History and Reforms (date)
  • American History [ah] (12/8)
  • Election Reform [er]
  • Immigration Reform [ir]
  • Judicial Reform [jr] (12/8)
  • Media Reform [mr]
  • Social Security Reform [ssr]
  • Tax & Budget Reform [tbr] (12/5)
  • Other Reforms [or] (11/30)

Dedicated to Exposing Corruption to Support Reform
ElectoralCollege.Org advocates for reforms to reduce the National Debt and Unfunded Liabilities
The Founding Fathers, Including Thomas Paine, Proposed Taxing Wealth and Inheritances to Help the Poor

3/25: Questions to be Considered

  • How and why is the Trump Administration defunding the Social Security Administration and the IRS?
  • How and why should tax-free savings accounts be limited?
  • Why don't you hear talk about raising the estate tax on Talk Radio?
  • How should the charitable tax deduction be reformed and possibly eliminated?
  • Why do we need to have public disclosure of the cost of tax loopholes?
  • How was tech money used to tilt the 2024 election to elect a felon as president?
  • How should the electoral college be reformed?
    - Allow a popular vote as a state alternative to ratifying amendments to the Constitution by the state legislature
    - Enhance the sovereignty of the people by eliminating the two extra electoral votes for each state
    - Eliminate the winner-take-all electoral votes for each state
    - Allocate the electoral votes for each state in proportion to the popular vote
    - Modify the 12th Amendment to ensure the sovereignty of the people
    - Who among the Founding Fathers would likely support these reforms to the Electoral College?

3/24: The Democrats must Unite to Save America and Social Security

The economic and political strategy should focus on a populist economic agenda that is centered on saving Social Security. It is probably the only issue which should appeal to most working Americans, including those who currently support Trump.

On last Saturday's Ralph Nader Radio Hour, Michael J Graetz discussed his book "The Power to Destroy - How the Antitax Movement Hijacked America." He claimed Biden became part of the movement by refusing to raise taxes on anyone making less than $400,000. The only difference between Biden and the Republicans is 2%.

Michael Graetz said: "The Democrats now don't want to tax 98% of the people and the Republicans don't want to tax 100% of the people and the question is: how do you get anywhere with those kinds of firm "no new taxes" pledges?

The Democrats need to promote a new standard. The new standard would be linked to the maximum earned income that is subjected to the FICA tax to fund Social Security. The maximum is now $176,100. The current income tax code provides a lot of subsidies that disproportionately benefit taxpayers who have incomes above $176,100. The new standard will connect and limit tax benefits to the amount of earned income that is subjected to the FICA tax. The benefits will all be in the form of tax credits and not deductions.

3/23: Bipartisan Policy Center: The Social Security Benefit Formula [ssr]

Queston for AI:

How does the Bipartisan Policy Center (BPC) proposed Social Security's benefit formula increase the burden on those who pay FICA taxes close to the maximum Social Security Wage base without taxing non-earned income and capital?

Edited Response from AI:

The Bipartisan Policy Center's (BPC) proposed changes to Social Security would increase the burden on high-income earners who pay FICA taxes close to the maximum Social Security wage base in several ways:

  1. Increased Taxable Maximum: The proposal aims to gradually increase the maximum wages subject to Social Security taxes until it covers 90% of total wages, up from the current ~80%
  2. Expanded Coverage: The proposal would bring all workers into the Social Security system, including state and local government employees currently outside it
  3. Changes to Pass-Through Business Rules: The plan would modify rules for limited partners and S-corporation owners, potentially subjecting more of their income to Social Security taxes up to the earnings cap. This change would hopefully close the loophole that allowed Scott Bessent, the current Treasury Secretary, to avoid paying FICA taxes.

These changes would increase the tax burden on high-income earners without directly taxing non-earned income or capital gains. Their proposal focuses on expanding the existing payroll tax structure rather than introducing new taxes on investment income or wealth. You can not trust a bipartisan commission to support Social Security that does not seriously consider using revenue from taxes on non-earned income and estates.

3/22: How might a Worker's future Social Security benefits be affected if there is no Tax on Tips and Overtime? [ssr]

This question was prompted after Kevin Hassett said on today's Fox Larry Kudlow show that workers should not have to pay taxes on tips and overtime. Hassett is currently Trump's director of the National Economic Council and a key architect to extend the 2017 TCJA. Here is an edited AI response to the question:
  • Social Security benefits are based on a worker's 35 highest earning years (adjusted for inflation) to calculate their average indexed monthly earnings (AIME). The monthly amount the worker will receive at the full retirement age is called the primary insurance amount (PIA). The PIA is calculated using the following progressive formula:
    • 90% of the first $1,226 of AIME
    • 32% of amounts between $1,226 and $7,391
    • 15% of amounts above $7,391
  • A worker who has an AIME of $1,226 ($14,721/yr) will receive an initial monthly benefit of $1,103.40 ($13,240.80/yr) at the full retirement year. This of course is 90% of the AIME. Another worker who has an AIME of $7,391 ($88,692) will receive an initial monthly benefit of $3,076.20 ($36,914.40/yr) at the full retirement year. This percentage is much less at 41.6%. The respective percentage paybacks at an AIME of $1,667 ($20,000/yr) and $2,500 ($30,000/yr) are 74.7% and 60.4%.
  • If tipped and overtime income is excluded from taxable wages, these earnings would not count toward the AIME, reducing the base used for benefit calculations.

