines, Arsenals, dock-Yards, and other needful Buildings; — And To make all Laws which shall be necessary and proper for carrying into Execution the foregoing Powers, and all other Powers vested by this Constitution in the Government of the United States, or in any Department or Officer thereof.