Posted originally on Oct 24, 2024 By Martin Armstrong |
The Internal Revenue Service (IRS) released new tax bracket information for 2025. Most tax thresholds increased by 2.8% compared to 2024. The report, released ahead of the election, claims these changes will prevent “bracket creep” where inflation propels taxpayers into higher brackets. However, the tax breaks imposed under former President Donald Trump come to an end after 2025 if no action is taken and this could be the lowest tax season for many years to come.
The bottom 10% level now applies to those earning up to $11,925 for single filers and $23,850 for married couples filing jointly. The top 37% rate covers incomes over $626,350 for single filers and $751,600 for married couples filing jointly. The standard deduction has risen to $15,000 for single filers, up from $14,600 in 2024, while married couples can claim $30,000, up from $29,200.
The 2.8% modification for 2025 is less than the inflation adjustments made in recent years when we saw an adjustment of 5.4% in 2024 and 7.1% for 2023.
Now, the Tax Cuts and Jobs Act (TCJA) of 2017 enacted by Trump will expire next year if Congress fails to take action. If this legislation expires, we will revert to pre-2017 tax levels. The media highlights that the dreaded rich would be forced back into a 39.6% tax bracket compared to the 37% they now pay, but everyone could see a sharp rise in the money they owe Uncle Sam.
The state and local tax (SALT) deduction would also expire. This program currently places a $10,000 cap on state and local tax deductions. State and local governments would have the ability to raise taxes if this is repealed. Some agencies estimate reversing this measure would up federal revenues by $1.1 trillion over the next decade – they’re eager to destroy this provision.
A reversal of TCJA would bring standard deductions down to $16,525 for joint filers and the personal exemption rate would be $5,272. Small businesses were awarded a 0% deduction under TCJA for S-corporations, sole proprietorships, and partnerships. Twenty percent is significant for small businesses that are largely struggling to stay afloat in this economy.
Trump’s tax plan actually increased the child tax credit, doubling it from $1,000 to $2,000 not adjusted for inflation. Brookings Institute believes that repealing this measure would make the real value of this credit 25% lower than 2017 due to inflation.
Estate tax exemptions doubled under Trump’s tax plan. If this measure dies the exemption will be about $14.3 million for married couples and $7 million for individuals.
The government will become more totalitarian as it sees costs rise significantly in the face of war. Per usual, the people of the United States will be expected to foot the bill. The last revolution began through taxation. It is a matter of time before we see how the next one begins.
Marginal tax brackets for tax year 2025
Single filers
The table shows the income brackets for married couples filing jointly for the 2025 tax year.
Taxable income
Tax rate
$11,925 or less
10%
$11,926 to $48,475
$1,192.50 Plus 12% of amount over $11,925
$48,476 to $103,350
$5,578.50 Plus 22% of amount over $48,475
$103,351 to $197,300
$17,651 Plus 24% of amount over $103,350
$197,301 to $250,525
$40,199 Plus 32% of amount over $197,300
$250,526 to $626,350
$57,231 Plus 35% of amount over $250,525
$626,351 and above
$188,769.75 Plus 37% of amount over $626,350
Source: IRS
Marginal tax brackets for tax year 2025
Married filing jointly
The table shows the income brackets for married couples filing jointly for the 2025 tax year.
Posted originally on Oct 23, 2024 By Martin Armstrong
“Neutral like Switzerland” can no longer be a saying as the Swiss government has announced it is joining the European Sky Shield Initiative (ESSI) to develop a shared missile defense system across Europe. Switzerland is neither an official member of the European Union nor a member of NATO. Yet, the nation forfeited its neutrality stance years ago as Swiss leaders continued to adopt globalist rules.
The ESSI was initially proposed by Germany in 2022 amid the Russia-Ukraine war. The program will integrate with NATO’s Integrated Air and Missile Defense (IAMD) to enhance Europe’s air defenses. The powers that be know war is on the horizon, but they are betting on most of Europe continuing to fight on the same team. Armament chief Urs Loher has signed the memorandum of understanding (MoU), officially making Switzerland the 15th nation to join this coalition.
