Washington State Democrats Leak Tax Plan


Posted originally on Jan 7, 2025 by Martin Armstrong 

Tax Robbery

Washington state Democrats accidentally leaked a document entitled “2025 Revenue Options” describing how they plan to hunt down citizens for additional taxes. An email containing the document and an accompanying PowerPoint presentation was sent to everyone in the Senate and entail exactly how they will wordsmith their way into extorting the people. “Do say: ‘Pay what they owe’ — but Don’t say: “Tax the rich” or “pay their fair share” because “taxes aren’t a punishment,” the graph read.

The proposal includes an 11% tax on firearms and ammunition. Storage units would be reclassified as RENTALS and seen as retail transactions. Amid the cost of living crisis exacerbated by shelter costs, these politicians believe that citizens should pay more in property taxes.

“Avoid centering the tax or talking in vague terms about ‘the economy’ or ‘education,’” the document states, instead opting to use positive connotations such as “providing,” “ensuring,” and “funding.” These lawmakers note that they must “identify the villain” who is preventing “progress.” That villain is the government, but the government needs to pin your woes on another source to create division. “We can ensure that extremely wealthy Washingtonians are taxed on their assets just like middle-class families are already taxed on theirs,” the slide reads.

The leaked document assures that this common rhetoric is intended to blind the masses into believing that tax hikes will not affect them but the dreaded “rich” who do not pay their “fair share.” In truth, no amount of taxation could ever be enough for the government as it spends perpetually with no plan to “pay their fair share” of debt.

Smart money has been fleeing blue states for this precise reason. Amazon’s Jeff Bezos notably fled Washington state for Florida, reportedly saving $1 billion on taxes alone. He moved his parents out of the state as well to avoid the death tax, which is among the highest in the nation at 20%. Governor Jay Inslee is wrapping up his term by insisting on a “wealth tax.”

The state is expected to face a $16 billion revenue deficit over the next four years and believes a 1% levy on the wealthiest residents could generate $3.4 billion over that time period. Businesses generating over $1 million annually would be in a new tax category called “service and other activities” and would be required to pay a 20% surcharge from October 2025 to December 2026. Come January 2027, successful businesses would be punished with a 10% tax. Why would anyone choose to conduct business in a state that punishes success? Innovators are not going to begin their businesses under these conditions and established companies will simply leave.

“Let’s be clear: there is a deficit ahead, but it’s caused by overspending, not by a recession or a drop in revenue,” Gildon said in a statement. “When the cost of doing business goes up, consumers feel it too. His budget would make living in Washington even less affordable.”

The state failed to manage its finances properly, and that burden now falls on the people. We see the same problem emerge at the local and federal levels. Governments feel entitled to YOUR money. Rather than correcting the root issue of spending and misallocated funds, governments believe the people they govern will foot the bill. The rhetoric is always the same as they insist they are “progressing” society by punishing the greedy and vilified rich. In truth, everyone suffers as a result of government mismanagement.

Congestion Tax in Place in NYC – A Reason to Celebrate?


Posted originally on Jan 8, 2025 by Martin Armstrong 

NYC Tax

Foreign concept but there are people who enjoy big government and welcome additional taxation. The Metropolitan Transportation Authority (MTA) held a celebration to kickoff New York City’s new congestion toll fees. That’s right – people gathered around a sign announcing the “Congestion Relief Zone” at 60th Street and held a countdown as if it were New Year’s Eve.

Motorists entering Manhattan at 60th Street or below will be charged $9 if in a car or SUV, $14.40 for non-commuter buses, $21.60 for big rigs, and $4.50 for motorcycles. The Metropolitan Transportation Authority needs to cover a $33 billion budget deficit, and per usual, the people are on the hook for the bill. The MTA is seeking to generate $68 billion over the next five years, and this congestion tax is one of many new fees coming to NYC area as the new toll tax is expected to generate a mere $15 billion.

Governor Kathy Hochul is utterly clueless. She plans to bribe families with an “inflation refund” by shelling out $500 checks to households in a move that will cost the state $3 billion. We saw this fail during the pandemic when citizens earning beneath a certain threshold were bribed to stay complacent. Hochul said she would not raise the income tax in 2025, but nothing is ever off the table.

