Fiat Currency

In 1913, the U.S. government gave its right to create currency to the Federal Reserve Bank. Prior to that the Federal government had created money itself. These were called Greenbacks. The value of a Greenback fell dramatically during and after the Civil War because too many had been printed to fund the Union war effort….

Land & Finite Resources Tax

Unlike the value that people create themselves through labor and investment, land and other natural resources (e.g., minerals, old growth forests, airspace, water, fossil fuels) are in some sense owned by all current and future residents of a community. Some argue that these finite natural resources should be taxed, while leaving the capital improvements (buildings,…

Trade Tariffs

When the USA was first formed, income from trade tariffs provided 95% of the funds needed to run government. By the 1915, only 30% of the Federal budget was provided through trade tariffs, and currently only¬† about 1% of the Federal budget is provided by tariffs. The Federal income tax now provides most of the…

Robbing Peter to pay Paul

Some are against Direct Democracy because they fear that poor people, who outnumber the rich, will vote for more government welfare services for themselves and higher taxes for the rich. Taxes Funding for government activities does not have to be provided by an income tax and was not provided by income tax before 1913. Using…

The Separation of Business and State and the Privatization of Public Education

Because US public schools do poorly compared to those in other developed countries, those who support a “free market” approach argue the quality of education would be improved if public education were subjected to the effects of competition:¬† schools that are inferior will go bankrupt; schools that are good get more customers. (This leaves aside…