Showing posts with label bureaucracy. Show all posts
Showing posts with label bureaucracy. Show all posts

Saturday, April 05, 2014

IRS Rules Bitcoin Property Not Currency.

The IRS ruled that virtual currency, such as Bitcoin (BTC),  is not considered currency, but property for U.S. federal tax purposes. In other words, it does not have legal tender status in any jurisdiction

“The Internal Revenue Service (IRS) is aware that “virtual currency” may be used to pay for goods or services, or held for investment. Virtual currency is a digital representation of value that functions as a medium of exchange, a unit of account, and/or a store of value. In some environments,it operates like “real” currency-- i.e., the coin and paper money of the United States or of any other country that is designated as legal tender, circulates, and is customarily used and accepted as a medium of exchange in the country of issuance -- but it does not have legal tender status in any jurisdiction.

Virtual currency that has an equivalent value in real currency, or that acts as a substitute for real currency, is referred to as “convertible” virtual currency. Bitcoin is one example of a convertible virtual currency. Bitcoin can be digitally traded between users and can be purchased for, or exchanged into, U.S. dollars, Euros, and other real or virtual currencies. For a more comprehensive description of convertible virtual currencies to date, see Financial Crimes Enforcement Network (FinCEN) Guidance on the Application of FinCEN’s Regulations to Persons Administering, Exchanging, or Using Virtual Currencies (FIN-2013-G001, March 18, 2013)
General tax principles that apply to property transactions apply to transactions using virtual currency. Among other things, this means that:
  • Wages paid to employees using virtual currency are taxable to the employee, must be reported by an employer on a Form W-2, and are subject to federal income tax withholding and payroll taxes.
  • Payments using virtual currency made to independent contractors and other service providers are taxable and self-employment tax rules generally apply. Normally, payers must issue Form 1099.
  • The character of gain or loss from the sale or exchange of virtual currency depends on whether the virtual currency is a capital asset in the hands of the taxpayer.
  • A payment made using virtual currency is subject to information reporting to the same extent as any other payment made in property.
Really? Does the IRS really expect everyone who buys a cup of coffee with digital "currency," like BTC, to track capital gains? What a bureaucratic nightmare! However, I'm sure the IRS has no problem creating more administrative bureaus to deal with tracking virtual "currency" transactions. Not to mention, the burden on virtual "currency" users. But as Oscar Wilde said, "The bureaucracy is expanding to meet the needs of the expanding bureaucracy."

Links:

What the IRS Bitcoin Tax Guidelines Mean For You

Are the IRS Capital Asset Rules Realistic for Small Transactions?

Fiat Link - watch the world's currencies flow into BTC in real time.

Read more...

Sunday, September 18, 2011

Watch How the FDA Suppresses a Cure For Cancer.

The following documentary is a MUST-SEE for everyone! I have yet to see anything so fully documented that exposes the extraordinary measures that the FDA will resort to in order to ensure that cancer remains the killer that it is, and  that Chemotherapy remains the torture-chamberous non-curing treatment that it is. Not to mention, this film, in addition to detailing the FDA's 14 year campaign to remove Dr. Stanislaus Burzynski, who found a cure for cancer, from society, also reveals the battle Dr. Burzynski had with the National Cancer Institute, who is just as bad.


"Our bodies contain two categories of genes that allow cancer to flourish: oncogenes, and tumor suppressor genes. When someone has cancer, they have a higher level of oncogenes switched on, with a higher level tumor suppressor genes switched off.

The goal is to tell the body to both switch back on the tumor suppressor genes, and turn off as many oncogenes as possible."
It comes to no surprise to most of us that the median annual American pharmaceutical company profits triples the median annual profits of all of the Fortune 500 companies. But, how does Big Pharma maintain these astounding profits? Well, through its gatekeeper: the FDA, and the National Cancer Institute.

