SCOTUS Ruling Means Bigger, More Intrusive IRS | Fox Business

IRS officials on background tell FOX Business the U.S. Supreme Court ruling on health reform gives the IRS even more powers than previously understood.  The IRS now gets to know about a small business’s entire payroll, the level of their insurance coverage — and it gets to know the income of not just the primary breadwinner in your house, but your entire family’s income, in order to assess/collect the mandated tax.

Plus, it gets to share your personal info with all sorts of government agencies, insurance companies and employers.

And that’s just the tip of the iceberg. “We expect even more lien and levy powers,” an IRS official says. Even the Taxpayer Advocate is deeply concerned. Continue reading

MUST READ! “Dear Person Seeking a Job: Why I Can’t Hire You” | Charles Hugh Smith via ZeroHedge

Potential employers have to respond to the incentives and disincentives that exist in today’s world, and those do not favor conventional permanent employees.  I know you’re hard-working, motivated, tech-savvy and willing to learn. The reason I can’t hire you has nothing to do with your work ethic or skills; it’s the high-cost Status Quo, and the many perverse consequences of maintaining a failing Status Quo.

The sad truth is that it’s costly and risky to hire anyone to do anything, and “bankable projects” that might generate profit/require more labor are few and far between. The overhead costs for employees have skyrocketed. So even though the wages employees see on their paychecks have stagnated, the total compensation costs the employer pays have risen substantially.

Thirty years ago the overhead costs were considerably less, adjusted for inflation, and there weren’t billboards advertising a free trip to Cabo if you sued your employer. (I just saw an advert placed by a legal firm while riding a BART train that solicited employees to sue their employers, with the incentive being “freemoney” for a vacation to Cabo.) Continue reading

This Is Small Business in America: Burdened, Crushed, Doomed | charles hugh smith

“… In my opinion, it is also that the Savior State displaces and destroys even the potential for my main point community and social capital. By placing oppressive, punitive, discouraging, and unreasonable forms of taxation on individuals who may otherwise extend resources of capital towards helping their neighbors, friends, and even family. In this way, then, the State has decided to oppress and retard the development of communities….” 

via charles hugh smith