Congress Gives Bankers Wet Dreams

Banking

Have you ever tried to read our tax law? Wow. I am an educated person, an IT systems engineer. It felt like it took me five minutes per paragraph to make any sense of the content.

I decided to read the law after filing my taxes this past year. The amount the government stole from me and the reading just hurt. I’m now on a payment plan with the IRS raiding my bank account every month and charging me interest. Is the IRS a bank? How have we allowed ourselves to be so abused?

The tax law https://bit.ly/30BC4K9 ( is actually a directive to write words into the tax code. The tax code is Title 26 of the US code (https://bit.ly/2AxHdIB).

There are eleven sections in the tax code. They are all written in the language called ‘legalese’. Let’s focus on one section today: Paycheck withholding. Following the breadcrumbs, I found the part that requires employers to take your money and hand it over to the IRS. It is titled ‘26 USC 3402: Income tax collected at source’ and is found at https://bit.ly/37pxXSO. Talk about someone having their hands in your pants!

First, I’m struck by the words giving the ‘Secretary’ superpowers nearly everywhere in this document. For example: blah blah …. shall be made in such form and manner as the Secretary may by regulations provide. Congress has handed over their power of the purse to an unelected bureaucrat and has given him power to create regulations to better control us.

This means the Secretary (and his gang) can raid our accounts anytime and anyway they can envision. And as these gang members are (probably) all bankers and lawyers – woo hoo! Game on! With all the amendments and revisions, it is easy to see they add stuff to stop us peasants from getting anything for ‘free’ when they see money slipping beyond their reach.

Give the employee a vehicle to use for work! Oh no, that must be taxed! Paragraph (s) – Exemption from withholding for any vehicle fringe benefit. The wording in this paragraph (s1) is full of double negatives. Apparently, the benefit must be taxed but the employer can decide not to withhold taxes on the benefit for some reason if there was a memo involved. What?

But wait – the gang can use their superpowers to aid lobbyists. For example:

Paragraph (o)(5) – Special rule for sick pay paid pursuant to certain collective-bargaining agreements. This provision hands the taxation of sick pay for union members over to the contractual agreement made between the workers, the union and their employer. In other words, the IRS is allowing the taxation/non-taxation to be used as a bargaining chip. This is so obviously a concession to lobbyists for (probably) a union. Why do I say that? Because the Secretary and gang (probably) feel it is their sacred duty to wring out every dime from every person where possible (as bankers normally do) and this may allow workers to keep a quarter instead of just a dime.

If we paid these taxes by writing a check to the IRS instead of allowing the government to automatically raid our paychecks, would we pay more attention to the ridiculous regulations generated by this thieving gang?