Switzerland claims that the MoU does not force it into any binding obligation as the government may choose its level of involvement. The Swiss government also claims that it may withdraw from the ESSI if any member becomes involved in a war. “With its participation in the ESSI, Switzerland is increasing international opportunities for cooperation: ESSI enables better coordination of procurement projects, training and logistical aspects in the area of ground-based air defense,” the government noted in a statement. The initial project will protect Europe against medium-range missiles, but naturally, the plan is to accelerate this technology.
Switzerland lost its tax haven status years ago when it began offering up banking information to foreign governments. Switzerland completely capitulated its historic safe-haven status to the entire world. The country was born from a tax revolt against the Hapsburg dynasty in Austria. The tax collector made William Tell to shoot an apple off his son’s head with an arrow. Switzerland then remained neutral in war and religion, serving as a safe haven for those who would be religiously persecuted. All of that is now gone.
In 2015, the Swiss Senate passed a resolution to exchange ALL information on anyone who has any assets in Switzerland. They have surrendered their sovereignty to this worldwide effort to destroy the entire global economy because politicians can never run any government efficiently.
Of the nation’s three main sectors, the tertiary sector is the most important for the Swiss economy. It includes banking, insurance, and tourism, employing more than 75% of Switzerland’s workforce. Over a fifth of the working population makes up the secondary sector, i.e. industry, trade, and crafts. The machine, metal, watch, and textile industries play a significant role, as do the chemical and pharmaceutical industries, which rely heavily on imports and exports. By far, banking was a major sector at the top of the list.
The Swiss economy was built on its banking expertise and security. That is now gone in the age of hunting cash globally. Consequently, the economy of Switzerland lost its primary competitive advantage economically. Now it must develop industries that are competitive globally. It needs more than chocolate and Rolex watches.
Yet, we saw over COVID how tyrannical the Swiss government has become though countless regulations and threats to imprison any dissenters. They even outlawed singing in public in the name of COVID simply to see how far they push the masses. It comes as no surprise as the nation is part of the globalist agenda for the Great Reset and Agenda 2030. They toyed with the idea of imprisoning citizens for heating their homes in the name of climate change, as one example. Swiss authorities have utterly change the demographics of their country by permitting mass migration as the population surpassed 9 million for the first time in history.
Then, the Swiss government was eager to aid Europe’s proxy war in Ukraine and placed sanctions on Russia. “Russia’s military aggression against Ukraine is a serious violation of the most fundamental norms of international law and is without precedent in recent European history. Within the scope of its political room for manoeuvre, the Federal Council took this into account in its decision to join the EU sanctions,” the government stated. Is that neutrality? If someone loaded your enemy’s gun, would you consider that person to be neutral?
Switzerland continues to claim neutrality. “Neutrality is not set in stone; on the contrary, it is an instrument of foreign, security and also economic policy that must be adapted to the prevailing political climate. The Federal Council has in the past regularly examined and adapted its understanding of neutrality; for example, it did so through the neutrality report of 1993. The war in Ukraine is challenging the existing international and, above all, European security order,” states the Federal Department of Foreign Affairs (FDFA).
Russia already sees that Switzerland is aligned with the West and rejected the nation’s offer to mediate peace talks in 2022. Switzerland has managed to maintain neutrality for 500 YEARS. The globalist neocons who infiltrated all government cabinets have compromised Switzerland and are stripping it of everything that once made it a great nation.
Posted originally on Oct 22, 2024 By Martin Armstrong
The core reason that the establishment is suddenly interested in climate change comes down to one main factor – money. More specifically, the establishment is hunting down YOUR money through taxation. A second motivator is limiting our freedom of movement by demonizing fossil fuels and limiting our ability to travel. The European Union is now seeking to punish those who fly more than once per year with a frequent flyer tax.
The EU has already implemented an aviation tax, but the new proposal is designed to punish the pesky “rich,” but per usual, everyone will suffer. “A frequent flying levy would be a fair aviation measure, reducing excessive flights for wealthy passengers, while raising revenues – including to expand and provide affordable railways and public transport,” the Stay Grounded network told Euro News.
The new levy would target everyone flying from the European Economic Area (EEA) and the UK. The standard aviation tax would apply for the first two flights taken per year, but an additional 50 euro surcharge would be applied to medium-haul flights while long-haul, first-class, and business flights would cost an additional 100 euros. Then they are adding an additional 100 euro fee after the fifth flight on top of the initial surcharge. People will be expected to pay an additional 200 euros for their seventh flight and 400 euros for the ninth.
