Latest news with #16thAmendment
Yahoo
21-05-2025
- Business
- Yahoo
Tennessee Calls for Replacing the Federal Income Tax with the FAIRtax
JACKSONVILLE, Fla., May 21, 2025 /PRNewswire/ -- On April 24, 2025, Tennessee Governor Bill Lee signed resolution HJR17 to urge the United States Congress to repeal all taxes on income, enact a national retail sales tax as specified in the FAIRtax Act H.R 25, and repeal the 16th Amendment to the United States Constitution. In the passage process, Jack Johnson, Tennessee Senate leader stated, "Keep in mind, our framers never contemplated that the federal government would tax income." He later went on to say, "House Joint Resolution 17 would urge Congress to pass the FAIRtax Act and repeal the 16th Amendment, replacing all federal income-based taxes with national retail sales taxes."The video is at: The following is the substance of the actual resolution that is available at: WHEREAS, Tennessee successfully maintains government functions without a personal income tax; and WHEREAS, Tennessee's reliance on the retail sales tax since 1947 and elimination of the state personal income tax has proven successful in attracting an ever increasing number of businesses moving operations and facilities to Tennessee, creating substantial additional jobs; and WHEREAS, Amendment 3, the Tennessee Income Tax Prohibition Act, which was approved by voters in 2014, amended the State Constitution to prohibit the levying, authorizing, or permitting any state or local tax upon payroll or earned personal income. WHEREAS, Tennessee is a model that demonstrates the success of the consumption tax versus the repressive and suppressive effects on individual production and savings. BE IT RESOLVED BY THE HOUSE OF REPRESENTATIVES OF THE ONE HUNDRED FOURTEENTH GENERAL ASSEMBLY OF THE STATE OF TENNESSEE, THE SENATE CONCURRING, that the members of this General Assembly do hereby urge the United States Congress to enact H.R. 25, the Fair Tax Act of 2023, which eliminates the personal income tax, the alternative minimum tax, the inheritance tax, the gift tax, the capital gains tax, the corporate income tax, the self-employment tax, and the employee and employer payroll tax, and replaces them with a national retail sales tax. A copy of this resolution will be transmitted to the President of the United States and each member of the Tennessee Congressional Delegation. Learn more about the truth in taxation at View the two-minute videos of The FAIRtax – What is It? and What is the Prebate? Florida Fair Tax Educational Association is a 501(c) (3) to inform and educate the citizens on alternatives to the current system of federal taxation based on the following principles: fairness, simplicity, transparency, pro-economic growth and revenue neutrality. Florida Fair Tax Educational AssociationPO Box 23346Jacksonville, FL 32241 Hand out FAIRtax literature. Get free FAIRtax palm cards and Prebate cards at Printed Materials – FAIRtax Store. References and sources: The Tax Deception by John Gaver The FairTax Book by Neal Boortz and John Linder FairTax: The Truth by Neal Boortz and John Linder Contacts Americans for FAIR Taxation Steve Hayes, President, and Randy Fischer, Marketing, 800-FAIRTAX and 395477@ View original content to download multimedia: SOURCE Florida FAIRtax Educational Association Sign in to access your portfolio
Yahoo
29-04-2025
- Business
- Yahoo
Woodrow Wilson, Tariff Slayer
Before Donald Trump, the last president to put tariffs at the top of his post-inauguration to-do list was Woodrow Wilson. But the lifelong academic and half-term governor came to bury tariffs, not raise them. Wilsons eagerness to slash tariffs offers a stark contrast to Trumps determination to wield them like a stick. But there are parallels, too. Like Trump, Wilson began executing his tariff plans early in his first term - in fact, even before taking the oath of office. In the days before his inauguration, he reached out to key members of the House, where, according to the Constitution, all revenue measures must originate. He wrote to Oscar Underwood, the Democratic chair of the Ways & Means Committee. He drafted into his cabinet Albert Burleson, chair of the House Democratic Caucus, whose duties would soon include serving as Wilsons legislative liaison on Capitol Hill, as well as postmaster general. He tapped William Redfield, whose special expertise in the House was tariffs, to be secretary of commerce. At the opening of the 63rd Congress, Wilson delivered his tariff message in dramatic fashion. He chose to become the first president since John Adams in 1800 to address a joint session in person. The packed chamber heard him emphasize hed called Congress into early session for one reason only: to cut tariffs. "It is best, indeed it is necessary," the president insisted, "to begin with the tariff. I will urge nothing upon you now at the opening of your session which can obscure that first object." There was ample context for this. Over more than half a century, high import duties on raw materials andessentials for every household had steadily increased, resulting in what