"Big Phama" didn't manifest overnight. It was an ongoing process that started in the 1970s and 1980s.  At the time,  profitability of the pharmaceutical industry was two times greater than the median of all industries in the Fortune 500. In the 1990s, when the Prescription Drug User Fee Act (PDUFA)- which authorizes drug companies to pay "user-fees" to the FDA for each brand-name drug considered for approval, greatly speeding up the approval process - kicked in, the drug industry's profitability grew to almost four times greater than the median for all industries in the Fortune 500.

After the PDUFA was enacted, the part of the FDA that reviews new drugs received more than half its money from user fees and it grew by leaps and bounds.  Meanwhile, the part of the FDA that monitors safety, ensures manufacturing standards, and checks ads for accuracy deteriorated. Not only that, the approval process for brand-name drugs shortened to 3 months, from its previous 21 months. Yet, here it is 2011, and Antineoplaston Therapy has been waiting approval since 1977.

On June 21, 1977, Dr. Burzynski's attorney's investigated both state and federal law to find out if it was legal for him to start his own biomedical research company to make the Antineoplastons (non toxic cancer treatment) and administer them to patients within his private practice.  He found out it was legal as long as he avoided interstate commerce.

However, it was not soon after that Burzynski's patients found themselves harassed by the Texas State Board of Medical Examiners(TMB) to file charges against their doctor, and the FDA started its witch hunt.

In 1983, the FDA obtained an injunction from a federal district court prohibiting Dr. Burzynski and the Burzynski Research Institute from shipping antineoplastons in interstate commerce without first obtaining the approval of the FDA. The injunction, however, did not preclude intrastate distribution of the antineoplastons.

On July 28, 1986, the TMB began investigating Dr. Burzynski, even though no formal complaint had been filed, and on November 18, 1986, a notarized agreement between Burzynski and the TMB was created requiring the doctor resent a list of 40 successful cases.  He submitted double that number. He never heard back.

On September 6, 1988, the TMB convened a hearing to decide whether or not to revoke Burzynski's medical license. Texas State Board of Medical Examiners vs. S. Burzynski

Dr. Burzynski faced numerous battles with the federal government over the years. Between 1986 and 1994, he was subjected to three federal grand jury investigations. No indictments were ever handed down. However, during that time federal officials raided his research clinic and confiscated his patients' medical records.

Then in March 1995, Dr. Burzynski appeared on the CBS TV show "This Morning," accompanied by three of his patients. That very afternoon, the FDA raided his clinic again. A fourth federal grand jury investigation got underway, and by November 1995, charged Dr. Burzynski with 40 counts of distributing a non-FDA approved drug in interstate commerce, 34 counts of mail fraud, and one count of contempt of court for violating the order against interstate delivery of Antineoplastons. Rep. Joe Barton (R-TX) noted that a grand jury's failure to indict someone after three attempts is "virtually unprecedented."

On February 9, 1996, US District Court Judge Sim Lake ruled that Dr. Burzynski cannot treat patients outside of clinical trials. In other words, he issued a death sentence for hundreds of Dr. Burzynski's patients.

This prosecution marked the first time the FDA had tried to jail a scientist for using a drug on which he was conducting FDA authorized clinical trials. This trial alone, which was not even based on whether or not antineoplastons work or not cost the American taxpayer $60 million, while costing Dr. Burzynski over $2.2 million!

On March 4, 1997, due to a dead-locked jury, a mistrial was declared.

The FDA still did not back down. A second federal trial got underway May 19, 1997 to try Dr. Burzynski on the contempt of court charge. A federal jury acquitted Dr. Burzynski on May 27, 1997.

At the same time, Dr. Burzynski was fighting the Texas Medical Examiner's Board and the FDA, the National Cancer Institute, under Dr. Michael Friedman, tried to co-opt his discovery and render it ineffective.

A former employee of Dr. Burzynski, Dvorit Samid, betrayed him when she partnered with Elan Pharmaceutical through her employment with the National Cancer Institute and tried to hijack Burzynski's discovery. The problem was that she used only one component of the antineoplaston, phenylacetate, which when isolated, has very little clinical effect.