A more detailed analysis of our current "progressive" Social System will show how it favors low-paid workers and those who are highly compensated with incentive stock options and carried interest. Some Silicon Valley billionaire executives have salaries of only $1 a year?

3/22: Comments on Michael J. Graetz's book, "The Power to Destroy" How the Antitax Movement Hijacked America" [tbr]

The book's subtitle is "How the Antitax Movement Hijacked America." It is featured on the Ralph Nader Radio Hour on March 22. I bought and read this book last year. My greatest interest was in Chapter 12. It starts out with a quote from George W. Bush's VP Dick Cheney: "Reagan proved deficits don't matter."

In 2001 President George W. Bush (GWB) inherited a budget surplus from Clinton and a CBO projection of a $5.6 trillion surplus over the next 10 years. Bush rushed through Congress, with the support of Federal Reserve Chairman Alan Greenspan, barbell tax cuts to return the projected surplus to the people. At the signing ceremony on June 7, 2001 he said: "We recognize, loud and clear, the surplus is not the government's money. The surplus is the people's money. And we ought to trust them with their own money."

Barbell tax cuts provide tax benefits to both poor families in the form of child tax credits and to the rich in the form of lower taxes on their unearned income and an eventual repeal of the estate tax. Consequently, the tax burden falls primarily on taxpayers in the middle who have earned income that falls between 50% and 100% of the Social Security wage base. As I recall, the Clinton budget surplus did not account for the increase in the unfunded liabilities for Social Security.

The GWB presidency was focused on eliminating the estate tax. The most crucial step was to call the estate tax the "death tax." The Seattle Times promoted this. The pro-repeal forces supported polls that asked simply if you favored repealing the estate or death tax. A large majority of those surveyed favored repeal at the same time they favored taxing the rich. The public was not aware of how repealing the estate tax could threaten the future Social Security benefits. That lack of awareness exists today. Trump promises to protect Social Security at the same time he and the Republicans plan to eliminate the estate tax. What questions should the polling organizations ask? Stay tuned.

I became personally aware of the positive potential connection between the estate tax and Social Security when my mother died on July 3, 2001. She was not rich. Her estate was obligated to pay hundreds of thousands of dollars to the federal government and to the State of New Jersey. It did not help our family personally that under the new tax law the current estate tax exemption would be raised from $675,000 to $1,000,000 on January 1, 2002. My mother was born on December 30, 1899 and lived in three centuries during her 101 1/2 years. She never contributed to Social Security and received benefits for possibly 40 years based on my father's FICA contributions.

I thought that we had a moral obligation to thank Social Security for having supported our mother. It seems appropriate to have the estate tax be dedicated to supporting Social Security. A basic principle of Social Security should be that each generation should be self-sustaining. Young workers should not have to support older workers. We should not have to increase immigration because of the declining birth rates of the native population.

Our family is related to another women who contributed very little into Social Security and lived to be over 100.That person is Ida May Fuller, our seventh cousin of Ludlow, Vermont. She was the first person to receive a Social Security benefit check of $22.54 on January 31, 1940. Her total contribution was $24.75. She received a total of $22,888.92 during her 35 years of retirement.

Later, I will suggest how to tax and minimize the potential double tax on appreciated securities. Revenue from the estate tax needs to be dedicated to support the old-age pensions of Social Security retirees.

This book did not cover the impact of the Roth IRA and other tax-free savings accounts. One of the most corrupt pieces of legislation created during the GWB presidency was the backdoor Roth IRA. The original Roth IRA began in 1998 as a result of the Taxpayer Relief Act of 1997. The original Roth IRA allowed a $2,000 contribution and income limits, before a phaseout, at $95,000 for single filers and $150,000 for married filing jointly. Who was responsible for the backdoor Roth IRA? The person who would likely know is Bill Thomas of California, Chairman of the House Ways & Means Committee at the time. Was there a connection to Stanford law professor Joseph Bankman and Peter Thiel? Because of the backdoor IRA, Thiel now has a Roth IRA worth more than $5 billion? What is the total value of all Roth IRA accounts? The only way to close what could be the most costly loophole is now the estate tax.

3/22: Now on Recommended Sites (3/25)

3/21: Michael Lewis on his new book Who Is Government? - The Untold Story of Public Service

He is scheduled to appear tonight at 8 pm on C-SPAN. This was originally broadcasted on C-SPAN on March 13. He mentions that many government workers manage risks to protect and keep us safe. Don't trust and vote for politicians who express negative stereotypes and criticisms at government workers and the so-called "deep state." He emphasizes that the federal workforce consists of dedicated individuals who are acutely aware of their responsibility to manage government resources efficiently, often under significant constraints.

3/20: Today is the International Day of Happiness

The theme for the International Day of Happiness in 2025 is "Caring and Sharing." This website encourages you to view Michael Lewis talk about his new book "Who Is Government?" and to understand what Thomas Jefferson meant when he wrote in the Declaration of Independence "life, liberty, and the pursuit of happiness" instead of John Locke's "life, liberty, and property."

