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Member since: Tue May 13, 2014, 06:50 PM
Number of posts: 6,392

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Title lll US Patriot Act

The definition of money laundering was expanded to include making a financial transaction in the U.S. in order to commit a violent crime; the bribery of public officials and fraudulent dealing with public funds; the smuggling or illegal export of controlled munition and the importation or bringing in of any firearm or ammunition not authorized by the U.S. Attorney General and the smuggling of any item controlled under the Export Administration Regulations. It also includes any offense where the U.S. would be obligated under a mutual treaty with a foreign nation to extradite a person, or where the U.S. would need to submit a case against a person for prosecution because of the treaty; the import of falsely classified goods; computer crime;

and any felony violation of the Foreign Agents Registration Act of 1938.

It also allows the forfeiture of any property within the jurisdiction of the United States that was gained as the result of an offense against a foreign nation that involves the manufacture, importation, sale, or distribution of a controlled substance. Foreign nations may now seek to have a forfeiture or judgment notification enforced by a district court of the United States. This is done through new legislation that specifies how the U.S. government may apply for a restraining order to preserve the availability of property which is subject to a foreign forfeiture or confiscation judgement. In taking into consideration such an application, emphasis is placed on the ability of a foreign court to follow due process. The Act also requires the Secretary of Treasury to take all reasonable steps to encourage foreign governments make it a requirement to include the name of the originator in wire transfer instructions sent to the United States and other countries, with the information to remain with the transfer from its origination until the point of disbursement. The Secretary was also ordered to encourage international cooperation in investigations of money laundering, financial crimes, and the finances of terrorist groups.

The Act also introduced criminal penalties for corrupt officialdom. An official or employee of the government who acts corruptly—as well as the person who induces the corrupt act—in the carrying out of their official duties

will be fined by an amount that is not more than three times the monetary equivalent of the bribe in question. Alternatively they may be imprisoned for not more than 15 years, or they may be fined and imprisoned. Penalties apply to financial institutions who do not comply with an order to terminate any corresponding accounts within 10 days of being so ordered by the Attorney General or the Secretary of Treasury. The financial institution can be fined $US10,000 for each day the account remains open after the 10-day limit has expired.


Standard Deduction

Current law: $6,350 standard deduction for single taxpayers and $12,700 for married couples, filing jointly.

Proposed: $12,000 standard deduction for single taxpayers and $24,000 for married couples, filing jointly.
Individual State and Local Tax Deductions

Current law: Individuals can deduct the state and local taxes they pay, but the value is subject to certain limits for high earners.

Proposed: Individuals can deduct no more than $10,000 worth of the deductions, which could include a combination of property taxes and either sales or income taxes.

Proposed tax brackets out:

joint filers:

10 percent: $0 to $19,050
12 percent: $19,050 to $77,400
22 percent: $77,400 to $165,000
24 percent: $165,000 to $315,000
32 percent: $315,000 to $400,000
35 percent: $400,000 to $600,000
37 percent: $600,000 and above

For single filers:

10 percent: $0 to $9,525
12 percent: $9,525 to $38,700
22 percent: $38,700 to $70,000
24 percent: $70,000 to $160,000
32 percent: $160,000 to $200,000
35 percent: $200,000 to $500,000
37 percent: $500,000 and above

One more child molester

The man who launched America’s largest and longest-running Christian music festival has been “indefinitely suspended” from the ministry and his church following his arrest Wednesday on charges of child molestation.

Your daily news briefing from the editors of CT.

Harry L. Thomas, founder of the Creation Festival and senior pastor of Come Alive New Testament Church in Medford, New Jersey, has been accused of sexually assaulting four children over a 16-year period between 1999 and 2015.

The church stated that the alleged misconduct was “unrelated” to his leadership.

Thomas - Count - Assault - Counts - Assault
Thomas, 74, has been charged with one count of aggravated sexual assault, three counts of sexual assault, and four counts of endangering the welfare of children, according to the prosecutor’s office in Burlington County, New Jersey, where Thomas lives and where his church is located.

Authorities have refrained from releasing further details in order to protect the identity of the victims.

Creation Festival Founder Arrested for Alleged Child ...
Harry - L - Thomas - Founder - Creation ... founder of the Creation Festival and senior pastor of Come Alive New Testament Church in Medford, New Jersey, has been ...

Fall out from Moore loss?

Omarosa Manigault, former 'Apprentice' star, resigns from White House

1 hour ago - A former contestant on President Trump's reality show resigned Tuesday and will officially depart the White House on Jan. 20, 2018, White House press secretary Sarah Sanders said Wednesday. “Omarosa Manigault Newman resigned yesterday to pursue other opportunities," Sanders said in a statement ...

Well there is this

. He shall be known by his sign

And that shall be of one word

His breath will be sweet and his words as honey poured into your ears

His colors are gold and pitch

His queens shall number four

He shall have no kingdom, but the riches of a king

He shall have no high priest of the Temple to council him

And the people shall come to him as do the sheep to the shepherd

The lamb unto the slaughter.

From the washington examiner

Senate Republicans revealed an amended tax reform bill late Tuesday night that would phase out the individual tax reductions in order to make the budget math work.

In the altered bill released by Senate Finance Committee Chairman Orrin Hatch, R-Utah, all the tax breaks on the individual side of the code — including the lower tax rates, doubled standard deduction, expanded child tax credits, and tax cuts for noncorporate businesses -- would revert back in 2025. The only major individual change that would remain in place is a stingier measure of inflation that would effectively raise taxes over time by pushing families into higher tax brackets.

Those stark changes are meant to address the problem facing the original bill, namely that it would have run afoul of budget rules by adding to deficits beyond the 10th year. By conflicting with the rule, the bill could not proceed through the reconciliation process that would allow it to avoid a Democratic filibuster.

The updated bill appears to accord with the Senate rules. It is a $1.4 trillion tax cut over 10 years that turns into a tax hike over time, raising $30 billion in the 10th year, according to Congress' Joint Committee on Taxation.

The improved score is partly a reflection of the fact that many individual tax breaks expire. Also, Republicans had announced earlier Tuesday the the amended bill would repeal Obamacare's individual mandate penalties, a change that freed up $318 billion over the decade.

Happy Birthday Marines

Poor rich kids need a tax cut.

Brady’s bill would immediately deliver large tax cuts to the heirs of the nation’s wealthiest estates. Doubling the value of an estate that’s exempt from the tax — from the current $11 million per couple to $22 million — would give the largest estates each a tax cut of up to $4.4 million. Then, repealing the tax would give about 330 estates (which are each worth more than $50 million) each a tax cut averaging more than $20 million compared to current law.

With the current $11 million exemption for couples ($5.5 million per person), estates already must be extraordinarily large to face any estate tax. Due in part to the fact that policymakers drastically weakened the estate tax in recent decades, only 0.2 percent of all the estates in America are large enough to exceed the current exemption, leaving 99.8 percent of estates to face no estate tax at all.

Center on Budget and Policy Priorities

Universal rules.

1 No one can fix the stupid.

2 No one can stop the crazy.

3 Never under estimate the power of the stupid or the crazy.

4 There are no restrictions to where the stupid or crazy will appear.

5 Paper or plastic.
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