Friday, January 19, 2024

 pcr shows you a few things wrong with the irs system;


Americans Enslaved Themselves to the State When They Accepted the Income Tax

Paul Craig Roberts

It was not until 1913, 137 years after the Declaration of Independence established a free people who are no longer free, that there was an income tax.  Years ago I researched and wrote the story of how it happened.  It exists somewhere in print.  In the old analogue, library card file days, it would have been easy to find. The income tax required a Constitutional Amendment.  I remember some of the story.  What I remember is this: 

The threshold for being subject to income tax was high, and the first rate was 1%.  The Georgia legislature voted to ratify the amendment because as one legislative leader concluded, “there’s no one in Georgia with an income high enough to be subject to the tax. Let the Yankees tax themselves.  Why should we object.”

There was no vision of the future. 1913 was also the year that the Federal Reserve, with its policy of depression, inflation, recession, and inflation, was  established and unleashed on America, and it was also the year that World War I and its inflation was about to be launched by the French, Russian, and British Governments.  War and inflation quickly brought income tax home to insouciant Americans who thought they were exempt.

In 1963 prior to the Kennedy tax rate reductions the top tax rate was 91% on incomes above $200,000. Kennedy left it at 70%.  Reagan left it at 50%.  Today it is 39.6%, or with rounding 40%

The highest medieval tax rate on serfs was 30%.  Anything higher and they revolted and killed the feudal lords.  50% was the highest tax rate on cotton plantation slaves.  The other 50% of their work went for their food, clothing, shelter, and medical care..........more.......

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