On March 26, Michael Lewis, the author of "Who Is Government?" is most likely to be interviewed at the National Constitution Center by its president, Jeffrey Rosen, Rosen's book "The Pursuit of Happiness - How Classical Writers on Virtue Inspired the Lives of the Founders and Defined America" was published in February of 2024. Here is an AI-aided summary of Rosen's book: "By grounding happiness in classical virtues, Rosen argues that the Founders saw this pursuit as fundamental to both individual flourishing and the collective well-being of the nation. This understanding of happiness encompasses not only personal development but also the moral and civic responsibilities necessary for a thriving democratic society, as envisioned in the Declaration of Independence."

Where does the United States rank in the World Happiness Report 2025?

According to the World Happiness Report 2025 the United States ranks 24th globally. This marks the lowest position ever for the U.S. in the report's 13-year history. If only Americans under the age of 30 were considered, the U.S. wouldn't even rank in the top 60 happiest countries. Where do you expect the United States to be ranked next year?

Which Country is Ranked the Highest in the World Happiness Report 2025?

Finland is ranked as the happiest country in the world for the eighth consecutive year, My wife is a legal immigrant from Finland. She became a U.S. citizen in 2002.

How do the tax systems in the Nordic countries contribute to their high happiness ranking?

High levels of trust in government institutions and low corruption perceptions contribute to their willingness to pay taxes. I lived in Sweden for over a year in the mid-1960s while working for Svenska Esso AB in Stockholm. A colleague asked me - Why do you have charities in the U.S.? Five years later, I visited the Skattehuset (Tax House) in Stockholm to claim a tax refund. The process was remarkably efficient, and I received my refund within just 30 minutes.

3/20: Michael Lewis on his new book Who Is Government?

He will appear twice on cable within the next six days. He is scheduled to appear at 8 pm March 21, 2025 on C-SPAN. His second appearance will be 12 pm March 26. You can register to attend this presentation at the National Constitution Center.

3/19: Why Do We Need to Tax Capital and Wealth? [ah er ir jr ssr tbr]

How do capital and wealth benefit from:
  • Defense Spending
  • Infrastructure Spending
  • Economic Growth
  • Our Current Social Security System
  • Our Current Income Tax System
  • Our Current Estate and Gift Tax System
  • Artificial Intelligence

3/18: I Own Another Historical Document that is Clearly Authentic [ah]

My father gave me this document after he had donated it to Bucknell University. The document is an 1802 indenture agreement between Aaron Levy and our ancestor Lyons Mussina for a parcel of property on Aaron Square in Aaronsburg, Pennsylvania. This document is written on sheepskin and may be very significant in Jewish American history. Both signers were Jewish in the only town in America that was founded by and named after a Jew. Aaronsburg was founded by Aaron Levy, a land speculator who was associated with Robert Morris in financing the Continental Army. Aaronsburg had very few Jews. Lyons may have been the first Jew. Mussina's wife was not Jewish. The town, founded on religious and social harmony, was celebrated on October 23, 1949 by United Nations Mediator Ralph J. Bunche and Supreme Court Justice Felix Frankfurter. Lyons' nephew Simon Mussina was a land speculator who co-founded Brownsville, Texas and was a close friend of Samuel Houston.

3/17: On this day the following message was received from a "charitable" non-profit organization [ah, er, tbr]

"Your tax-deductible gift today will help:
  • Dismantle the Deep State.
  • Secure America's borders and deport illegal aliens.
  • Eliminate wasteful government spending.
  • Restore our nation's founding principles.

When the radical Left is angry at you, you know that you're right over the target. But we cannot rest on our laurels. We must press our advantage and keep up the fight to save America."

On February 17, this same organization failed to know the actual birthday of George Washington [ah]

"Today we celebrate the birthday of President George Washington, victorious general of the American Revolution and our first American president. Washington exemplified the character and leadership that we expect from those in power and we honor his legacy today and in so much of our American tradition."

George Washington's birthday was not on February 17. He was born on February 11 in 1732. The day of the month was adjusted to February 22 when the British switched to the Gregorian calendar in 1752.

My aunt who lived in Morristown, New Jersey gave me a document that was addressed to Mrs Gen Geo. Washington, Morris Town, NJ. The author of this note was responding to an invitation to attend some function on February 25 at Washington's headquarters in Morristown. The event might have been connected to GW's 48th birthday when he wrote "Present my compliments to his Excellency the General ...."

What was most significant to me was how my research into this document led me to discover how our ancestor Major Henry Axtell in the Militia and great-grand uncle Silas Condict helped George Washington during his stay in Morristown during the winter of 1789-1780. Henry's wife was Silas' sister Phoebe. Condict warned Washington that the frozen rivers and waterways could allow British forces to launch a surprise cavalry raid on his headquarters, potentially capturing the American commander. This episode highlights Condict's role in potentially safeguarding Washington and the American cause during a critical period of the Revolutionary War.

According to the genealogical site FamilySearch.Org, George Washington is our 7th cousin. In fact, according to FamilySearch.Org our family is related to every U.S. president by blood or marriage except for James Buchanan. It is highly likely that you will be able to make the same statement if your ancestors arrived in New England during the great migration between 1620 and 1640.

This organization is not a patriotic organization and certainly should not qualify as a charity. It is clearly focused on right-wing political advocacy. Its three founders are descendants of Germans immigrants who arrived in American after 1850 with little appreciation for our nation's founding principles as expressed by our Founding Fathers. They were not patriots..

