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. Advocates of trade tariffs say they tend to encourage…
Tag: abolish the IRS
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. Directly…
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…
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