politicians even then labeled the "high cost of living." Wilsons immediate predecessor, William Howard Taft, had promised a thorough-going reduction in the tariff schedules, but failed utterly when the final legislation produced by Congress proved a bazaar for special interests. Wilsons drama produced results. Less than two months after his tradition-breaking address, the House passed the largest cut in tariffs since the Civil War. Senate action and a House-Senate conference soon produced a bill slashing average rates by 35%. It was signed into law on Oct. 3, 1913. This was Wilsons first major achievement as president, and as history shows, it was an enduring one. Ever since, despite later increases in tariffs that proved temporary, U.S. government revenues have come primarily from taxes on business and personal incomes, not trade. That is largely due to another feature of the bill Wilson signed: the progressive income tax. The 1913 income tax, authorized by the newly ratified 16th Amendment, combined reduced tariffs promising lower consumer prices with a modest income tax to make up the revenue loss. It was a winning recipe, especially since the new income tax entirely exempted most of the U.S. population. Even the modest top rate of 7% didnt kick in until a taxpayer reached $16 million in income, measured in todays currency. (Although, as everyone knows, that part didnt last long.) For Wilson, prioritizing tariff reduction had been the work of a lifetime. As a southerner raised in Virginia, Georgia, and the Carolinas, he was steeped in anti-tariff tradition. The Souths textile economy, heavily dependent on exports, got no benefit from protectionist trade barriers. The young Wilsons first overt political act, at 25, was testifying against agricultural tariffs at a field hearing of the U.S. Tariff Commission in Atlanta. During his years on the faculty and as president of Princeton University, he repeatedly criticized protective tariffs in his writings and speeches. He began his political career by running for New Jersey governor in 1910. That race came only a year after a Republican Congress passed the widely unpopular Payne-Aldrich Tariff Act. Two months after its enactment, Wilson penned a lengthy article in the North American Review, deriding the law as "the ugly face of monopoly [and] special privilege." The magazines publisher (and Wilson campaign booster), George Harvey, agreed with him that the "country is red-hot over the tariff atrocity." Harvey encouraged the fledgling candidate to hammer on this major national issue during his statewide race. Timing is everything in politics, as Wilson discovered in 1910. It became the Democrats year across the nation, thanks in large measure to the Payne-Aldrich Tariff Act. The laws far-reaching effects hit consumers, businesses, and farmers alike with hefty price increases on hundreds of items. It was an intensely partisan issue, too: The final vote in the House fell almost strictly along party lines. In the Senate, not a single Democrat voted for the legislation. Especially unfortunate for Republican candidates was the fact that the nations 2,600 daily and weekly newspapers were among the hardest hit by the new tariffs. They now faced sky-high prices on newsprint after Taft used his discretion under the new law to impose a 25% retaliatory tariff on lower-cost Canadian newsprint. Unsurprisingly, thousands of editors and publishers now mounted their own retaliation in the form of spirited assaults on Republicans everywhere. On Election Day 1910, Wilson rode to victory on a national Democratic wave. When Wilson won the Democratic nomination and the presidency two years later, he carried the anti-tariff torch with him. His impressive success with tariff reform in 1913 ensured that lowering tariffs would remain a Democratic staple. A young Franklin D. Roosevelt, who served Wilson as assistant secretary of the Navy, was helped to the White House by the Republicans catastrophic blunder in the Smoot-Hawley Tariff Act of 1930. By raising the average tariff rate to nearly 60%, Smoot-Hawley ignited a worldwide trade war and cut the real value of international trade by more than 50% between 1929 and 1933. Scalded by accusations that their tariff policy had helped turn the 1929 recession into the Great Depression, Republicans gradually gave up protectionism. By the final decades of the 20th century, they were the party of free trade, willing to reduce Americas tariff barriers unilaterally as an inducement to other countries to lower theirs. Now, as the Trump administration again reverses Republican tariff policy, Wilsons anti-tariff arguments are once more at the forefront. Democrats have found their voice on trade, consistently arguing for consumers and against higher prices, while Republicans find themselves suddenly divided. Will next years elections resemble Wilsons debut in the 1910 midterm election year? Time will tell. Meanwhile, one thing is certain: Somewhere, the original progressive tariff slayer is smiling. Christopher Cox is the author of 'Woodrow Wilson: The Light Withdrawn' (Simon & Schuster, 2024).
