Doomscroll News 🇺🇸 – Page 6 – No to DNC/UBI, GOP omnibus bills, or Musk's BTC party. Yes to pro-America tariffs & building a self-reliant economy.

Doomscroll News 🇺🇸

No to DNC/UBI, GOP omnibus bills, or Musk's BTC party. Yes to pro-America tariffs & building a self-reliant economy.

Part III: Analyzing the “Big Beautiful Bill”: A Look at New Taxes, Fees, and Revenue Raisers
The proposed “Big Beautiful Bill” (BBB) introduces a sweeping range of new taxes, fees, and revenue-generating measures that demand close scrutiny. This article examines key provisions, aligning with a vision that prioritizes American interests and fiscal responsibility.

Measures to Potentially Bolster American Interests:

Several proposed measures in the BBB could be seen as aligning with an “America First” approach:
- Excise Tax on Remittance Transfers (Sec. 112104): This provision introduces a new tax on money sent abroad. Such a measure could be viewed as a way to retain capital within the country and generate revenue from outflows.
- New Immigration-Related Fees (Title VII, Part 1): The bill imposes new fees for various immigration processes, including asylum applications, employment authorizations for certain non-citizens, and for sponsors of unaccompanied children who fail to meet court appearance requirements. These fees ensure that the immigration system is not an undue burden on the taxpayer and that those who use the system contribute to its costs.
- Fee on Natural Gas Exports and Imports to Non-FTA Countries (Sec. 41002): This establishes a fee on natural gas trade with countries not part of a Free Trade Agreement (FTA) with the U.S. This is a strategic move to favor trade with FTA partners and generate revenue from other international gas transactions.
- Modification of Vessel Tonnage Duties (Sec. 100002): Changes to vessel tonnage duties (taxes on ships entering U.S. ports based on their cargo capacity) updates these fees to better reflect modern shipping practices and ensure fair contribution from international maritime commerce.
- Termination or Restriction of Clean Energy Tax Credits (Title XI, Subtitle C, Part 1): The bill calls for ending or limiting various clean energy tax credits, such as those for electric vehicles, alternative fuel refueling property, and energy-efficient home improvements. This aligns with the perspective that such credits may represent market distortions or handouts and that their removal levels the playing field.
- Increased Excise Tax on Private Foundation Investment Income (Sec. 112022): An increase in the excise tax on the net investment income of certain private foundations, based on asset size, is proposed. This is a way to ensure that large, tax-exempt foundations contribute more to public revenue, particularly if there are concerns about how these funds are being utilized or if they are perceived as benefiting from arrangements that do not primarily serve domestic charitable purposes.
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June 21, 2025
Business Tax Devolutions: A Critical Dissection of Title XI, Subtitle B, Parts 1 & 2

The recently proposed business tax measures under Title XI, Subtitle B, Parts 1 & 2, are presented as beneficial reforms. However, a closer examination reveals a series of provisions that range from questionably effective to deeply detrimental to American interests and fiscal responsibility.

Sec. 111001: Extension of Special Depreciation Allowance (Bonus Depreciation) – A Recipe for Misallocation

This section proposes extending 100% bonus depreciation for property acquired after January 19, 2025, and placed in service before January 1, 2030. This isn’t sound economic policy; it’s a blatant handout, likely to benefit well-connected insiders. Reports of companies already stockpiling assets suggest this will merely accelerate a pre-existing rush to capitalize on a temporary distortion. Such a policy actively encourages a misallocation of resources, incentivizing potentially unnecessary capital expenditure over more sustainable investments or debt reduction. It’s a short-sighted pump for certain sectors that will only exacerbate our national debt, not alleviate it.
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June 21, 2025
Reforming Individual Income Taxes: A Focused Approach (Part I of a BBB Critique)

The current discourse around individual income taxes is cluttered with temporary fixes, unpopular mandates, and provisions that miss the mark for many Americans. Instead of a sprawling bill, a more focused approach is needed, prioritizing permanent, common-sense changes while jettisoning controversial or ineffective measures. Here’s a look at what such a refined individual income tax bill should, and shouldn’t, include.

