Watch the video with Ron Paul and Joseph Banister discussing income tax collection and follow along with my review of what’s being said:
0:07 — Dennis Miller? Is he still on TV? He was good on Saturday night live but has pretty much disappeared off the face of the earth. Want to know what’s even more surprising to me? Donald Trump has been silent about the IRS… and they seem to be silent about him. A quick search for “Donald Trump IRS” reveals an interesting article in People magazine about Donald Trump’s high-end spending as an allowable deduction, simply for being “The Donald”!
0:25 — The 861 position refers to an individual’s attempt to avoid tax obligations and refuse to pay income taxes. The IRS promises to take vigorous enforcement actions against promoters, protestors and tax preparers who claim this loophole. You can download a PDF from the IRS about the 861 position. If you search online about the 861 position, you’ll note that there is a lot of stuff. But be warned – it’s not all quality material. I’ll distill some of it on this site for you and save you the trouble of sifting.
0:32 — $300 billion dollars that tax cheats cost the US Government? Have you ever wondered where they arrived at that number? So have I.
3:42 — Guns and butter: Congressman Ron Paul is referring to the simplification that a government needs to determine how to spend its money: On defense? Or on civil spending? This is the tension that every government faces – do they spend money to protect the borders or do they spend money to feed the people? It’s a difficult choice because there’s a balance, but every dollar needs to be allocated one way or the other. Read more about the Guns versus butter model.
4:09 — $700 billion deficit… a billion here, a billion there, pretty soon you’re talking about serious money! – Ron Paul
4:57 — Tax avoidance to tax evasion. You’re probably already familiar with the difference, but I’ll be talking more about this in upcoming blogs. Watch for it!
5:37 — “How have you gotten away with it? (not paying income taxes)”. Is it me or did Mr. Banister not seem too impressed with the “gotten away with it” comment? It’s even funnier about 30 seconds later when they post the graphic entitled “Got away with it”. It’s as if Maria Bartiromo is saying “in your face, Banister”.
6:07 — 2.5 million people aren’t filing returns and 75% aren’t pursued!
You can find this clip and others in our tax video section.