Int'l Business Times
22-04-2025
- Business
- Int'l Business Times
Kendal Ludden, CPA, Esq. Launches '1913 The Death of US' to Reignite Constitution Literacy & Entrepreneurial Spirit
Entrepreneur, CPA, and former US Congressional candidate Kendal Ludden, Esq. announces the launch of '1913 The Death of US,' a nonprofit organization dedicated to education. It focuses on business, rebuilding America's understanding of its founding principles, and empowering all generations, including the next, with knowledge of the Constitution, limited government, and entrepreneurial independence. Named after the pivotal year when the 16th Amendment, 17th Amendment, and the Federal Reserve Act were enacted, creating the modern income tax system, shifting Senatorial elections, and founding the IRS, this nonprofit organization is Kendal's bold response to what he calls 'the systematic erosion of liberty.' "The Constitution was a perfect document before the addition of the 16th and 17th Amendments," Kendal says. "But if people aren't taught it, they won't know their rights." As a longtime tax expert, founder of the accounting firm, Better Tax & Accounting LLC , and founder of the organization Ludden4Liberty , Kendal's career has been steeped in the very system he now seeks to challenge. He began doing taxes at age eight for his mother and later earned a Master's in Taxation. While he acknowledges the irony of his professional path, Kendal says it has given him insider knowledge and fire to help others avoid blindly accepting systems that strip away their money and freedom through taxation. The nonprofit will offer an interactive learning system and experience rooted in his experience in business and law and allow others to contribute their own knowledge. The foundation will be on America's founding texts—the Constitution, the Declaration of Independence, and overlooked financial truths of the Federal Reserve System. Designed as an alternative education platform, 1913 The Death of US will eventually include a series of innovative programs. This includes the Ludden School of Law (LSL), a non-accredited law school dedicated to teaching Constitutional law from a freedom-first lens. Another program under its helm is the College of Ken Doll (CKD), a tongue-in-cheek take on traditional higher education that emphasizes practical knowledge and skills that are needed in today's world. Monkey Business School (MBS) is another unique program. Kendal states, "In this program, kids will teach kids what kids are not taught in school. And for the adults out there, you weren't taught this in school either so you need this knowledge as well!" All schools will be taught through interactive online platforms and Kendal's YouTube channel. Kendal also references a board game to explain inflation and monetary supply using real-world analogies. "When you put $500 in the middle of the board for free parking, that's a 33% inflation every 40 turns," he explains. "It's not in the rules, but everyone does it. That's what's happening in our economy." Kendal emphasizes that taxation is theft. He says, "In 1912, 100% of the federal government's revenue came from tariffs. Today, we've got an income tax system that penalizes productivity, inflates our money supply, and robs people of property through stealth taxes and regulation. We need to go back to principles that work." This educator believes that today's education system needs to teach business, American civics, and critical thinking, combined with the fundamentals of liberty. "Schools nowadays have only been teaching on how to get a job. But a job means you're 'Just Over Broke.' We need to bring back the entrepreneurial spirit and teach people how to own something, build something, and think independently," Kendal states. A self-identified Libertarian, Kendal says the nonprofit 1913 is not about partisan politics but about returning to what unites all Americans: freedom. "Everyone's a Libertarian. They just don't know it yet," he says. "Once they read the Constitution, they'll understand. And when they understand, they'll be truly free to have a nonpartisan discussion about government." While previously, Kendal ran for two Congress seats, the US House of Representatives District #10 and South Carolina State District #20, he intends to run against Nancy Mace for US House of Representatives District #1. His idea is to remove income tax and property tax and bring sound money to his district as a model to others.
USA Today
18-04-2025
- Business
- USA Today
Trump floats plan to nix federal income tax and replace revenue with money from tariffs
Trump floats plan to nix federal income tax and replace revenue with money from tariffs Show Caption Hide Caption Probable cause to hold Trump admin in contempt, judge says A federal district judge says there is probable cause to hold the Trump administration in criminal contempt of court over deportations. President Donald Trump is floating an idea to dramatically reshape how the country does it finances by using the revenue raised through his tariff policies as a replacement for the federal income tax. "There's a real chance," Trump said in an interview broadcast April 15 on Fox Noticias. "There is a chance that the money from tariffs could be so great that it would replace (the income tax). You know, in the old days, about 1870 to 1913, the tariffs were the only form of money. And that's when our nation was relatively the richest. We were the richest." Ratified in 1913, the 16th Amendment to the U.S. Constitution established Congress's right to impose a federal income tax. On Capitol Hill, details are still under wraps as Republican lawmakers this year try to pass a major tax and spending bill that is seen as the primary vehicle for Trump's second-term agenda. More: Trump's agenda kickstarted by Congress. What happens next? The president has imposed sweeping tariffs on dozens of countries around the world and claimed during the interview that the tariffs were bringing in 'two billion and three billion dollars a day.' The administration has currently imposed a 90-day pause on new reciprocal tariffs, while raising rates on Chinese goods to as high as 245% when counting the tariffs imposed during Trump's first term and the Biden administration. Money and a plane ticket During the same interview with Fox's Rachel Campos-Duffy, Trump said he wants to give money and a plane ticket to undocumented immigrants who 'self-deport.' More: Deportation politics: How Trump embraces the drama around Abrego Garcia and a Salvadoran prison 'We're going to have a self-deportation program,' the president said. 