“Your tolls pay for: better transit, cleaner air, safer streets, a livable NYC. Thanks!” one resident shared on a sign that they brought to the opening ceremony. Seriously, these people have no idea what they are celebrating. Commuters who cannot afford the tax will be forced to take the trains which are notoriously unsafe. In fact, there was a stabbing on the Metro-North on the very day that the congestion relief zone was implemented.

Rideshare programs have been lobbying for this tax for years. Uber paid $2 million from 2015 to 2019 to encourage congestion taxes. Lyft personally donated $18,500 to Kathy Hochul’s campaign to champion congestion taxes. Both companies plan to raise fees to cover the cost of the tax. “We spent millions of dollars funding message testing, research, lobbyists and grassroots organizing to help those that have been fighting for congestion pricing for decades,” Uber admits in a statement on its website, later stating, “We do this because we are a for-profit company and good, robust, public transportation is good for business, reducing the need for car ownership and increasing use cases for Uber.”

“Congestion relief” is political rhetoric. It’s NEW YORK CITY — one of the busiest cities in the world! Goods and people must still enter the city, and these fees quickly add up. The people are on the hook for the budget deficit and the people are also on the hook to cover the fees that will ultimately be passed down to consumers. It is absolutely astounding that there are people who cheer higher fees as a result of government mismanagement.

The Libs of Canada Did Not Get the Message


Posted originally on Jan 7, 2025 by Martin Armstrong

Justin from Canada Expected to Resign This Week


Posted originally on the CTH onJanuary 6, 2025 | Sundance 

It’s not just the United States of America standing up and electing President Donald J. Trump.  The nationalist vessels are being identified in many countries right now as each regional nuance and difference is working through a process.

Germany, France, the U.K, Georgia, Romania, El Salvador and Argentina are small examples where the organizing of commonsense people is also navigating through the systems of control.  The voices of the people are rising organically.

In Canada one of the modern WEF globalists is now indicating his exit.  Justin Trudeau is expected to resign.

NY POST – […] Three sources told the Globe and Mail, a Canadian outlet, on Sunday that Trudeau, 53, could reveal he’s leaving as Liberal Party Leader before a critical national caucus meeting on Wednesday.

It was unclear what day he could announce his resignation, but it reportedly could happen as early as Monday, the sources said.

The bombshell report comes as an embattled Trudeau has faced increasing calls for his resignation as a Donald Trump presidency – and the threat of 25% tariffs on all products north of the border – looms large.

The prime minister was struck with a devastating blow after his then-finance minister, Chrystia Freeland, quit last month over a deepening divide between the two over the future of Canada’s economy. (read more)

Justin from Canada has been an unstable boy-child with a speech impediment and an emotionally unstable disposition for a long time.  He personifies the leftist hero for modern feminists.

Slovakia v Ukraine and the EU on Energy


Posted originally on Jan 3, 2025 by Martin Armstrong 

Slovakia Parliament

Slovak Prime Minister Robert Fico has nearly accepted that his country will be forced to pay an additional €500 million for energy due to Ukraine’s refusal to renew the Russian gas transit treaty. Zelensky believes Fico is Putin’s puppet, but the man is simply looking for a way to provide his people energy. Tensions are worsening between Zelensky and Fico, and now, Fico is threatening to cut aid to Ukraine.

“On behalf of Smer (the ruling party), I announce that we are ready to negotiate and agree in a coalition to cut off electricity supplies and significantly reduce support for Ukrainian citizens staying in the territory of the Slovak Republic,” Fico noted a day after the existing transit treaty expired.

Leaders from Ukraine, Slovakia, and the unelected leaders of the European Union will meet next week to determine the proper steps which likely means they will find a way to pressure Slovakia to continue aiding Ukraine without compromise.

Zelensky with EU leaders

Fico threatened to cut off energy supplies to Ukraine, but Zelensky basically stated he knew that he would be overpowered by the EU and prevented from doing so. “Any arbitrary decisions in Bratislava or instructions from Moscow to Fico regarding electricity will not lead to a halt in electricity imports to Ukraine,” Zelensky said, adding: “Slovakia is part of the unified European energy market, and Fico must abide by pan-European regulations.” Ukraine’s Foreign Ministry chimed in to say that Slovakia would stand to lose hundreds of millions annually if they stopped selling to Ukraine. “Slovakia’s supply of critical amounts of electricity to Ukraine is not charity: Ukraine pays Slovakia a significant amount for it,” the ministry stated.