When that didn't work, the National Cancer Institute said they would accept Dr. Burzynski's antineoplastons; however, only if they could revise the protocol that Dr. Burzynski had perfected. Burzynski refused. The NIC threatened with patent infringement. Finally, they came to an agreement. Yet, within a very short time, in March 1995, the NIC tried to drastically alter Burzynski's protocol to make his treatment less effective!!

Four years after the NCI trials were closed and two years after Burzynski defeated the FDA, winning his freedom, the NCI, in February of 1999, decided to vindictively publish the scientifically invalid Antineoplaston trials in peer-reviewed medical literature. However, whoever published the invalid trials forgot to leave out the dosage, which in some patients was 2.7 times lower than the protocol demanded, and in other patients, 36 times lower, and, in even other patients, 170 times lower!

Li-Chuan Chen, PhD, who worked as a scientist for the National Cancer Institute from 1991-1997, said that when the NCI or assigned entities conducted trials on alternative cancer therapies they always altered the protocol and let it fail in order to discredit the therapy. He went on to say, "Scientists never look at it carefully, because as he says, Popeye is telling you something and you don't question him...under the capitalist sun, there is nothing sacred."

Here's the kicker. On October 21. 1991, the United States of America as represented by the Department of Health and Human Services, along with "Inventor": Dvorit Samid filed a patent for Antineoplastons. On October 12. 1993, the US and Dvorit Samid file for a second patent on Antineoplastons. And on March 7, 1994, the US and Dvorit Samid file its most comprehensive patent spanning 111 pages. Seven months later they file a fourth one. On 6/6/1995, the US files its 5th, 6th, 7th, and 8th extended patent. The next day, the US files its 9th, 10th, and 11th patent. A few months later, Dr. Michael Friedman leaves his position at the NCI and becomes Deputy Commissioner of Operations for the FDA, working directly under Dr. David Kessler.

In the three years (1997-2000) after Dr. Burzynski was indicted, all of the US patents for Antineoplastons were approved. However, one paragraph within these patents, in particular, is quite revealing:


Since 2009, the  only obstacle in the way of Antineoplasmons is the $300 million pricetag on the final phase of FDA clinical testing...and the FDA's requirement that children with inoperable brainstem glioma to also under go radiation treatment in these Phase 3 trials, claiming it would be unethical to do otherwise. 



Links:

Big Pharma Deals to Preserve High Drug Prices Skyrockedted in FYI 2010

The Truth About Drug Companies by Marcia Angell

Pay-For-Delay: How Drug Company Pay-Offs Cost Consumers Billions


Families USA

Bush Administration Back Pharmaceutical Industies Over the Needs of Millions of Senior Citizens

Read more...

Friday, July 08, 2011

FDA Set to Outlaw Nutrition.

Demonizing people, even though they pose no threat to the public appears to be the goal of the code enforcement bureaucracy that is out in full force, recently, as in the case of  Julie Bass of Oak Park, Michigan, who is facing 93 days in jail after being charged with a misdemeanor for planting a vegetable garden in her front lawn.



Moreover, the political agenda that drives these relentless code enforcement systems around the nation tend to zero in on self-sufficient living, the safety of dietary supplements, and/or anyone who dares to explore beyond the conventional unbending framework of government.

Take the FDA, who wants all super-foods, multivitamins, detox supplements, and medicinal herbal products created after 1994 stripped from store shelves, and outlawed across the nation. Never mind, the lethal drugs they knowingly allow to stay on the market for decades.  Chantix, which has been linked to more than 3,000 reports in the U.S. of serious side effects, including suicides, heart trouble and aggression, according to a Bloomberg article in 2008. Fast forward to 2011, Chantix has been found to increase the risk of heart attack or arrhythmia by 72%! What's the FDA's response? They're weighing the evidence. They're still not sure whether they will ban this killer drug.

Links:

The Inhumanity of Government Bureaucracies

Read more...

Sunday, June 14, 2009

Betrayal of the American Soldier.

A little over one year ago I blogged about America's outrage over Elliot Spitzer's hypocrisy despite the lack of outrage over the duplicitous way we allow our government to impose further punishment on the young men, we glibly "honor" with dollar store "patriotism".