3/16: Now on Recommended Sites

3/13: Chairman Smith: President Trump and House Republicans Are Committed to Preserving Social Security Benefits [ssr tbr]

What a lie. They are both committed to cutting Social Security benefits by first repealing the estate tax. The Democratic senators can stop this by insisting that the Budget Reconciliation Rules be changed to require some bipartisan support and the ability to filibuster to avoid a government shutdown tomorrow.

During a discussion of the CONCURRENT RESOLUTION ON THE BUDGET FOR FISCAL YEAR 2025 on February 25 it was reported in the Congressional Record that Jason Smith made this statement to support repealing the estate tax:

"2 million family-owned farms need certainty that they won't be forced to sell their farm to pay an increased death tax. They need to know right now if they should be contacting an estate planner for the massive tax hike that is coming."

In 2023, "89 farm estates" (0.2% of farm operator estates) were required to file and pay federal estate tax, out of approximately 39,988 estates created from principal operator deaths].

3/12: Who do Democratic House members Sanford Bishop (GA-2), Don Davis (NC-1), and Dan Goldman (NY-10) Represent?

These three Democrats want to repeal the estate tax to help wealthy farmers, small businesses, and donors. These donors represent less than a fraction of 1% who would be subjected to an estate tax if the current estate tax exemption under the 2017 TCJA of $14 million were lowered to $5.5 million. At the same time they are risking the financial security of more than 90% of their constituents who depend on Social Security.

  • African Americans Bishop and Davis represent districts that have over 40% black residents and a poverty rate of more than 18%. The major donors to their 2024 political campaigns were from outside their district.
  • Rep. Sanford Bishop was elected in 1992 and currently serves on the powerful Appropriations Committee. He has been ranked as one of poorest members of Congress. His major contributors are wealthy individuals (33.7%) and Agricultural interests.
  • Rep. Donald Davis serves on the Armed Services Committee. His major donors are wealthy individuals (>50%) and the American Israel Public Affairs PAC.
  • Self-interest explains Rep. Dan Goldman's wanting to repeal the estate tax. Bloomberg has reported that he is worth over $250 million and is an heir to the Levi Strauss Family fortune.

3/11: Who do Republicans John Thune, Jason Smith, and Randy Feenstra Represent? [ssr tbr]

These three key Republicans are supported by farmers, ranchers, and small businesses who want the estate tax repealed. These owners represent less than a fraction of 1% who would be subjected to an estate tax if the current estate tax exemption under the 2017 TCJA of $14 million were lowered to $5.5 million. At the same time more than 90% of their constituents depend on Social Security.

Formatted AI Response:
Representatives and Their Constituencies

John Thune, Jason Smith, and Randy Feenstra are Republican politicians who represent the following constituencies:

  • John Thune: U.S. Senator from South Dakota and Senate Majority Leader.
  • Jason Smith: U.S. Representative for Missouri's 8th congressional district and Chairman of the House Ways and Means Committee.
  • Randy Feenstra: U.S. Representative for Iowa's 4th congressional district and member of the House Ways and Means Committee [and the Social Security Subcommittee].
Estate Tax Advocacy

These Republicans have been vocal advocates for repealing the estate tax, also known as the "death tax," which they argue disproportionately affects family-owned businesses and farms. However, the impact of the estate tax on their constituents is limited:

  • Only about 0.2% of farm estates (89 estates) owed federal estate taxes in 2023, with another 0.8% (330 estates) required to file a return but owing no tax.
  • Approximately 94 estates annually with at least half their assets in small businesses were subject to the estate tax, representing about 2.5% of taxable estates.
Social Security Dependence

In contrast, a significant portion of their constituents rely on Social Security:

  • As of January 2025, 68.6 million people were receiving Social Security benefits, with 87.9% of beneficiaries receiving Old-Age and Survivors Insurance.
  • 55% of adult Social Security beneficiaries in 2023 were women.
  • In 2023, 71.6 million people received benefits from programs administered by the Social Security Administration.
Estate Tax Exemption

The current estate tax exemption is $13.61 million per individual as of 2024, which is set to revert to $5.5 million per person at the end of 2025 unless Congress acts. Despite representing a small fraction of their constituents, these Republicans have introduced legislation like the Death Tax Repeal Act (S.587) to permanently repeal the estate tax.

3/9: Now on Recommended Sites

3/1: AI Question of the Day (updated 3/14)