Moscow is not strengthened by this gas transit deal and granting transit would show good faith to Slovakia, who has provided Ukraine with millions in assistance since the war began. The underlying issue is that Fico wishes to remain neutral in this war. The European Union wants every member state to fear Russia and prepare for an escalation of warfare. The unelected officials at Brussels consistently undermine their own member states and it is only a matter of time before members wake up and realize that this alliance is working against them.

Retail Closures in US Hit Pandemic Levels


Posted originally onJan 2, 2025 by Martin Armstrong 

StoreClosuresRetail

Over 6,481 retailers have closed their doors since the beginning of the new year, according to data from Coresight Research in November, but that figure is expected to reach 7,327, marking a 57.8% increase in closures since 2023.

During the pandemic, closures exceeded openings by 180 stores in 2020, with the gap widening in 2021 to 6,000 retailers. There were 5,919 store openings in 2023, barely easing the burden. While online shopping has nulled the need for many brick and mortars, the types of retailers that experienced the steepest declines are telling.

Nothing at the dollar store costs a dollar. That changed years ago during the pandemic, thanks to tariffs and supply chain issues. Retailers had to mark up these cheap goods to make a meager profit. As a result, Family Dollar shut their door to 677 locations and 99 Cents Only stores shed 371. Big Lots, also known for selling discounted items, has been forced to close 580 locations, although the bankruptcy played a larger role.

Rite Aid also experienced bankruptcy in 2024, closing 408 locations. Pharmacies, in general, took a major hit this past year. Walgreens plans to close 1,200 locations over the next three years and lost 259 locations in 259. CVS closed 586 locations as well. The convenience of picking up items while at the pharmacy does not overshadow the need for a discount. People are not willing to pay more for essentials at the pharmacy when they can receive them for a discounted price elsewhere. The same goes for convenience stores like 7-Eleven which shed 492 locations in 2024 with plans to close another 400 worldwide.

Another major contributing factor is the workforce – people do not want to work low-wage jobs that do not support their cost of living. Enter any pharmacy or low-end store, and you will find a severe shortage of workers. One pharmacy by me that is part of a major chain is only open two days a week because they simply do not have the staff to keep it operating.

There is a reason that retail closures are at their highest level since the pandemic. Americans are spending more on less and their spending habits are shifting from convenience to practicality.

Can Britain be Saved form Extinction?


Posted originally on Dec 30, 2024 by Martin Armstrong 

British Extinction 2025

QUESTION: Dear Martin,

Merry Christmas to you, your family, and the Armstrong Economic team. All of you have worked tirelessly to help humanity.

A question about the UK: you have discussed saving the USA and that your proposal would always work in the EU. What about the UK? You say Trump is married to old theories. What about Nigel Farage?

Thank you for everything you do.

Ash

ANSWER: Starmer’s approval rating has crashed. Now, 61% of Britain disapprove of his policies.  Even though Labour has an overwhelming majority and can pass anything they want, the reality is that our computer does not show Starmer will survive until the next election in 2029. This is a special report with the proposal to save Britain, and it can be done if Nigel Farage dares to lead the entire world to a new economic freedom. Once one nation rejects the old theories that not even central banks can use anymore, the rest will follow. I would say the two countries that could show the way forward for the future are Britain and Argentina.

I will let everyone know when this report is ready for prime time.

Gold Clause & CBDC


Posted originally on Dec 30, 2024 by Martin Armstrong 

CBDC

QUESTION: Regarding CBDC, will they convert all the savings/cash in your bank account, will they convert everything in your brokerage accounts (all stocks etc.) will they go after gold and silver you have in storage (Brinks, for example)?

KS

ANSWER: Everything will be converted to the new CBDC. The money in your bank account is already just an electronic book entry. This is why banks are closing branches everywhere in the USA as well as Europe. They are preparing for CBDCs, which means without physical paper money, bank branches are no longer needed. You can deposit a check on your phone. The only thing left for a branch is safe deposit boxes, and the government assumes you are hiding cash there anyway. So kiss your local branch goodbye. The local bank I used because it was the closest has closed, and it is now a 30-minute ride to the closest one still open.

