Paying Taxes and Interest - Hamza Yusuf

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[@HSAK786]

Shaykh Hamza Yusuf is a gem! May Allah preserve him and his family.

[@azharsaifi1675]

HSAK786 ameen

[@mohammadsiddiqullah4194]

Shaikh Hamzah Yusuf Hensen is one of those few great western islamic scholars who are inviting people to Allah and Allah knows best, may Allah be with him, ameen!

[@halamin55]

sheik hamza yuseph spoke the truth! very few scholars today speak on the subject of riba,plz see the prohibition of riba in Islam by Imran hosein. That lecture covers riba in its entirety.

[@aminuaidara8601]

And I don't understand why most of the scholars ar not talking about this subject

[@uniqueever5911]

Please mention a link of sheikh imran hussain

[@klaaskay2685]

unique ever You have Sheikh's name, simply search on KZbin with Riba, lots of his letures will come up.

[@roberthannah7983]

Hosien just rants on about how nasty those mean bankers are.

[@Sal_A]

Mashallah shaykh....If the common American people learned the truth about the Federal Reserve system there would be bloodshed tomorrow.

[@supernatural_forces]

Sal A If people understand about the monetary system there will be a revolution tomorrow or they will lynch us or something like that was said by Henry Ford i guess.

[@roberthannah7983]

What a silly comment. Most of us who stay awake in economics 101 learn about it and there is no bloodshed in the classrooms! Currency is becoming obsolete anyway, payment is being made by mobiles and EFT.

[@Sal_A]

@@roberthannah7983 I worked at a prestigious accounting firm and my manager did MBA at Columbia University (top-notch) and he thought the Federal Reserve was a government entity! I guess so is the Federal Express (FedEx) mailing courier 🤦‍♂️

[@Sal_A]

@@roberthannah7983 I guess you fail to realize the implications of the current monetary system. I suggest you learn about fractional reserve banking system, how wars are a profiteering business for some countries, how loan sharks like the World Bank and IMF work, how interest is amortized and the illusion of "profit" to probably most Americans biggest asset: a home/mortgage, etc

[@roberthannah7983]

@@Sal_A From the Fed's website: The Federal Reserve Act of 1913 established the Federal Reserve System as the central bank of the United States to provide the nation with a safer, more flexible, and more stable monetary and financial system. The law sets out the purposes, structure, and functions of the System as well as outlines aspects of its operations and accountability. Congress has the power to amend the Federal Reserve Act, which it has done several times over the years. The complete act, as amended, is provided here by section. Although parts of the Federal Reserve System share some characteristics with private-sector entities, the Federal Reserve was established to serve the public interest. There are three key entities in the Federal Reserve System: the Board of Governors, the Federal Reserve Banks (Reserve Banks), and the Federal Open Market Committee (FOMC). The Board of Governors, an agency of the federal government that reports to and is directly accountable to Congress, provides general guidance for the System and oversees the 12 Reserve Banks. From the New York Fed's website: As stipulated in the Banking Act of 1935, one of the seven governors is appointed by the U.S. president to a four-year term as chairman. This selection must be confirmed by the Senate. The chairman serves as public spokesperson and representative for the Board, manager of the Board's staff, and chairman at Board meetings. ____________________________________________ So I guess you boss was right after all - the Fed is a government entity. And no, I do not confuse the Fed with Fedex.

[@quantumo2099]

I'm grateful for being Muslim

[@NatureVibesExplorer120]

Luv u shykh hamza Yusuf from Indian occupied kashmir.........

[@Kamadev888]

Muslim sheikhs give so many nice speeches, but no resolutions. Earn less than 10k / year and live frugally to avoid taxes? What kind of advice is that? And where are people supposed to live if they can't buy a house, under a bridge?

[@emadmasroor7496]

Its not necessary to buy,you can rent a place.

[@hamadshah5716]

Who said it was advice?

[@mdiftekher1425]

You are right bro. If we make less than 10k , how will we survive . Even if we do business by ourselves how can we avoid taxes. He did not go to deep.

[@nny11218]

He was joking.... lol

[@mdiftekher1425]

Joke? Come on. Instead of giving solution?