  • What percentage of the U.S. wealth was transferred by the top 2% of those who died in recent years?
  • The answer can be found in the Archive folder for December 21, 2024 with this link to Bloomberg Wall Street Week:
     - The coming $105 trillion inheritance wave that is likely to concentrate the dynamics of wealth (10:30) [ssr tbr]
    • The Three Most Important Quotes From the Video
      - 4:01: Teddy Roosevelt: "I believe in ... a graduated inheritance tax on big fortunes, properly safeguarded against evasion, and increasing rapidly in the amount with the size of the estate."
      - 4:16: Andrew Carnegie agreed, saying "of all forms of taxation, this seems the wisest."
      - 4:19: "In 1916, Congress enacted the federal estate that's been with us in some form or another ever since."
    • How much of that inheritance wave can be used to save Social Security?
      - The first 5:55 minutes of the video provides some guidance.
      - Only 20% of descendants are able to pass on wealth.
      - The top 2% of U.S. net worth households are worth at least $10 million.
      - Over 50% of the wealth is held by high-net-worth households.
      - $2.5 trillion in wealth is expected to be passed in 2024.
      - The effective tax on all the wealth is expected to be only $25 billion or 1%.
      - How much would it be raised if the exemption was lowered to the inflation-adjusted amount of $1 million in 2002?
      - The simplest way to tax capital would be to recognize and realize a tax whenever there is a change in ownership of an asset.
    • What is most disturbing is the current lack of interest among a majority of taxpayers in taxing inheritances and estates.
      - Our initial 2025 priority will be to communicate to a much wider audience how the estate tax can be used to save Social Security.
      - On Feb. 20, 2025 this was mentioned to Thomas Friedman while he was signing "Thank You for Being Late."
    • Trump has promised to Protect Social Security and Eliminate the Estate Tax.
      - His main objective is to first eliminate the estate tax.
      - Once that is done, Congress will be forced to cut Social Security benefits.
      - The Democrats now must express strong support for taxes on at least the top 2% of estates.
      - In 2001, 2.2% of estates were taxed. Anti-SS GWB had it decline to 0% in 2010. A weak BHO raised it to 0.3% and it declined to 0.1% after the 2017 TCJA.
    • The Republicans have been aware of the potential use of an increased estate tax to fund Social Security since at least the Taxpayer Relief Act of 1997 (TRA-97)
      - TRA-97 raised the estate tax exemption to $600,000 and set it to increase gradually to $1 million by 2006.
      - TRA-97 introduced the Roth IRA and an individual exemption of $250,000 on the sale of one's primary residence.
      - The maximum contribution limit for the Roth IRA was $2,000 per person in 1998 and was subject to income limits before a phaseout at $95,000 for single filers and $150,000 for married filing jointly.
      - TRA-97 also required the annual gift tax exclusion of $10,000 to be adjusted annually for inflation.
      - The 2017 TCJA greatly expanded the estate tax exemption to be $14 million in 2025 and GWB created the Backdoor Roth IRA in 2005 to become effective in 2010. (3/9)
      - The Backdoor Roth IRA allows the very rich the opportunity to have a tax-free savings account. (3/9}
      - Automatic inflation adjustments have increased the regular Roth IRA contribution limit to $7,000 and the annual gift tax exclusion to $19,000. Under 2017 TCJA it is possible to actually provide a tax-free gift of $14 million. (3/9)
      - It should noted that the individual exemption of $250,000 on the sale of one's primary residence has not changed. (3/9)
    • Current efforts of Trump and the Republicans are to defund the IRS, the SSA, and prevent taxes on capital and estates to fund Social Security. (3/9)
      - Republican members of the Social Security Subcommittee of the House Ways and Means Committee are certainly aware of Thomas Paine's proposal of a 10% inheritance tax to provide "annual benefits of 10 pounds sterling to be paid to every person age 50 and older, to guard against poverty in old-age."
      - It is not surprising that the primary sponsor in the House for repealing the estate and generation-skipping transfer (GST) taxes is Rep. Randy Feenstra (R-IA), a member of the Social Security Subcommittee.

    3/1: Now on Recommended Sites (updated 3/5)

    2/22: AI is being Used by ElectoralCollege.Org to Develop Tax Reform

    ElectoralCollege.Org is focused on reducing the national debt and unfunded liabilities. The priority will be to save Social Security by some commonsense ideas that are inspired by our Founding Fathers. These Founding Fathers include immigrants Thomas Paine, James Wilson and Pierce Butler.

    Here is Thomas Paine's View on Taxing Inheritances to Support an Old-Age Pension (SSA.Gov)

    "One of the first people to propose a scheme for retirement security that is recognizable as a forerunner of modern social insurance was Revolutionary War figure Thomas Paine. His last great pamphlet, published in the winter of 1795, was a controversial call for the establishment of a public system of economic security for the new nation. Entitled, Agrarian Justice, it called for the creation of a system whereby those inheriting property would pay a 10% inheritance tax to create a special fund out of which a one-time stipend of 15 pounds sterling would be paid to each citizen upon attaining age 21, to give them a start in life, and annual benefits of 10 pounds sterling to be paid to every person age 50 and older, to guard against poverty in old-age."

    ElectoralCollege.Org Founder's Interest in Social Security

    In 1975 the founder of this site became co-author of the AICPA's Pension and Profit-Sharing course after updating the course material for the Employee Retirement Income Security Act (ERISA). While at the AICPA he worked closely with Sidney Kess, a renowned tax expert, on his tax seminars as well as technical editor on the AICPA's first Individual Retirement Account (IRA) cassette. It should be noted that our IRA was based on the Canadian Retirement Savings Account (RSA) that was created in 1957. The founder's next plan was to develop an AICPA course with the title of "What the CPA Should Know About Social Security." He did not develop this course because he left the AICPA to become head of national tax training at Coopers & Lybrand (C&L). That was over 45 years ago. (To be continued)

    2/9: Using AI to Understand the Origins of Trump's Gaza Plan [or]

    Trump's proposal to develop Gaza and resettle all of the inhabitants outside their homeland should not surprise anyone. Here are some questions to ask your favorite AI chat service:

    • What did David Friedman, Trump's former ambassador to Israel, say about the two-state solution?
    • What are current ambassador to Israel Mike Huckabee's main arguments against the two-state solution?
    • What promise regarding the West Bank did Miriam Edelson receive from Trump in exchange for her $100 million contribution to his 2024 presidential campaign?
    • What evidence is there that Benjamin Netanyahu and his right-wing coalition supported Hamas because they wanted to prevent the Palestinian Authority from forming a unified, moderate government?
    • How many civilians were killed and housing units destroyed by the IDF in Gaza since October 7, 2023?
    • Was the IDF motivated to destroy Gaza and its people by the right-wing government of Benjamin Netanyahu?
    • Could developing Gaza into a tourist mecca without displacement benefit the Palestinians without Hamas?
    • How has the Israeli blockade impacted tourism development in Gaza?
    • What specific tourist attractions could Gaza develop to attract international visitors?
    • How could tourist development of Gaza that is controlled by the Palestinians promote the two-state solution?
      • The world should reject Trump 's Gaza plan that has been orchestrated initially with Benjamin Netanyahu's right-wing coalition to destroy the housing and infrastructure in Gaza and replace the Palestinians with an expanded Israeli land-grab.
      • While tourism development controlled by Palestinian alone cannot solve the complex issues surrounding the two-state solution, it could contribute to creating economic and social conditions more conducive to peace. However, addressing the underlying political issues and lifting movement restrictions remain crucial prerequisites for any meaningful tourism development in Gaza.

    2/1: Update to the Proposal to Save Social Security First [ssr]

    The most rational and logical way to save Social Security is to tax capital. It is also the way that our Founding Fathers would support if they were alive today.

    The most effective way to tax capital is to tax it when there is a transfer of ownership. Transfers of property occur when property is transferred to charities, at death, with gifts, in mergers, to trusts, etc. The only transfers that might be allowed would be between spouses. The basis would carry over. A limited exemption at death would be allowed for the family business portion of an estate. The only assets that can be held in tax-exempt savings accounts must be liquid assets that have a readily determined market value.

    Business assets would only be allowed to be depreciated once and could not be used to offset ordinary income. On the sale of an asset that can be depreciated, the basis will carry over to the acquirer. There will be no step-up in basis. Tax-free Section 1031 exchanges would be repealed. The tax-free capital gains associated with the corruptible Opportunity Zone loophole that Silicon Valley billionaires inserted into the 2017 Tax Cut & Jobs Act would be repealed.

    1/20: Reconciliation Menu by House Budget Committee [tbr]

    Politico has been able to obtain a 50-page menu of items to be considered during the reconciliation process to extend and modify the 2017 Tax Cuts and Jobs Act. This Republican menu probably was constructed with the help of two section 501c3 tax-exempt "charitable" nonprofit organizations - The Heritage Foundation and the Tax Foundation. You should note the following view of this website that has been verified by AI:

    The 10-year budget reconciliation process is a way to pass tax cuts that are fiscally irresponsible with regards to the national debt and the unfunded liabilities of Social Security and Medicare.

    On page 14 of this document the GOP estimates the cost of repealing the estate tax. This repeal, if permanent, would make it very difficult for a future Congress from using the estate tax to help fund the poor and middle-class entitlements of Social Security and Medicare. So don't believe Donald Trump's promise to protect Social Security when he wants to repeal or reduce the estate tax.

    Eliminate the Death Tax
    $370 billion in 10-year
    VIABILITY: HIGH / MEDIUM / LOW

    • Estates exceeding a certain value are subject to federal tax. The TCJA doubled the estate tax exclusion. The 2023 exclusion amount is $12.9 million per person ($25.8 million for married couples). This option would eliminate the federal estate tax.

    My estimate of the cost of eliminating the death tax (or more correctly the estate tax that currently includes a death bonus of a $12.9 million exemption and a stepped-up basis in assets) is many trillions of dollars.

    In 2001, 2.2% of estates were subjected to the estate tax. Recently, the percentage has declined to less than 0.1%. The base case for estimating the costs of repealing the estate tax should be based on the inflation-adjusted exemption basis that existed in 2001 of $675,000 and not $12.9 million.

    1/19: Scott Bessent, the Nominee for Treasury Secretary, Does Not Appear to be a Prudent Choice

    • Did he disclose his tax return?
      - He did disclose his tax returns to the Senators, but not to the public.
      - He improperly claimed significant tax losses and a bad debt.
      - How much did this billionaire pay in income taxes?
    • We know he used a tax loophole to avoid paying Medicare taxes.
      - Did he also avoid paying FICA taxes?
      - It appears that he is no friend of Social Security and Medicare.
    • What other loopholes did he use to avoid paying income taxes?
      - For example, did he claim carried interest?
    • Has anyone commented on his poor and erratic investment performance?
      - His Key Square Group's assets under management declined from $5.1 billion in 2017 to $577 million in 2023.
    • Based on a review of his performance, he is more likely to be considered a speculator than an investor.
      - He speculated heavily on Donald Trump and won.
      - Unfortunately, those of us who expected fiscal discipline from a Treasury Secretary will lose.
      - He has also been a speculator in buying and selling 20 homes according to realtor.com.
    • At his confirmation hearing he warned of 'devasting consequences' if the 2017 TCJA tax cuts are not extended.
      - Are you aware that the GOP used temporary 7-year tax cuts to pass the TCJA to meet the 10-year budget requirements under the reconciliation rules?
      - Using budget reconciliation is a way to pass tax cuts that are fiscally irresponsible with regards to the national debt and the unfunded liabilities of Social Security and Medicare.