We the People

The monetary system will still function as normal. The exchange will probably be one-for-one. The main purpose of this is to destroy the underground economy to be able to tax everything – even the 16-year-old girl next door you hire to babysit while you go out to dinner and that $100 bill you found in the parking lot that you cheated the government out of their 50% gift tax. We are all looked down upon as scum. They presume we are all guilty and the whole debt crisis is never their fault – it is you – we the people.

1913 Income Tax

This is the natural progression of direct taxation – the complete loss of all liberty. This is why the Founding Fathers prohibited direct taxation. But the socialists seized the government and followed Marx to get the evil rich. It was introduced with the promise that only the rich would have to pay. They lied about that as well, for as soon as the income tax took place, simultaneously in the same bill, there was the payroll tax demanding employers withhold income from their workers.

1912 Vermont Income Tax
1913 Feb 4 LA Times

The federal income tax of 1913 was accompanied by the fact that the law also attempted to withhold the brand-new income tax because the people were never to be trusted. Initial estimates were that the withholding provisions would yield two-thirds of income tax revenue, but in 1916, less than 5% came from withholding. Furthermore, employers’ simple lack of compliance led to a massive groundswell of opposition to the new withholding system.

Minneapolis Payroll Tax

The people realized that the government lied to get the 16th Amendment passed, and the state politicians voted for it because it allowed them to also allowed them to impose income taxes at the state level. Even cities joined the money grab, imposing city income taxes. Every layer of government now had the right to extort money from the people based on their income, requiring disclosure of their personal lives. You gave your children money, which was circumventing income tax, so they rolled out the gift tax. , which fueled the corruption on a massive scale. The Revenue Act of 1862 included an inheritance tax and gift tax, which applied to transfers of personal assets. In 1864, Congress amended the Revenue Act, added a tax on transfers of real estate, and increased the rates for inheritance taxes. They have always used war to justify raising taxes, but they always remain in place thereafter. The War Revenue Act of 1898 implemented an inheritance tax of .74 % to 15%, which was used to fund the Spanish-American War. This is why the government loves to wage wars.

Who Creates Money?


Posted originally on Dec 30, 2024 by Martin Armstrong 

big stack of money

To a large extent, there is still much confusion regarding the creation of MONEY. Some people still think the government actually creates money as if it were in ancient times. When I say MONEY is no longer TANGIBLE, but it is VIRTUAL, many seem to fail to grasp just how much the world has changed. In ancient times, the state minted the coins AFTER 600 BC attempting to certify the weight to facilitate commerce. However, the government quickly learned that there was profit to be made, which is known as the “seigniorage,” referring to the difference between the intrinsic value of the metal and the declared value. In such a world, the state predominantly created money supply, discounting leverage from banking and counterfeiting.

Today that is about as far removed from how the economy functions as the next inhabitable planet. In the example I used that if a foreign investor buys domestic real estate, he is increasing the domestic money supply. The conversion of his local currency to the domestic currency is NOT dictated by some FIXED quantity created by the central bank. It is just electronic. Nobody actually prints anything , and the central bank does NOT even create electronic currency. It is just a book entry. Because the foreign investor is bringing in cash and buys a TANGIBLE object (real estate), the net amount of cash in the domestic supply of money increases the same when the Fed bought US bonds under QE2. Banking also LEVERAGES the economy by creating MONEY. If you have $1,000 on deposit and I borrow $1,000, we both now have accounts reflecting $1,000 each. Again, the state did NOT create that money.

It is once more a book entry. This is how a BANK PANIC will take place. You go to the bank trying to get your $1,000, but the bank actually lent it to me. As long as you do not try to take out that $1,000, everything is fine and dandy. Therefore, MONEY is not TANGIBLE, and it is purely VIRTUAL! The idea that MONEY is supposed to be some TANGIBLE object actually ended in 600 BC once government got involved and began to manufacture a profit from creating money. As long as the economy is free, then you are free to keep your wealth in whatever object you desire, be it gold or real estate. MONEY is NOT a store of value, for it has always fluctuated, rising in purchasing power in recessions (NOW) and declining in booms.

Police Officer Dressed as the Grinch Makes Drug Bust in Peru


Published originally on Rumble By The Gateway Pundit on Dec 27, 2024 at 7:30 pm EST