[@khairulnasir9270]

paper have no value.u can burn it.gold and silver on the other hand can make alot of appliance which is valuable,so islam is correct to begin with to used it as currency.

[@ThePlatineist]

It's interesting. This cryptocurrency trend we see is just furthering the idea of going away from the idea of money backed by real valuables with finite availability, to something entirely virtual, entirely valueless creating value artificially further than just interest, and calling that progress. When we have no land to grow crops on, when the rain stops to be hydrating, purifying and nurturing life, when there seizes to be good food and a good environment to live in, what will some stupid unsolvable code do for us? Or gold? Or silver? Or oil? Will it feed us? Will it make the environment better? Will it stop the sea from becoming acidic? We are already overproducing, overconsuming and destroying the planet. Why are we creating new ways of creating value distorting the reality of the fact that the resources around us are finite and we ourselves are finite and won't stay here forever. Why are we devolving into idiots, riding dumb hype trains, and calling this progress?

[@roberthannah7983]

Yusuf says around 7.30 that gold has intrinsic value - this is not true. It has rather limited industrial value - just electroplating semiconductors I think, and jewellery. Most of its value is because people have an irrational obsession to buy and hoard it.

[@NazTheGreat]

You don't know what you're talking about, gold does have intrinsic value. It maintains its purchasing power, unlike fiat currency.

[@roberthannah7983]

@@NazTheGreat Central Banks in developed economies have done a good job of killing inflation since the era of Paul Volker - 1980's. The volatility of the gold price is a lot higher than the volatility of the CPI (ie fiat money), and the latter volatility is what consumers care about. I would rather depend on policy makers who we have some control over than on gold bug investors, gold speculators, hoarders, and criminals who ship gold bars around.

[@NazTheGreat]

@@roberthannah7983 it's not gold that's volatile, it's currency :it doesn't have intrinsic value. So it's currency that's moving up and down, you choose to look at it the wrong way. Over time, if you look at any chart, even the ones provided by central banks, you will see that currencies lose purchasing power over time. This is legalised theft. Why should the average Joe have is wealth eroded by 'policy makers', because they print currency and rob the masses of their wealth through inflation, is that a free market? You have the nerve to imply people who choose to be sensible and protect their hard earned wealth, by using gold are criminals? Gold doesn't lose its purchasing power like fiat currency, which was designed to rob the masses. The real criminals are the Banksters. You sound like one of 'them' 🤔

[@roberthannah7983]

@@NazTheGreat Its the consumer price index that I am looking at - the price of goods relative to currency. The price of gold is also its price relative to currency, so the comparison is correct. In the final analysis we want the same thing - preserving the value of money, whatever it is. We already got and need a banking system, but it has a lot of problems, so lets fix it. I dont want to walk around with a pocketful of gold coins or fuss with gold certificates issued by some "bankster".

[@the_beef_is_on3682]

what about being an accountant working out taxes people have to pay?

[@veryprivateverypersonal3363]

I am confused and lost one the vital and importance of money. Today people make money such a number one priority. I wish Allah had prohibit money.

[@Ashraf-and-Fmily-North-Gaza]

Hello brother. Can you please let me know about Zakkah in a non-muslim country? Can I count my personal tax towards that? Thank you.

[@fire.smok3]

Good video

[@iftakharmustafa3008]

It is backed by gold

[@imanboostyt]

not any more. The gold back system became fiat system since around mid 20th century

[@SmartMoneyRyan]

Nope, it is not. Backed by nothing, worth nothing.

[@aminuaidara8601]

I don't understand why Islamic scoreless ar not doing nothing about this paper currency which we know it's not supported by gold or silver

[@abdulhai93]

Because theyre too busy debating if you should raise pants above ankles

[@muabdullah7538]

Shiekh hamza when are you coming pakistan?

[@karatiaeditlogicprotangail]

I have not seen anyone is trying to get out of the fake system.

[@netizen..]

What about gst/sales tax in india..18%?

[@muhammaduddin9268]

Taxes are good for a country, keeps goods and services cheap and helps funds other things in a country.

