• Increasing the number of personal “income” tax brackets from 39 to 41;

• Maintaining the highest personal rate on amounts earned over 200,000 “dollars” at 91%;

       The act attempts to avert bankruptcy of the Social Security Trust Fund by forcing 7,500,000 small business owners—who by definition were not eligible for SS—to join the system.  And SS taxes are raised from three to four percent.  The act also  allows houses of worship to register with the Internal Revenue Service as government-chartered, non-profit corporations—provided that they renounce their Article I of Amendment Freedoms of Religion, Speech and Assembly.

       NOTE: This is the further realization of plank number two of the Communist Manifesto by Karl Marx.

       [updated 5/31/2025]

       The final step to ensuring competing currencies is to eliminate capital gains and sales taxes on gold and silver coins.  Under current federal law, coins are considered collectibles, and are liable for capital gains taxes.

       These taxes actually tax monetary debasement.  The more the dollar is debased, the more capital gains taxes must be paid on holdings of gold and other precious metals.

       Imagine having to pay sales tax at the bank every time you change a $10 bill for a roll of quarters to do laundry.  Inflation is a pernicious tax on the value of money, but even the official numbers, which are massaged downwards, are only on the order of 4% per year. Sales taxes in many states can take away 8% or more on every single transaction in which consumers wish to convert their Federal Reserve Notes into gold or silver. —- JL