Posts Tagged ‘IRS’

Ludwig von Mises Institute

Upon discovering that the Ludwig von Mises Institute is a government-sanctioned and regulated tax-free 501(3)(c) organization, I looked for their publicly-available IRS disclosures.

Their latest complete tax-exempt filing available as of February 14, 2011, is for 2007.

Despite their talk of monetary inflation being bad in all cases, they owned $4 million in U.S. Treasury Bonds in 2007 (see page 17 of the PDF), which they all sold the very same year the subprime housing bubble burst.

It also shows that they owned a total of $291,164 in 32 other securities, with their biggest holdings being in PetroChina and Royal Caribbean, which they all sold at a loss in the same year, with the exception of their Allete Inc., News Corp, Buckeye Partners and AT&T shares.

It is quite possible that most, if not all, of these stocks were gifted by donors. Yet, it is an interesting portfolio for what it does and does not contain.

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The Ludwig von Mises Institute

From their About page:

The Ludwig von Mises Institute was founded in 1982 as the research and educational center of classical liberalism, libertarian political theory, and the Austrian School of economics.

It is the mission of the Mises Institute to place human choice at the center of economic theory, to encourage a revival of critical historical research, and to advance the Misesian tradition of thought through the defense of the market economy, private property, sound money, and peaceful international relations, while opposing government intervention as economically and socially destructive.

However, from their Donate page:

The Mises Institute is a 501(c)(3) so contributions are deductible to the full extent the law allows. Ludwig von Mises Institute for Austrian Economics, Tax ID 52-1263436

They hate government so much, they’re a government-sanctioned and regulated tax-exempt 501(c)(3) organization.

Now their justification, I’m sure, is that they’re serving the best interests of the Austrian School of economics by facilitating a way for the Institute and its supporters to remove as much from the government’s tax base as their operations and donors can afford.

However, a legal requirement of their tax-exempt status is compliance with regular reporting requirements and regulations of the Internal Revenue Service, the government agency whose forerunner was formed inĀ 1862 during the Civil War administration of President Abraham Lincoln, which senior Mises fellow, Thomas DiLorenzo, aggressively attacks in his articles, and has aggressively attacked in his books, The Real Lincoln and Lincoln Unmasked.

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Seal of the United States Internal Revenue Ser...

From the IRS’ Fall 2010 publication, Individual Income Tax Returns, 2008, we see that the “progressive” federal income tax ceased to be so for those who made more than $2 million in 2008.

The effective tax rates for those who made at least $200k were (from page 11):
$200k to $500k – 19.5%
$500k to $1m – 23.9%
$1m to $1.5m – 24.7%
$1.5m to $2m – 24.8%
$2m to $5m – 24.6%
$5m to $10m – 23.8%
>$10m – 20.9%

The 13,000 who made more than $10 million paid a lower effective tax rate in 2008 than the 578,000 who made between $500,000 and $1 million.

The reason for this is made clear in the same chart, showing a steady increase in the proportion of “unearned” income from capital gains and dividends, which were taxed at a top rate of 15%, compared to the top rate of 35% for “earned” income.

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You aren't a person -- you have a person

Have you ever heard anyone say that you don’t have to pay personal income taxes in the U.S., or that you can “drive” without a license?

If so, were those ideas discounted with typical tactics employed by those who intend for you to not do your own investigation?

If not, it’s because these matters are actively discounted and suppressed by the mass media, and, ironically, by many influential members of the liberty movement.

At the start of the first segment of the August 18, 2010 episode of The Divided Kingdom, the co-host stated:

There is one element of the patriot movement that we don’t care for. That element seems to want to get people into trouble, with the IRS, or, get them to, get bizarre, what can I say, cop-outs from the system, that maybe aren’t going to be looked at, well, in other words, instead of a driver’s license, some other kind of a pass, a passport — all kinds of different things.

And from that same area of the patriot movement, we always get a condemnation of the Social Security.

By “that element,” does she mean the one that accurately states that:

  • You don’t need a driver’s license to lawfully travel by car. (Note, I said “travel” and “car,” not “drive” and “vehicle”).
  • Statute isn’t law, and you can go through a process in all common law jurisdictions to be exempt from all statutes.
  • You aren’t a person — you have a person.
  • In my estimation, makes a strong case that the personal income tax on U.S. citizens is unlawful.
  • Social Security is unlawful, as a consequence of being unconstitutional.

For more details, go to thinkfree.ca and watch some great free videos that woke me up to some of these intentionally suppressed facts and their eye-opening consequences.

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Most people consider a tax refund to be a good thing.

But is giving the government an interest-free loan really something to brag about?

That purchase you made with your big tax refund? You could’ve put that money in a bank account and made a minimum of a few percent interest (before taxes and inflation of course).

Aim to defer the most amount of taxes you can and feel is worth your time and money to file the appropriate paperwork to do so. Then brag about how you were able to afford what you wanted a lot sooner than waiting until you receive the principal on your interest-free loan to the government (otherwise known as a tax refund).

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