[@NazTheGreat]

Learn about the central banking system, fiat currency, Rothchild family and read Jekyll Island

[@roberthannah7983]

I would not say good, but necessary.

[@unhomesenzill4366]

They're neither good or necessary.

[@roberthannah7983]

@@unhomesenzill4366 They are necessary to fund public services. The real issue is how much do we need in public services.

[@haroonbaig5674]

Wats wrong wd taxes.

[@truehuman9449]

What are the ways to dispose accumulated bank interest?

[@mutiur7396]

If you live In a Muslim majority country then it is plainly a sin to take loans on interests. If in non Muslim country if you had no chance or no other reasonable alternative then you pay the interest as well... Because rules of halal and Haram are for Muslims only..

[@mutiur7396]

Regarding interest profit accumulated in you account. I have seen in book (by Moulana Taqqi Usmani) that one ask forgiveness from Allah and give this money to needy people without thinking that this is Sawab/good deed neither consider it a charity/ kheraat... The idea is to just get rid of interest profit...

[@itsoutahere]

Ameen

[@lmwjr]

So in America.. is our money from our paychecks Halal??

[@sologamer8287]

Is there riba(Interest) in that if there is then no

[@mir3877]

Ima gonna pay the haram tax with haram interest from bank. As they say in math; Two negatives make one positive. Wt say you?

[@uncleiroh3451]

Two wrongs don't make a right. It is not good that should adapt to evil but vice versa.

[@mjabdus86]

hamzah lease avoid using arabic terms, laymen like me do not understand

[@user-yx2uw6lh7d]

wakeupnow true, although when you've only spoken arabic for 7+ years, he's doing quite well :) he is human after all

[@user-yx2uw6lh7d]

wakeupnow although I hope you learn arabic tho, it's a gem

[@Vidbzz]

This is probably for people who have a good idea of their deen and/or know the rulings that the 'responsible' Muslim must know and developing their knowledge. That being said, some of these terms are found in basic jurisprudence texts, like dharuuri ضرورة is a term found in the Akhdari text, which means 'necessity'. These things take time.

[@roberthannah7983]

A progressive income tax is a pretty good way to finance public services. Yusuf does not have any practical alternative. There was no income tax at the time of the prophet and through most of history because most people did not have measurable income. Zakat on wealth was more practical.

[@ihtesham8624]

Do you say people didn't have fixed wages at the time of the prophet? There are alternatives for income tax in Islam which can be used by states to finance public services, and that has happened over the course of Islamic history.

[@roberthannah7983]

@@ihtesham8624 Well, lets consider the economy at the time of the prophet. Most people were subsistence farmers or agricultural labourers, probably share croppers sharing the harvest. Some might be craftsmen marking articles for sale. I dont see much wage earning going on. The wealthy people who might be paying zakat were landowners and traders - not wage earners - in any case no one was reporting income to various warlords and authorities and being issued tax slips each year! Wealth in the form of land and property was visible and more taxable via zakat. The present tax is certainly not perfect- there is lots of tax avoidance going on, and wealth taxes like zakat have been tried from time to time. Studies in the emirates showed I think there was lots of zakat avoidance as well. There is no prohibition I am aware of in Islam on income tax, which it seems is an efficient way to finance public expenditure in the modern economy - and which doesnt exclude zakat.

[@iftakharmustafa3008]

But you want to use the facilities and not help the poor. I'm afraid you don't understand taxes and profit and loss

[@kusari86]

Don't be foolish. What does taxation have to do with helping poor? Private foundations do better work at helping poor, most taxes are squandered by governments

[@anthonyalvarez6658]

As Muslims in the US are we obligated to pay income taxes?

[@Socko960]

did you watch the video?

[@amiriothegreat]

Obviously... You would get arrested if you didn't! Lol. Anyways, Muslims have to follow the law of the land that they're in. I'm pretty sure Income Tax would be fine if it was a flat tax (everybody pays the same amount, except for the poor who would pay nothing).