'We're going to give them a stipend. We're going to give them some money and a plane ticket, and then we're going to work with them.' If the immigrants are 'good,' the administration would work to get them back as legal immigrants, he said. 'Because you have some great people that came in,' said Trump. 'But we have very bad ones.' More: 'Null and void': Trump says Biden 'autopen' pardons are no good The Biden autopen Trump also shared his thoughts on an allegation he's made previously about former President Joe Biden and his use of the autopen - a machine used to automatically add a signature to documents. Trump has claimed some of the preemptive pardons issued in the final hours of his presidency are "void, vacant, and of no further force or effect' because Biden had used an autopen instead of signing them by hand. 'In other words, Joe Biden did not sign them but, more importantly, he did not know anything about them!,' Trump wrote in a post on Truth Social on March 17. Asked by Campos-Duffy if he believed former First lady Jill Biden was using the 'autopen,' Trump disagreed with the suggestion. 'No, I don't think so,' he said. 'They had a lot of bad people. They had a lot of radical left lunatics in there. And I think he was perfect. He was perfect for them because he didn't have a clue.' Campos-Duffy is married to Transportation Secretary Sean Duffy. Both were previously cast members of the MTV reality television show "The Real World." Swapna Venugopal Ramaswamy is a White House correspondent for USA TODAY. You can follow her on X @SwapnaVenugopal
Yahoo
12-04-2025
- Business
- Yahoo
The last-minute tax tips you need ahead of Tuesday's deadline
(NewsNation) — The deadline to file taxes in the United States is looming, with Tues. April 15 the cutoff day. It was first introduced in 1913, coinciding with the ratification of the 16th Amendment. It is the final day—barring an exemption—to file taxes without penalty. Despite common thought, you can file your taxes for free, here's how. To file your taxes, you need several documents. These include a variety of personal information and income-related data. According to the IRS, you need: Personal information: Social security number or individual tax ID number Bank account and routing numbers if using direct deposit for refunds Adjusted gross income Refund amount from previous tax return Current address Self-select PIN if you e-filed last year IP PIN if you were a victim of identity theft Tax calculator: How much do I owe in taxes? Income: Paycheck stubs W-2 form Bank statements or documents from other payment apps or online marketplaces Checks addressed to you Unemployment payments If you didn't get a W-2, you may have received a 1099 form, which shows other types of income. Common types include a 1099-K for payments received through online marketplaces such as PayPal; a 1099-G for government payments such as unemployment benefits; a 1099-NEC for contractor or freelance work; and a SSA-1099 for Social Security benefits. To take advantage of tax credits, you will need to provide other documents, such as: Childcare or dependent care expenses Home mortgage and property tax records Charitable donations Health savings account or flexible spending account contributions Health care expenses Retirement contributions Education expenses (for students and teachers) Budget calculator: Calculate your monthly budget using the 50/30/20 rule Direct File, which came into effect in 2024, is a free tool available in 25 states to persons filing federal returns directly with the IRS. The Treasury Department estimated that one-third of all federal income tax returns filed could be prepared using Direct File last year. It is available in: Alaska Arizona California Connecticut Florida Idaho Illinois Kansas Maine Maryland Massachusetts Nevada New Hampshire New Jersey New Mexico New York North Carolina Oregon Pennsylvania South Dakota Tennessee Texas Washington state Wisconsin Wyoming A transcript can be requested of your account history, which includes wage and income information from any given tax year. Through this, you can assess your payment history and the amount of money you owe. To access this, you must provide your Social Security number. To beat the tax deadline, you can receive the transcripts online. Volunteer Income Tax Assistance sites across the country are staffed with volunteers who will help you file a return or arrange for an extension for free. These volunteers can help you set up an installment payment plan of as many as 72 months to pay off any owed taxes. What are the 401(k) contribution limits in 2025? First and foremost, if you cannot meet the deadline, you can file an extension. Form 4868 is what you need to gain an extension via the IRS Free File platform. This must be completed before Tuesday's deadline. It does not extend the timeline to pay taxes. If you don't file a return or ask for an extension, then interest and penalties begin to accrue immediately. Those costs are largely avoidable if you share the information about your circumstances with the IRS in a timely way. Filing a return without paying taxes owed in full is preferable to not filing. IRS deadline for stimulus checks approaching, here's if you qualify If you don't pay all the taxes you owe by the April 15 filing deadline, interest will accrue even if you've been granted an extension to October, but that interest will be more manageable than fees that add up when you pay no taxes at all. If you've experienced unusual hardship, and you share that with the IRS, the IRS can sometimes put your account in 'currently-not-collectible' status. To do that, you share information about your income and living expenses, and the IRS determines if you qualify. NewsNation's Ashley Soriano and the Associated Press contributed to this article. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