    12/30: Two Newsworthy DemocracyNow.org Videos

    • 12/23: Elon Musk's Opposition to Gov't Spending Bill a "Smokescreen" for His Business Interests with Robert Kuttner, co-founder and co-editor of The American Prospect on the real reason why Musk opposed the bill.
      From the Transcript:
      -"most important to Musk --- a provision ... to limit high-tech investments in China for national security purposes."
      -"Musk begins this Twitter storm of more than a hundred tweets warning that this bill is too expensive, ... and a whole bunch of things that just weren't true."
      "This was all a smokescreen to get Congress to kill the bill because it had this China provision that would have cost Musk a lot of money."
      "They had to negotiate a whole new bill."
      -"End of the day, Musk got exactly what he wanted: The China provision was stripped from the bill."
    • 12/27: Big Tech Backs Trump to Cut Taxes, Boost Crypto, Replace Workers with AI with Tech Investor Roger McNamee
      From the Transcript:
      -Trump has placed tech executives all over his new administration,
      -"But the core things come down to displacing workers with artificial intelligence, displacing the currency with crypto, and getting rid of any kind of taxation on wealth that might come up.".
      -"at the top of the list of all Silicon Valley executives right now. ... is they all want tax cuts. These are billionaires. They don't want to pay taxes on their wealth."

    12/29: Trump, Musk and Ramaswamy favor Foreign Tech Workers

    News Item:
    12/28: Musk and Ramaswamy are sparking a debate over the H-1B visa. Here's what to know about the visa. from CBSNews.com

    This comes at a time when tech workers are being laid off. Since 2022, more than 48,500 tech jobs have been eliminated in the Bay Area. Boston Scientific plans to cut 138 jobs at its Sunnyvale office by the end of December 2024. More job cuts are expected by Cisco and Intel. This comes at a time when the future effect of AI on tech jobs is uncertain.

    Our research indicates that many current immigrant tech leaders are avoiding FICA and income taxes. Immigrant Peter Thiel, the founder of PayPal and Palantir and an early investor in Meta, utilized a backdoor Roth IRA strategy that was signed into law in 2005 but did not take effect until 2010. This strategy allowed him to shift assets from his IRA into a Roth IRA that was valued at least $5 billion several years ago. The backdoor Roth IRA was a method introduced during George W. Bush's presidency that has been criticized for undermining Social Security funding. Additionally, distributions from an inherited Roth IRA by the spouse are tax-free, further enhancing its appeal for wealth accumulation and transfer.

    Would someone in the media please ask Elon Musk and Vivek Ramaswamy how much they pay in federal taxes? It was recently reported in the New York Times that immigrant Jensen Huang, the CEO of Nvidia, is avoiding approximately $8 billion in taxes, likely through a campaign donor-financed legal loophole.

    Our tax reform proposals will address the Roth IRA loophole by limiting the amount that can be accumulated in all tax-free savings accounts and taxing all changes in ownership of property at a flat tax rate.

    12/28: Other Recommended Sites on YouTube.com with Links

    12/21: Note the Change in the Top Center Panel

    It was: "Thomas Paine, the Commonsense Founding Father who Proposed Taxing Wealth and Inheritances to Help the Poor"
    Our research revealed that in several documents the Founding Fathers proposed taxing property. These include the Articles of Confederation, the U.S. Constitution, and the Direct Tax of 1798.

    12/13: Coming Soon

    • How do Tech Billionaires Avoid Taxes and Threaten Democracy? [er ssr tbr]
    • How does the burden of funding the current Social Security system fall mainly on the Middle Class in states with a higher cost of living? [ssr tbr]
    • Why did a Republican member of the House W&M Subcommittee on Social Security propose legislation to Repeal the Estate Tax? [ssr tbr]
    • Why doesn't the Heritage Foundation tell you the truth about the Founding Fathers' views on Taxes? [tbr]
    • Is it time to Rethink SALT and the Charitable Deduction?
    • How do Republicans use the Budget Reconciliation Rules to Increase the National Debt and Unfunded Liabilities? [tbr]
    • Do most Americans think the Wealthy Should Pay More to Help the Poor and Middle Class? [tbr]

    12/8: Books to Read

    A new feature of this website will be Books to Read. American History now includes 8 books and Judicial Reform 3 books. Note that the book about John Marshall appears in both lists. The complete list will include over 200 books.

    12/5: Build Your Own Tax Extensions [tbr]

    On December 3 the Committee for a Responsible Federal Budget (CRFB) published Reducing the Revenue Loss of TCJA Extension. The Extension of all the individual and estate tax cuts and subsidies is expected to create a 10-year budget deficit of $3.9 trillion under reconciliation at a time now when the official national debt is approaching $36 trillion. Most economists would think an expanding economy should be producing budget surpluses but Trump and his supporters love fiscally irresponsible tax cuts and subsidies. On the CRFB page is a table of "Options for Reducing the Deficit Impact of TCJA Extensions" which includes estimates from various government sources and non-profit 'charitable' 501c3 think tanks.

    You can use the link cited above in the heading to design your own solution to the projected 10-year budget deficit. It should be noted that Republicans have repeatedly used the 10-year budget reconciliation rules to propose tax cuts and subsidies that have increased the national debt in the post-10 years. That is why we need some credible organization to evaluate the effect of all budget reconciliation tax laws on the national debt and unfunded liabilities. Our further comments will appear at [tbr].

