@DemocracyMattersALot
Taxpayers should be reimbursed for the ENTIRE 2022 GOP congressional term, excepting the last day they voted on the Budget. They have done NOTHING for their constituents or the country since being sworn in (which oaths were big, fat lies).
You may be privy to or unfamiliar with how the ultra-wealthy are taking advantage of the system. Either way, you’ll find this report by @ProPublica to be staggering. The facts are clear: there is a class war, and we’re losing.
“…it demolishes the cornerstone myth of the American tax system: that everyone pays their fair share and the richest Americans pay the most.”
Parallels Between Archaic Entrepots and Modern Offshore Banking Centers
By Michael Hudson, originally published by Resilience.org May 10, 2024
"...To create such enclaves has been an objective of mercantile capital through the ages. It patronizes the world’s politically weakest areas as long as they do not do what real governments do: regulate their economies. The search for “neutral territory” expressed itself already in the chalcolithic epoch, many millennia before private enterprise developed as we know it. The result of this impetus is that neolithic towns...and the biblical cities of refuge share the following important common denominator with today’s offshore banking centers: Instead of being centers of local governing, legal, and military power, they were politically neutral sites established outside the jurisdictions of local governments..."
NEW: IRS Audit of #Trump Could Cost Former President More Than $100 Million
The #tax agency concluded in its long-running investigation that Trump effectively claimed the same massive write-off twice on his failed #Chicago tower.
I understand the need to fund cybersecurity efforts to thwart criminals. However, this latest levy conveniently exempts the affluent by focusing on select transactions.
Following the enactment of the Cybercrime (Prohibition, Prevention, etc) (amendment) Act 2024 and pursuant to the provision of Section 44 (2)(a) of the Act, “a levy of 0.5% (0.005) equivalent to a half percent of all electronic transactions value by the business specified in the Second Schedule of the Act”, is to be remitted to the National Cybersecurity Fund (NCF), which shall be administered by the Office of the National Security Advisor (ONSA). […]
The levy shall be applied at the point of electronic transfer origination, then deducted and remitted by the financial institution.
The deducted amount shall be reflected in the customer’s account with the narration: “Cybersecurity Levy”. (Central Bank of Nigeria 🇳🇬, PDF here)
The Premium Times provides reactions from Nigerians 🇳🇬, which is unfavorable as no one wants an increase in expenses during this age of inflation we are living in.
Although I do not desire to pay extra fees when conducting transactions, I understand the levy’s necessity, even if I do not appreciate the expense.
While it is understandable that there would be exemptions to the new Levy (for charities, payroll, school, transactions within the bank, government, etcetera), one exemption did capture my attention.
SCHEDULE OF EXEMPTIONS FROM CYBERSECURITY LEVY […]
Savings and deposits including transactions involving long-term investments such as Treasury Bills, Bonds and Commercial Papers. (Central Bank of Nigeria 🇳🇬)
Usually, the affluent invest long-term in bonds & treasury bills, so its appearance here as an exception is suspicious. Like any other nation, Nigeria 🇳🇬 needs investors, but they should not cater to their interests while asking the public to increase their burden.
Nigerians 🇳🇬 are threatening lawsuits against the Cybersecurity Levy. However, I doubt the government will suspend a new source of revenue when nations seek extra cash to maintain the upkeep of their respective countries.