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122

(post is archived)

[–] 6 pts

The Federal government used to make its money on import tariffs.

[–] 4 pts

Tariffs? Oh, you mean those things that people on Reddit are still kvetching about, and blaming the Orange Man for, even though the Dementia Patient currently in office could end them just as easily as he ended Orange Man's insulin price cuts?

[–] 1 pt

(((Libertarians))) hate them but they ensure our worker and environmental standards aren't used to make us anticompetitive in our home market while making foreign goods compete with quality instead of cost due to cheap labour and disregard for the environment. When more money stays at home, we can afford goods made right.

[–] [deleted] 2 pts

They used taxes to build those things. Property tax.

[–] 3 pts

There is no federal property tax, though Joe and the Ho might have plans to "correct" that.

[–] 1 pt

And if they stuck to only that I'd be content.

[–] 2 pts

Capitalism works as long as you keep the jews out of it!

[–] 1 pt

I'm told that, before jews, the stock market was a respectable way for companies to raise cash quickly, a place where the only evil on the stock market was when your competitor bought up all of your shares to effect a hostile takeover.

Do you actually believe that?

[–] 1 pt

A magical wheat field world that isn't run by kikery? Sure would be nice.

[–] -1 pt

That's the same as the (((commies))) saying that "REAL COMMUNISM HAS NEVER BEEN TRIED REEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEE"

[–] 2 pts

On October 3, 1917, six months after the United States declared war on Germany and began its participation in the First World War, the U.S. Congress passes the War Revenue Act, increasing income taxes to unprecedented levels in order to raise more money for the war effort.

The 16th Amendment, which gave Congress the power to levy an income tax, became part of the Constitution in 1913; in October of that year, a new income tax law introduced a graduated tax system, with rates starting at 1 percent and rising to 7 percent for taxpayers with income above $500,000. Though less than 1 percent of the population paid income tax at the time, the amendment marked an important shift, as before most citizens had carried on their economic affairs without government knowledge. In an attempt to assuage fears of excessive government intervention into private financial affairs, Congress added a clause in 1916 requiring that all information from tax returns be kept confidential.

By then, however, preparation for and entry into World War I had greatly increased the government’s need for revenue. Congress responded to this need by passing an initial Revenue Act in 1916, raising the lowest tax rate from 1 percent to 2 percent; those with incomes above $1.5 million were taxed at 15 percent. The act also imposed new taxes on estates and excess business profits.

By 1917, largely due to the new income tax rate, the annual federal budget was almost equal to the total budget for all the years between 1791 and 1916. Still more was required, however, and in October 1917 Congress passed the War Revenue Act, lowering the number of exemptions and greatly increasing tax rates. Under the 1917 act, a taxpayer with an income of only $40,000 was subject to a 16 percent tax rate, while one who earned $1.5 million faced a rate of 67 percent. While only five percent of the U.S. population was required to pay taxes, U.S. tax revenue increased from $809 million in 1917 to a whopping $3.6 billion the following year. By the time World War I ended in 1918, income tax revenue had funded a full one-third of the cost of the war effort.

[–] 1 pt

The 16th Amendment, which gave Congress the power to levy an income tax, became part of the Constitution in 1913; in October of that year, a new income tax law introduced a graduated tax system, with rates starting at 1 percent and rising to 7 percent for taxpayers with income above $500,000.

What else happened in 1913? The creation of the Federal Reserve Bank.

Your income tax is primarily used to pay the interest on the money that the "Federal" Reserve Bank conjures into existence out of thin air.

[–] 1 pt

$500k in 1913 money. That's $13 million today.

Imagine if we only taxed people that make over $10 million today.

[–] [deleted] 2 pts

to pay off the oven dodging ferengi aka jews .

[–] 0 pt

At least Deep Space Nine taught us that the Ferengi went Full Jew and jewed themselves into oblivion, with Quark being the only sane one left of his race.

[+] [deleted] 1 pt
[–] 1 pt

Wait. So how did the gov’t get money before? Like for uniforms and weapons for the military? Or other stuff?

[–] 0 pt

They used a combination of taxes, borrowing, war bonds and printing money (enotes.com). Remember that the government was much smaller in those days and there were no "social welfare", medical or social security programs. Thomas Jefferson was opposed to any government debt and was discouraged by the size of federal debt by time he died in 1826.

They doubled highway tolls. Its never enough for the lazy kikes.

[–] 0 pt

Actually Lincoln imposed the first federal income tax in 1861 to finance the civil war. (history.com) It was repealed in 1871.

>On August 5, 1861, President Lincoln imposes the first federal income tax by signing the Revenue Act. Strapped for cash with which to pursue the Civil War, Lincoln and Congress agreed to impose a 3 percent tax on annual incomes over $800.

The parasite class demands an ever growing portion of your labor slave.

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