No Income Tax Under $150K? Game Changer or Fantasy? | I Allegedly

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There is no Law Requiring most Americans to Pay Federal Income Tax

 

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Summary

➡ The I Allegedly episode talks about how the Trump administration is considering a proposal to eliminate income tax for individuals earning $150,000 or less, which would affect about 85% of the country. This plan also includes removing taxes on tips and overtime, which could significantly impact workers who rely on these income sources. Additionally, there’s a proposal for a “golden ticket” for immigration, where a $5 million fee could expedite the process for high-quality candidates. However, these plans are still under discussion and have not been finalized.

➡ The text discusses the importance of investing in silver, shares a story about a woman who won an $800,000 settlement after her daughter was burnt by a hot chicken nugget from McDonald’s, and expresses concern over illegal immigrants obtaining loans. It also criticizes TD Bank’s decision to close 38 branches, claiming it’s a cost-cutting move rather than a service improvement.

 

Transcript

Hi, I’m Dan. Welcome back. This is I Allegedly. And I’ve got a good one for you today because there is a proposal for no income tax if you make $150,000 or less. Kaboom. Wow. Okay. Let’s get right into it. Plus, we have a sponsor today too. Howard Lutnick is the Commerce Secretary. And he made the rounds this week. He started with CBS News talking about how the Trump administration would like to first of all balance the budget. And as they do that, they want to do one thing and that would be eliminate taxes on people that make $150,000 or less.

Now guys, look at the chart from Statista. This is the economic breakdown. It’s about almost like 85% of the country makes $150,000 or less. Now, you can sit there and say, oh no income tax. This is crazy. First thing they want to do is they want to get rid of tax on tips. They want that done. And it looks like they’re going to be pretty close to getting that done because a lot of people feel positive about it. And the next thing is no tax on overtime. Well that, you know, again, you guys, every time I talk about this, I have families that write me and say, Dan, you have no idea what a difference it would make because whether you are a police officer, you are a plumber.

You work for the county. You do a different job. I have a friend of mine who recently retired from the county and told me that the majority of his income, he made a bloody fortune with his overtime. And they just would sit there and look at the paychecks. You’d get the stub, you know, twice a month and he would just sit there and look at that and just be blown away at how much tax he had to pay on this and that that would just make a huge, huge difference. Now, think about this.

They want to balance the budget and they want to get rid of, you know, all this, you know, waste, fraud and abuse first thing. You’re going to see things change as far as all these programs are eliminated. We’ve talked about this. You know, this is not an original idea. Barack Obama came up with this. Bill Clinton came up with this. And now because it’s Donald Trump, it’s a bad idea. So think about this with Doge. I mean, I shared this on the private channel and scrolled, you know, things that Doge did over the course of the last week.

It’s crazy. I mean, it’s daily. There is stuff that they find. But Howard Luttnick is not an imbecile. This guy, you know, has been with Tantra Fitzgerald. He became chairman in 1991, became CEO a couple of years, became CEO first, then chairman after that. This guy knows finance. And what they’re talking about is making it so that the whole economy basically, no income tax is what it would basically be. So would this make a difference in your life? I think it would make a difference in your family’s lives and the economy.

It would spur people to buy things. It would spur people to save. It would spur people to have money left over at the end of the week. People don’t even know what that’s like anymore. Don’t know what it’s like. Inflation, I don’t believe it’s anywhere near its head. I believe it’s coming down. I truly do. But we’re finally getting a hold of it, but not enough that they’re going to lower interest rates or change the path that the Fed is on right now. I don’t see that happening. It’s been raining here for three days, and it’s nice to come out here after a storm and see this place.

It’s just beautiful. So do you think this is realistic? Do you think this is just high in the sky? Think about this. They’re talking about cutting a trillion dollars out of the budget, $1 trillion, and balancing the budget. The last time we had a balance budget for your history bus was Bill Clinton. Now, the other thing that they’re talking about is the golden ticket for immigration. If you have a person that is a good quality candidate, and you think that they’re somebody that could absolutely change and revolutionize your company, well, you can go to the front of the line for a green card and for citizenship.

It’d have to be vetted. There’s going to be no problems. You know, not going to have any felons or anything fun like that coming through. But that would cost you $5 million. Now, they think they can raise a trillion dollars with this alone, $1 trillion. Guys, it’s only 200,000 people. Hello, hello, hello, hello, hello. It’s a lot of money. So we’ll see if that goes through or not. But do you believe any of this stuff? Do you believe they’re going to balance the budget? What do you think? What do you think about this? Do you think it’s just pie in the sky? Do you think it’s just wishful thinking? I think that we’re heading in the right direction.

I’m old enough to remember Ronald Reagan. I’ve talked about this before. And man, we had a really, really rough patch last time. And my father’s business suffered during this time. And then it got better. Everything got better. So I think that’s kind of where we’re at. We’re at a point where people are going to lose their jobs. There’s going to be massive layoffs, massive cutbacks. It just announced that they’re going to cut 10,000 jobs from the US Postal Service that are redundant and unnecessary. Well, last time I went to the post office, the line was long, and I wish they had more people to work there.

So I didn’t know anything redundant and unnecessary about that. So let me know what you think about this. You can read the story below on this. But do you think this is just all it’s all campaign hype? Or do you think it’s real? What do you think? That’s the important thing. I want to know, you know, write your comments below. Let me know what you think. Let us all know. Let’s talk about our sponsor Patriot Gold Group. Wow, what a week for gold. We saw gold hit an all time high last week of $3,000 an ounce.

