The IRS was specifically created to remove inflationary wealth pumped into the economy by the Federal Reserve private bank, the reason they were both created at the same time. Every new dollar pumped into the economy devalues all those already existing in it. Taking these excess dollars out of circulation by heavily taxing the middle and lower classes, while the rich pay few if any taxes, means that the value of their wealth continues to accumulate without suffering from devaluation caused by excess currency and the resulting inflation. Up until 1913 the US Treasury was completely funded WITHOUT so-called income taxes. Another fact most people dont know is that income originally meant money that was made from INVESTING money—not wages exchanged for labor. In other words, it was originally those with enough money to gamble on Wall Street who were taxed on their winnings (income). Today the situation has become completely reversed. Those who pay attention to history may have also noticed that the US began its military meddling in foreign affairs soon after creation of the Federal reserve. The Fed prints up money out of nothing to lend to the US government at high interest rates to fund its military empire building. In exchange for instant cash, the US gives the Fed treasury bonds that are like IOUs for debt the government incurs to finance its military adventurism. Many would be shocked to discover that the US is STILL paying off the debt from WWII—and every war since. Thanks Nunzio Fireheart
Posted on: Wed, 24 Sep 2014 06:24:07 +0000
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