Income Tax on Wages

In 1913,  the 16th Amendment was passed, giving the government the right to collect income tax in order to begin paying service fees to the Federal Reserve, which had just taken control of creating U.S. currency from the U.S. Treasury.  According to some, the 16th Amendment was directed only at capital gains income and was…

Interest Income Tax

In 1913, the 16th Amendment to the Constitution was passed giving power to the government to tax capital gains and interest income.  According to some, the law was never intended to tax labor (wages or salaries), which at the time were considered an equal exchange of goods/services akin to bartering and were not considered “profit”…