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Old 08-06-2007, 08:47 PM
DcifrThs DcifrThs is offline
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Join Date: Aug 2003
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Default Re: Is the national debt a good thing or a bad thing?

[ QUOTE ]
If the Rockefellers and Morgan's and the rest of the scumbags didn't control the money supply and the federal reserve and lend the $ to the gov't at interest the income tax most pay would be a fraction of what it is. Income tax was created when the bankers got control of the money supply.

[/ QUOTE ]

where do you people come from?

seriously... i may use logic to answer posts but then come to an incorrect conclusion, but at least i'm applying some thought.

taxes came from the US govt's inability to finance required spending (first income taxes were for the civil war, repealed a few years afterwards).

income taxes were always WAY higher on those earning more money. for instance for almost 20 years (1945-1964) the marginal tax rate on income over $200k was over 90% (reaching 94% in 1945).

taxes then came down over time and spread out. today, taxes only apply to about 2/3rds of the population and the lowest earners pay no taxes (that 1/3) and in fact receive a subsidy.

anyways, heres a few questions:

1) how do rockefellers & morgan's (and the res tof scumbags...btw, who are they?) control the money supply and the fed?

2) when does the fed lend money to the govt?

3) even if all this is true, how doesthat increase the tax most people pay by multiples? (even if the multiples are small)

and as to your last point, as mentioend above, income tax was not created when bankers got control of the money supply. it was created as needed by the govt to finance needs (mostly wars. this theory is very solid and you can see marginal tax rates increase during times of war and decrease during times of peace or times of detante during the cold war when defense spending was high).

also, tax rates i would bet have little correlation to the level or changes in money supply when you decomose growth out of that.

Barron
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