Lawmakers believe this tax would increase current EU aviation taxes six times over and cover 30% of the overall budget, the budget that those same lawmakers can never adhere to. Some organizations believe authorities can collect up to 64 BILLION euros per year.
But that is never enough for those in government. There are also rumors that aviation will no longer be exempt from VAT and fuel taxes, which would automatically raise the cost of flying for everyone.
If government restricts the freedom of movement with respect to people, trade, ideas, communication, and good and services, the world economy cannot possibly survive and this places us at risk of a frightening Dark Age all because governments fear losing power and are desperate to hunt money for confiscation.
We must do everything possible to avoid this war as it has the strong potential to go nuclear. If so, if we can’t stop it, the best scenario we could et would be a limited use of nuclear missiles that take out some of the major cities in the EU, North America and China.
However, depending how many, this could result in a collapse of the various governments therein taking us back to the technology levels of the last quarter of the 19th century. The reason being that there will be little to no electricity generation or transmission and gasoline will be very hard to get. Further, the fallout of radioactive particles and the lack of food or water will probably kill a billion people. But worse is the lack of the internet and cell phones. Without the web how can we communicate? or know wht is going on So, why would any politicians. in his/her right mind. let this happen, since the potential is so devastating?
The answer can be found in The World Economic Forum (WEF) created by Klaus Schwab in 1972 and the US neocons who have wanted to destroy Russia after the USSR dissolved in 1991.We also have Bill Gates who desperately wants to reduce the world’s population and George Soros who developed the open border concept and President Biden authored it on day one of his 2021 four year term. The WEF is run by Klaus Schwab and he is the master mind of the redo of Western Society into a one world government. He sells it as “The Great Reset & Build Back better” assuming that there is not a nuclear war The result of this change will probably be a world much like George Orwell’s 1984. If you want to know what is coming read that book
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The core of the problem is uncontrolled human nature. Which manifests itself mostly in some men that have the mistaken idea that they can rule the world? That tendency was restrained by Christianity, the Ten Commandments and the US constitution but starting in the late 1940’s a movement was started to eliminate religion from our country and by the end of the 20th century that has been accomplished. Now for all practical [purposes there are no checks on the power being concentrated in Washing DC. The administrative state and the neocons now rule the country. However, those that want the power the most are have come from the training of the World Economics Form training program and here is a partial listing of the players.
Currently we have the following: Klaus Schwab, Bill Gates, George Soros and the us neocons (for example: Dick Cheney, Liz Cheney, John Bolton, Kimberly Kegan, Lindsey Graham, Robert Kagan, Vitoria Nuland, Hillary Clinton, Anthony Blinken) to name a few. These dozen people along with many others like Anthony Fauci that do what that power and they want are seeking to rule us. By starting a war between Ukraine and Russia.There are trying to egg on Russia to make to first move and then they will destroy Russia.
The conversion process of our Republic into a tyranny is now in the final stages. But it was a long road that started with Darwin and his The Origin of the Species in 1859 then Karl Marx and his Das Kapital Volume I in 1867, and then with the creation of the Income Tax in 1913 with the 16th amendment to the Constitution. FDR continued the work starting social programs like Social security. Just for the record, the collected payroll funds initially went into a government fund so it was like putting the money into a govermet bank. But that didn’t last long as President Johnson wanted to spend that money so he took it and put an IOU in its place. That means that if current payroll taxes do not cover current payout then the IOUs in the fund need to be cashed in to cover payments.
All the countries in western society are now trapped, by the social welfare programs they created, as they will no longer be able to support current payments and no one will buy any more government bonds. When that happens and we are, right on the edge now, so when the governments can’t make any payments they disappear. Much like what happened to Rome.
What the WEF is trying to do is to start a major war, not nuclear, and then cancel all they debt. Ideally, they will switch to all digital money, no cash, or coins that will give them total control of the population; just like China.
There is one more issue to address and that is free speech. China has already solved that problem with tracking everything a person does or says, especially on line. The reason we have 5g is to handle that volume of the business traffic from the cell phones (no cash). Then if the AL software sees anything that you have done or said and if what you said or did was not permitted you are given a black mark in your social score and if your social score passes a target amount you can be blocked from traveling or lose your job and worse you would be put in jail. This is as if you are living in the world of the book 1984 except it would be 2025 if Kamala becomes president.