Trump’s tariffs and the threat of tariffs around the world have really done a lot to bolster gold right now. You need to protect yourself and your future and contact Patriot Gold Group today. 888-330-1431. Let them answer all your questions. Find out how gold in your portfolio can really change your retirement. They’ve been number one rated for nine years in a row now. And for good reason, guys, outstanding customer service. They’ve done well over a billion dollars in transactions. Contact them today. Do yourself a favor. You know, so many experts have just said that this is a tumultuous time.

Paul Singer, the financial guru, he’s talking, you know, about how this is the scariest market he’s ever seen. Protect yourself and your family. Call Patriot Gold Group now. 888-330-1431. Let them know that Dan from I allegedly sent you. You know, there are telltale signs in the economy when things start to go a certain direction. They’re good. They’re bad. But one guy that I follow is Warren Buffett. And I am always amazed at things that this guy has predicted accurately. If his latest prediction is, if this is true, then this is a very telltale sign of where the real estate market’s going right now.

And it looks like he wants to sell the Berkshire Hathaway brokerage company and all their real estate holders. That would be wild if he did that. That would just, you know, this guy doesn’t lose. The guy gets out before things go too south. So if that’s the case, then you’re going to see, you know, I think it’s just an ominous sign myself. Now, another ominous sign is how many people owe more money on their house and what it’s worth from public records that we know right now, 1.1 million people, 1.1 million houses are worth less than they owe on it.

That is the kiss of death. That is divorce. That is business failures. That is everything that could possibly go wrong with it. And nothing is worse than making a house payment for something that, you know, is just like throwing money away. And so many people have written me a given examples of, you know, people that rent houses for 3,500 bucks a month and their neighbors paying nine grand to live in the same street. House isn’t any nicer. It’s just a different look, different feel. You get to own it. And guess what? The guy paying the $3,500 a month is not worried about his main sewer line or the electrical going back.

It’s just not his concern. Wow. Next one is silver. Is it silver’s time to shine? You know, gold, we’ve seen gold hit over $3,000 an ounce. And Dave sent me a great article about how silver, you know, is just ready to go. There’s resistance at $32, $33 an ounce. And now we could dramatically see silver shoot up as well. So I think everybody should have silver. I’m telling you guys, you should have silver in your portfolio. You should have silver in your pocket. You should have silver with you. And it should be part of your investment because as gold, you know, hits $3,000 an ounce, we’re going to talk about this later on in the week about how, you know, easily you could see gold go to $4,000 an ounce for the experts.

Next stop is 3,500. Silver’s next to take on. Now, Felina Holmes had a daughter, took her to McDonald’s in Florida. This wild story. You’ve heard the story about the woman that spilled coffee on herself and then got, you know, $2 million and all that stuff. Well, Felina took her daughter, got two Happy Meals for her and her daughter, drove away and handed her daughter the Happy Meal who was in the car seat who was four years old. Well, the daughter rips open the Happy Meal and one of the chicken nuggets slid down on the side and went between her leg and the car seat and burnt the little girl so bad that she had secondary burns, which is horrible.

Felina just got $800,000 by a jury for that. Now, she wanted $15 million, okay, but they gave her $800,000. So what do you think about that? You know, I just, you know, four-year-old can’t, you know, she’s driving. I mean, I’ve, we’ve all been parents. We’ve all been distracted. Shut up and eat, you know, see how it works. But it’s crazy and it’s crazy sad, but do you feel for stuff like this? Do you think that this is justified to give somebody an $800,000 settlement? There is something out there blowing spouting.

I just saw a shout out there. Let’s see if we can see it again. That is wild. Okay. Got the camera in the wrong direction. Anyways, let me know what you think about this so far. It’s a beautiful day. It’s rained for three days straight, guys. That’s just so nice to get out in the sun and the sun beating on my face. That’s just beautiful. Let me know what you think so far. Just a quick video today. Have you ever gotten a loan before? I know the answer is yes, but what blows me away at times is how certain things get posted in the press and we’re like, we’re like, how did that happen? You know, a tremendous amount of subprime mortgages right now that they think are going to go bad are from people that are not from this country that are here illegally.

How do you get a loan? How do you get a job? How do you verify your income? Are they using that mother-son bank I talked about a couple days ago? Isn’t that wild to think about? So again, oh my god, I mean I had a colonoscopy every time I got a home loan. You know, it was terrible. So, but these, yeah, yeah, I got a job. I’ve got a job. I’ve looked for Henry. It’s good to make the payment. Don’t worry about it. You know, it doesn’t work that way. So I’m blown away by this.

Read the story below. Final, final story is I love corporate lies and I love when people send me things. TD Bank, who’s been in the news for the last six months with their shenanigans, hey listen, we’re gonna shut down 38 branches to better serve the community. Huh? How’s that work? I like my local branch. I like going in this one over this one because there’s no line. But you’re gonna shut down 38 branches to better serve us. Maine, New Hampshire, and the person that sent me this was from New Hampshire. But guys, how does that work? How does, how does you giving us less options serve us better? Again, how about we’re not making money? How about we can’t afford to pay these people in these branches and we just thought it would be a cost-cutting move.

But no, no, it’s to help you. It’s to help grandma. I guarantee there is an old woman or somebody that makes very little money that relies on these banks. It takes the bus to get there and now the 38 branches are going to be gone. Mark my words, that’s how that works. Please do not forget to hit the like button. Please don’t forget to subscribe to my channel. And we have a private channel called iAllegedly Live. You can use the link below and check that out. We talk about all the things there that we can’t talk about here.

If you want to email me, email us below. Hello at iAllegedly.com. We’ll see you very soon. [tr:trw].

See more of I Allegedly on their Public Channel and the MPN I Allegedly channel.

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There is no Law Requiring most Americans to Pay Federal Income Tax

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