The Schiff Report - 6/28/2012 Two wrongs do not make a right. The fine for not buying health insurance is not a tax, its a penalty. And even if it is a tax, its unconstitutional anyway, as its a direct tax that must be apportioned. The Supreme Court is wrong twice. Note on the Income Tax. The Supreme Court in the Pollock case struck down the Income Tax taxes because it was an unapportioned direct tax, as it taxed wages and rents, which amounted to direct taxes on land and labor. After the 16th amendment was passed, the court in Burshaber ruled that the Income Tax, to be consistent with Pollock (a descison the court said it was in no way changing), must be imposed not as direct tax, but as an indirect, excise tax. According to the court, that meant separating income from its source. So for example, neither wages nor rents would be taxable, only the income derived from wages and rents, once both were first separated from their source, such as labor or land. The only way to do that is through a corporate balance sheet, so according to the Supreme Court, the only income that congress may tax indirectly, without apportionment is corporate income. Taxes on personal income, such as wages or rents are direct taxes, and must be apportioned, which is why the present personal income tax is voluntary. A mandatory personal income tax would violate the apportionment provision of the U.S Constitution, as confirmed by the Supreme Court in both Pollock and Burshaber. Of course, if you do not volunteer, you go to jail, which is why the current income tax is being enforced unconstitutionally. Listen to The Peter Schiff Show Weekdays LIVE and FREE on http://www.SchiffRadio.com Follow me on Twitter @SchiffRadio Friend me on http://www.Facebook.com/PeterSchiff Buy my new book at http://www.tinyurl.com/RealCrash ... https://www.youtube.com/watch?v=NNCyEC9r_mk

April 15th is around the corner, and still most gold-buyers are not aware that physical gold IRAs are simple to set up and offer the lowest total cost for physical gold and silver storage. Yes, you can put gold and silver coins and bars into secure storage and get all the tax benefits of an IRS-approved Individual Retirement Account. The process is very simple, and our specialists are there to walk you through it. Peter Schiff explains. ... https://www.youtube.com/watch?v=bDJcUBGH6xU