
“The IRS accepts this tainted money in the payment of taxes, turning it into ‘clean’ money; and it is not an unwitting accomplice to the crime. Estimates are that marijuana business owners across the U.S. will owe $2.8 billion in taxes to the federal government in 2018. The government makes a massive profit off the deal, snatching up to 70 percent of the proceeds of the reporting businesses, as opposed to the more typical rate of 30 percent. It does this by branding marijuana businesses criminal enterprises, which are not entitled to deduct their costs when reporting their income.”
Read more: https://www.truthdig.com/articles/biggest-launderer-marijuana-money-u-s-government/
Related posts:
Jeffrey Tucker: Wall Street Discovers the Blockchain
Can You Name the One Nation in the World with a Higher Corporate Tax Rate than the United States?
Chinese can now buy real estate with Bitcoin
Feds Threaten To Arrest Lavabit Founder For Shutting Down His Service
Bruce Schneier: Economist Detained for Doing Math on an Airplane
Bitcoin: Digital gold or 'Harlem Shake of currency'?
France and Germany eat their words on US trade talks
Microsoft DMCA Notice ‘Mistakenly’ Targets BBC, Techcrunch, Wikipedia and U.S. Govt
Loews, Homeland Security Promote 'Trusted Traveler'
Tuur Demeester: Why You Should Invest in Bicoin
"Officer of the Month" Admits to Planting Drug Evidence
India bans gold jewellery from Thailand
Offshore Jurisdiction Review: Malta
Van Jones rips Obama’s ‘ridiculous’ denial of domestic spying operations
Florida Study Documents Shortened Yellows At Camera Intersections