Instead of making it as easy as possible for our soldiers to reenter "civil" society, we basically send them back into battle, to receive what amounts to, if they're lucky, a modicum of care.

As soon as the soldier is discharged from the military, he immediately loses all of his benefits, no matter how severe his injuries. It makes no difference whether the soldiers are severely wounded or not, they must be processed through the archaic paper based system, still in existence thanks to tax cuts for those who need an entire staff to track their wealth, in an effort to prove themselves worthy of receiving any compensation for the wounds sustained abroad.

Returning soldiers are handed 500 pages to read, and 26 pages of paperwork to fill out, after which they must wait, at the very least, six months, or - should something go wrong during these unnecessary procedures and red tape - up to two years to qualify for Veterans’ benefits.

That's not all. Our tax system is set up in such a way that the burden is on the government to prove that what we're presenting as true, is false, by auditing a small subset of taxpayers, in hopes that that will be enough to prevent people from cheating the system.

In contrast, we place the entire burden of proof on the soldier/veteran. The presumption is that whatever the veteran is claiming is wrong with him is not the result of serving their country, therefore he must gather all the documentation, doctor’s notices, all of the hospital forms and all the things from all the different places to prove he is indeed injured and in need of care, even though prior to his discharge from the military, his condition was already confirmed.

In his new book, The War Comes Home: Washington's Battle Against America's Veterans, authorAaron Glantz clears away the smoke and mirrors created to deceive us about the soldier and veteran's reality. He systematically documents the US government and the Bush Administration's treatment and neglect of America's returning soldiers and veterans from the wars in Iraq and Afghanistan, and confronts America's willful ignorance of those we claim to support, replacing myth with the grim facts.

Read more...

Sunday, December 02, 2007

Why Does Our Government Overwhelm the Overwhelmed?

Jefferson Parish president, Aaron Broussard, openly wept during a television interview in which he declared, "Bureaucracy has committed murder here in the greater New Orleans area, and bureaucracy has to stand trial," after the Katrina debacle, when more red tape was added for the victims of this terrible disaster.

Hurricane Katrina illuminated the issue of how often unnecessary procedures and red tape keep most of the poor or "almost poor" in America permanent members of the underclass. Government programs impose more hurdles on people, most of whom can barely keep their heads above water as it is. Instead of throwing the drowning person a life preserver or rope, he is handed a complicated instruction manual on how to save himself.

It seems as if the Bush Administration's mission is to not only ensure the permanency of this country's underclass but to increase its membership exponentially.

A few years ago, when the Bush Administration was pushing for somewhere between a half trillion and three quarters of a trillion dollars in new tax cuts for wealthy Americans, they were also planning to get tougher with the working poor by forcing EITC (Earned Income Tax Credits) recipients to go through a precertification process because the EITC was actually helping the working poor. The [EITC] credit is already confusing for taxpayers considering the instruction manual alone is 54 pages. Yet, the Bush Administration wanted to make it a little bit tougher for this group of Americans, some of whom work two and three jobs just to make ends meet.

Many people complain that these social programs designed to help the poor will foster dependence on the government and instead of a safety net, will become a way of life. The problem with that argument is that many of the working poor are working around the clock and still can't pay their bills; can't take their children to the doctors; and can't help their children with homework when children need help more than ever to keep up with "No Child Left Behind".

"If you give a person a fish, he eats for a day; teach him to fish, and he will eat for a lifetime," is a favorite quote of those opposed to welfare yet the way our system is set up it does the exact opposite. People in need do not get a chance to "learn to fish for a lifetime" because either they are working too many hours to find the time to locate these programs and climb through all the hoops necessary to gain entrance, or they fail to qualify because they're working.

Government bureaucracies are structured to obstruct those less fortunate from working their way out of the underclass because the people at the top want to stay on top. In order for those at the top to stay in control a certain percentage of the population must be kept busy struggling to survive. This will prevent a large number of the "underclass" from discovering what's really going on which may unite them to become a force to be reckoned.

Read more...

  © Blogger templates The Professional Template by Ourblogtemplates.com 2008

Back to TOP