[@stephenconnolly1830]

I know I am coming late to this video, but Hamza Yusuf really does not know enough about economics and finance, nor has he defined Riba correctly, to be able to act as an authority on these subjects. If anyone is reading this comment I recommend you go and read the Wikipedia page on Riba with all the arguments laid out there for you to see and compare. The best and most convincing definition of Riba is that it is a type of economic exploitation. Mohammed Omar Farooq has published two seminal peer reviewed papers on the subject which are referenced on the Wiki Riba page.

[@pagalhokya]

Stephen Connolly you're talking about him not knowing anything and then you direct people to Wikipedia? Nice one.

[@stephenconnolly1830]

pagalhokya - no, I am pointing out that Hamza Yusuf is not a recognised economist neither does he demonstrate a good enough knowledge of the subject as a non-expert. The Wiki page gives all the arguments and counter arguments (in fact, the Wiki Riba page in question is the best review of the subject at present) and, if you are inclined to exercise critical thinking, it is hardly a difficult task to discern what is the true reality. Furthermore, you seem to have deliberately ignored my referencing Dr Farooq's peer reviewed articles on the subject of Riba - well done for that due to your prejudice toward Wikipedia!

[@stephenconnolly1830]

pagalhokya - from your poorly considered comment about Wikipedia you clearly haven't bothered to read the Wiki Riba page. I encourage you to rectify this situation by doing some requisite reading instead of amply demonstrating your ignorance of the subject.

[@supernatural_forces]

Stephen Connolly kzbin.info/www/bejne/pJ-QdnWfgs2WsNk Elapse this upto 18-20 minutes and have a look at this although it can not explain this vast & complicated subject but you might get a bit idea.

[@stephenconnolly1830]

O Allah create a Light in my Heart - thanks for your thoughts here, however, the problem of interpreting and correctly applying the Islamic evidences becomes more acute when dealing with complicated subjects like banking, finance and economics - particularly in the modern era. This is why traditional scholars of Fiqh are not up to the task on their own and require the services of someone trained in these disciplines to advise them. One cannot simply say as a Muslim that paper money is forbidden or the Western banking etc system is corrupt or based on usurious principles without providing evidence that this is the case. Many Muslim scholars in the previous two centuries right to the present day make these kinds of pronouncements without bothering to conduct any appropriate studies or deducing any evidence for their assertions. As a revert and educated person I grow tired of the poor scholarship and abundant slogans bandied about in this area by my fellow believers and the Muslim scholars they follow. I reiterate for your benefit, read the Wiki Riba page in detail to see the full account of Riba - all the traditional arguments together with the counter arguments showing these are all basically wrong. Most forms of interest in a regulated financial system like here in the West are not usurious and thus are not Riba. Muslims need to wake up to this fact and if they don't it will only be to their own detriment. Fi Amanillah.

[@ioriyagamy4777]

I find it so funny when muslim scolars say we shouldn't earn much and live humbly. If I work 40 jours a week like an animal for 45 years at least I want to know why I am doing so. Why shouldn't my children have good clothes or toys? Why shouldn't I be driving a pretty car? Why can't I buy a house for my family in which we are going to live in and which my children will receibe after I pass away? The whole Ribba thing is very fishy to me. I asked a lot of people, talked to students of Islam which followed the opinion of the biggest scolars that says no matter what, a mortgage for a house is haram. Wouldn't it be worse if I have 5 children which don't get to have privacy by having no room for themselves? I Wluldn't it be worse for us to constantly have to worry if we can pay the rent at a high age? Wouldn't it be worse for me and my wife not to have privacy as we wish? I keep reading and hearing it but I do not agree with this. There is nothing like a halal mortgage where I live(Belgium). Even the muslim banks here work with Ribba so what should I do. I am a young man and just finished my education. Now I will find a good job in shaa Allah and start my own family. How will I even get the hand of a girl from her father if I tell him I will not be able to buy his daughter a house? And do not start talking about the "look for a humble girl out of a good family". Girks are not like this here. Besides I want a house. And if I have to get a mortgage for that I cannot understand why it should be haram.

[@babaadam7526]

You either believe or don't believe

[@turboturbo780]

You must pay taxes otherwise jail prison breakl law

[@fire.smok3]

Good video