    11/20: Who was Pierce Butler? [ah]

    11/16: Who were the Two Immigrant Founding Fathers Who Conspired to Create the Electoral College? [er-ec]

    The four key delegates to the Constitution Convention in 1787 who negotiated the Three-Fifths Compromise and the Electoral College were James Wilson (PA), Pierce Butler (SC), Gouverneur Morris (PA) and James Madison (VA). See the Election Tab for more details and eventually a proposal to reform the Electoral College.

    11/7: ElectoralCollege.org is disappointed with the outcome of this election. [2024]

    11/7: Elon Musk's Fraudulent $1 million a day Seven Battleground State Lottery [2024]

    11/3: Why a Vote for Kamala Harris is a Vote For Civility? [2024]

    11/2: The Harris Campaign Did Not Have an Ad during the Army v. Airforce Game [2024]

    10/30: Recent News Articles of Interest [2024]

    10/29: What's at Stake on State Ballots [2024]

    10/24; Responses to Questions [2024]

    • Who was the Best U.S. President after FDR for Social Security Recipients? [ssr]
      Richard Nixon introduced: automatic annual COLAs to help benefits keep pace with inflation, automatic increases in the maximum earnings subject to FICA taxes, and early retirement at age 62.
    • Who are the Two Worst U.S. Presidents for the Future of Social Security? [ssr]
      George W. Bush and Donald Trump. Both substantially reduced the taxes on gifts and estates.
      In 2006 Bush signed the Tax Increase Prevention and Reconciliation Act (TIPRA) of 2005 with an effective date of 2010 for the backdoor Roth IRA. This delay was designed to avoid recognition of the substantial future revenue loses to the U.S. Treasury.
      Our proposal to save Social Security will include limiting the tax-free amount in Roth IRAs and requiring annual minimum distributions.
    • How does "The Good, the Bad and the Ugly" apply to Tax Reform Laws? [tbr]
      • The Good: Tax reform that reduces the national debt.
      • The Bad: Tax reform that favors unearned income more than earned income.
      • The Ugly: Tax reform that increases the national debt.
    • Which of the Two Presidential Candidates is Most Likely to Lead U.S. into Bankruptcy? [tbr]
      This is of course is Donald Trump. You may want to read why the voters rejected him in 2020. We're watching Trump's 7th bankruptcy unfold.
      Voters should reject him again now.
      Do you really want to give him another chance to mishandle the economy?
      His tariff proposal will be inflationary.
      He plans to use budget reconciliation to increase the national debt to finance tax cuts that primarily benefit the rich.
      The Democrats need to win the House to stop him.

    10/4: Research: The GOP Wants to Defund Social Security [ssr]

    ElectoralCollege.Org believes that for many years the GOP has wanted to defund Social Security. Many Americans who are now 40 or older remember George W. Bush's failed attempt to privatize Social Security. He also began to phase out the estate tax. In 2010 there was no estate tax. He also promoted tax-free savings accounts that would be exempt from the estate tax.

    Most people who are familiar with the history of Social Security are aware of Thomas Paine's 1795 pamphlet entitled "Agrarian Justice." He proposed to use a 10% tax on inheritances to provide an annual benefit to be paid to every person age 50 and older, to guard against poverty in old-age. You can verify this by visiting the Social Security Administration History Page on Thomas Paine.

    Thomas Paine is known for being the author of "Common Sense" that was featured within the last 12 months as the first book to read on C-Span's Books That Shaped America. Early in his writing career Thomas Paine used the pseudonym Common Sense. Mr. Common Sense certainly had a common-sense proposal to tax inheritances to fund an old age pension for the poor.

    One must ask: "Have any members of the House Ways and Means Subcommittee on Social Security considered a common sense proposal to use a tax on estates to support Social Security?" They certainly should be presumed to be aware of what Thomas Paine proposed in Agrarian Justice.

    On January 18, 2024, Representative Randy Feenstra (IA-4). a Republican member of the Subcommittee on Social Security proposed H.R. 7035, the bill to Repeal the Estate Tax. The names of the GOP House Members who are co-sponsors of this bill are listed on two pages of Defund Social Security. I hope this list will be downloaded and used to defeat these GOP members who want to Defund Social Security.

    9/27: Forthcoming Updates (Dates will appear here and above when updated)

    • American History [ah]: Our, and Possibly Your, Relationship to the Founding Fathers and Mothers (9/29)
    • Election Reform [er]: Two Founders Who Might Have Been Responsible for the Electoral College and the Limitation on the Direct Tax (9/29)
    • Immigration Reform [ir]: Why we don't need Illegal Immigrants (9/27)
    • Judicial Reform [jr]: Term Limits and Ethics Reform
    • Media Reform [mr]: The Need for Disclosure
    • Social Security Reform [ssr]: The Republican Plan to Defund Social Security Via the IRA and the Repeal of the Estate Tax
    • Tax & Budget Reform [tbr]: How Budget Reconciliation Favors Capital and Increases the National Debt

    9/10: News [2024]

    9/10: EC Opinion: Common Sense Questions

    • What About the National Debt and the Solvency of Social Security? [ssr tbr]
    • What actions did Trump and Biden do or not do to cause inflation?[2024]

2/18/24: Proposal to Save Social Security [ssr]

This content is now contained in the Social Security section.

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