There is a quick summary, of my background, which can be found at the end of this paper, In four paragraphs. It’s there only to show I have the background necessary to make the claims in this post. Now continuing the discusion we have a short summary of a paper I wrote on this subject about a month ago. It’s long with a lot of detail, so rather than copy it here there is a link to it at the end of this blog post you are reading.
Prior to Darwin it was generally accepted that there was a God who had created the earth and humans. In particular in christianity and explained in the Ten Commandments. Believing in God and the hereafter put a partial brake on power and it was a key element in writing the US Constitution with the Bill of Rights. The combination and Bill of rights made it difficult to create a powerful central government but they did work at it especially after the civil war.
Dwain’s theory was that random changes can explain how we evolved from the simple first bit of life that developed millions of years ago. Darwin’s theory was wrong but that wouldn’t be proved until the next century. There is another link at the end of this paper to a post here where I prove the existence of God.
Continuing, next we had Karl Marx and his theories which were also wrong but that was not to be proved until later. Marx also did not belie there was a God. His theories are false and do not work but again that is a discussion for another time. However from that late 19th century through present times the politicians that love and crave power bought into Darwin and Marx theories since the combination (if believed) was that there were no limits to power as there were no consequences since there was no GOD and no after life. Adolf Hitler Josef Stalin and Mao Zedong are prime examples of what that unlimited power will bring. They killed somewhere between 136 million to 167 million; including military, civilians and the conversion to Marxism from 1918 to 1991 when the USSR collapsed.
While that was going on there was also a similar movement going on in America to convert to Marxism. During President Wilson presidency, he started the process by supporting the 16th Amendment allowing the federal government to tax the people which was not allowed in the Constitution, for good reason. There was one other Amendment that was also bad and it was the 17th Amendment. This changed that a senator was no longer appointed by the state government but elected by the people, This was also a bad idea as it took power away from the states and created unlimited terms for the senator which also proved to be very bad.
One must also keep in mind that prior to the US civil war there was one large political unit and other small ones. The large one was the Democratic Republican party. Slavery in the South had always been a problem and the Democratic Republican party split in two which was mostly the North and the South. The Republican North believed in the Constitution and small central government. And they were against Slavery. The South believed in big government and was for slavery. They were diametrically opposed to te republicans. After the South lost the war they never gave up there need for power and did what they could to hold down the former slaves with The Ku Klux Clan, Jim Crow, poll taxes and separate facilities for the former slaves.
Actually, slavery was going to disappear anyway as we were now in the industrial revolution and picking cotton was now done by machines. We studied that in my econ courses. President Eisenhower started the process of breaking up the discrimination of the former slaves by outlawing segregation in the schools in the south with the Civil Rights act of 1967. He sent the army to Little Rock to enforce that act. He also started the interstate highway system and warned us of the military industrial complex. That is a major problem today,
During this period of time, from the Great depression the Democrats never gave up their lust for power and now with the ability to Tax the people they did so in incresing levels until today. The problem with the taxes being used for benefits (Freebees) is it also takes away from the economy growing by the people buying things. If you take money away for the people then have to spend less. The government is actually a drag on the economy. Margaret Thatcher told us in November 3 2023 “The Problem with Socialism is that you eventually run out of other people’s money” and you can’t Brower any more from anyone.
The New Green Deal passed in the Biden administration is a massive amount of spending with Bowered money estimated at 93 trillion over 10 years. No government program as ever cost les and many times a lot more. The US debt is presently over $35 trillion and it was about $25 trillion four years ago. The spending problem starts in 2008 when it was only 5 Trillion.
The Treasury Department reported that the U.S. government, for the first time, has spent more than $1 trillion this year on interest payments for its $35.3 trillion national debt.
The chart below is for 2023 showing income funds and outlays. 2024 will be worse
If kamala becomes President on January 20, 2025 it will be a very short period until the country runs out of money and collapses as no one will buy government bonds and we would be forced to default on what we owe. many countries are see that and already getting rid of the US Bonds they own They can do this by using the bonds to buying land and companies in the US.
In my opinion there is only one person in the county that can mitigate what the Biden admiration has done to the country. And I do have the education and experience to make that statement.
What follows Next are some related posts and videos
This one give a way for the US Government to blame Russia for the bridge destruction and allows them to declare war against Russia when is what the neocons want.