Core Tax Provisions: Stability and Simplicity

At the heart of a sensible tax reform should be the permanent extension of several key provisions initially from the Tax Cuts and Jobs Act (TCJA). This includes making permanent the modified individual income tax rates, the increased standard deduction, and the termination of personal exemptions. These measures offer a baseline of stability for taxpayers.

However, the idea of a temporary enhancement to the standard deduction, proposed for taxable years 2025-2028, should be rejected. Such short-term measures are often gimmicks, creating fiscal uncertainty and providing future leverage for increased government spending without addressing the immediate need for significant fiscal discipline now.
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June 21, 2025
Honey, JPM Shrunk the Collateral: Betting on Crypto ETFs Like It’s Not 2008 Anew

JPMorgan Chase’s recent decision to allow trading and wealth management clients to use crypto Exchange Traded Funds (ETFs) as collateral for loans is a concerning development that introduces multiple layers of risk. This move, starting with BlackRock’s iShares Bitcoin Trust, integrates a volatile and complex asset class into traditional lending practices, which will have significant negative consequences.

Custody and Ownership Concerns: “Not Your Keys, Not Your Crypto”

A primary concern with crypto ETFs is the nature of ownership and custody.

Lack of Direct Ownership: When investing in a crypto ETF, individuals do not own the underlying cryptocurrency directly (Investopedia). Instead, they own shares of a fund that holds the crypto. This means investors cannot take custody of their share of the crypto assets; they can only trade the ETF shares.

Reliance on Custodians: Crypto ETFs depend on custodians to safeguard the underlying digital assets. This reliance introduces significant risks:

Single Point of Failure: Crypto ETFs rely on custodians, such as Coinbase, which holds a significant percentage of Bitcoin for these ETFs. This concentration is concerning, as any major operational issue, security breach, or insolvency at the custodians will have disastrous consequences for the ETFs and their investors.
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June 21, 2025
Federal Reserve Notes vs. United States Notes

United States Notes differed from the later Federal Reserve Notes primarily in their issuing authority and initial backing.

How United States Notes Initially Worked: United States Notes were first authorized by the First Legal Tender Act in 1862 during the Civil War. They were issued directly by the U.S. Treasury to pay for war expenses and other government obligations. This meant the government itself was putting this money into circulation, essentially as a “bill of credit,” without involving lending or borrowing from a central bank. Initially, these notes, popularly known as “greenbacks,” were a form of fiat currency, meaning their value was based on government decree rather than being backed by a specific commodity like gold or silver that could be redeemed on demand. However, later, some United States Notes were redeemable for precious metal after the specie resumption of 1879. The early notes carried an obligation stating they were legal tender for all debts, public and private, except for duties on imports and interest on the public debt.

A Silver Certificate
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June 21, 2025
Shopify & The Fentanyl Bank Rot

TD Bank, a major Canadian financial institution potentially among Shopify’s banking partners, faces a massive scandal. In early 2024, public reports revealed that TD Bank is under U.S. federal investigation, including by the Department of Justice, for its alleged role in laundering hundreds of millions of dollars in illicit fentanyl profits and other drug money through its U.S. branches. Chinese crime groups and drug traffickers reportedly used TD to launder money from U.S. fentanyl sales. As a consequence, TD Bank pleaded guilty to conspiracy to commit money laundering and agreed to pay approximately $3 billion in a settlement. This situation stemmed from “chronic failures” in its anti-money laundering (AML) program, which allowed criminal enterprises to flourish. The Financial Crimes Enforcement Network (FinCEN) assessed a record $1.3 billion penalty against TD Bank for these Bank Secrecy Act violations.
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June 21, 2025
MSM & Wikipedia Lies: SA Farmer Killings & Missile Proliferation

I believe that President Trump’s assertions regarding the systemic killing of white farmers and the seizure of their land in South Africa are not only accurate but are being actively suppressed. I believe US intelligence agencies and mainstream media outlets possess far more information than they are publicly disclosing.

I further believe that online encyclopedic resources like Wikipedia are subject to censorship, pointing to a suspicious “statistical anomaly” where pages are conspicuously devoid of any “happenings,” indicating a deliberate omission of violent events. President Trump is, I believe, acutely aware of the alleged dishonesty permeating from various sources, including the media, the South African government, and these online platforms.
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June 21, 2025