There is a lot more I could add here but most of it is also in the above posts. The bottom line here is we will be at war very soon and we need to be prepared for what is coming. I hope tp God the aTrump wins and gets into office as even if he can’t stop what already started it should be able to midagate what was already started. He is our only Hope!
My Related Background
How can I say what I put in the title of this post? Well for starters, I have a undergrad in Business Administration and I had a major in Economics taking every course they had at OU and got an A in all of them except one in history. As I thought what did those old guys know. Much, later I realized that I was very wrong and the new system that just came out at the beginning of WW II in a book written by John Maynard Keynes ” The Greneral Theory of Enployment, interest, and money” which would decades later be one of the downfalls of the country.
After collage, I joined the Army in the summer of 1965 and became an officer and then a Green Beret which gave me another set of skills which back then was how to undermine a government. In this, case Russia, by learning how to take over a country with guerrilla warfare. The focus was Russia that had turned to Marxism after the end of WW I. The Green Berets were sent Vietnam in 1962 on a counter guerrilla mission. I got there in September 1967, as a first Lieutenant, and was wounded in December 1967. I did stay in the army for a total of 4 years and made Captain before I completed my enlistment.
After the Army I worked mostly as an engineer as almost all the men on both sides of my family were either degreed engineers or in the skilled trades. In my dad’s case he taught himself electrical engineering mostly in electronics and he taught me how to design and build things one of which was a Radio controlled robot that won 1st place in the Cleveland Science fair in 1959.
In the early 1980’s, I started a tech company by raising almost a million dollars and as part of that, I went to CASE and got a master’s degree in tech marketing in 1986. I was also put in the Beta Gamma Sigma honor society. The company was on the path to a product, in what would be the commuter/phone industry, to support that market (That did not yet exist) I wrote up some patens which were issued. However, some of the investors didn’t think that would ever be and so they wanted to drop that line to work on other items. I knew they were wrong and so I sold my shares and went on my own until I retired a few years after 9/11. I was right and the market ended up being a multibillion dollar one making other companies that bought the tech from my company.very rich
As an aside during the 90’s and into the 00’s and because of my background I started to see patterns that seemed to be what “we” would do in Special forces to take over a government and create a different political system. For us back then it was to get rid of Communism.
From the early 1990 until around 2005 I started to read every book I could find on forms of government, warfare, phycology, Climate, Religion, and anything I could find on current events. In total I acquired several hundred books that I added to the hundreds of books I had going back to college. And in addition, what my mom and dad had as they were both gone by the 90’s. Now I haveclose to a thousand books on all kind of subjects.
One of the most interesting was a book titled The Fourth Turning written by Strauss and Howe in 1997 which showed that there was a cycle to war and society that was around 80 years. The book indicated that the time we are in now would be a major war. By 2005 I could see that there predictions were very accurate.
Around 2012 I created a blog where I reposted and/or wrote on the subject of where the US was gonging. The more I read and found on the web the more I could see that we were not headed in the right direction. An example in 2020 when COVID was let lose by Fauci and Trump created a team so they could help stop it. During the period there were many doctors that were treating COVID with Hydoxychloroquine and/or Ivermectin and Fauci went nuts claming it was a poison and neither one didn’t work with COVID. Well as a Vietnam vet who took Hydoxychloroquine to prevent malaria, so it wasn’t harmfull. And it was used all over the world for that purpose. So I knew Fauci was a criminal as millions died by not taking it ealy when the siymptoms first came out. The reason Fauci did this was that when a new treatment comes out it can’t be used without permission if there are other treatment avilable. Fauci made a lot of money by forcing doctors to only use the mRNA experimental gene treatment. They even changed the definision of a vacine since it is not a conventional vacine. As a consequence the US had one of the worse results from the COVID pandemic.
Lasrly, somewhere in this period, I found “sondance CTH” who has incredable sources and another blogger Martin Armstrong that had created an AI program in the 1970’s that is increasable accurate in prediction the future. I have followed him ever since. And his AI program is never wrong.
I have created this site to help people have fun in the kitchen. I write about enjoying life both in and out of my kitchen. Life is short! Make the most of it and enjoy!
This is a library of News Events not reported by the Main Stream Media documenting & connecting the dots on How the Obama Marxist Liberal agenda is destroying America
Centinel2012 