Abolition of the income tax
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Abolition of the income tax or income tax abolitionism is the movement to abolish income tax. Proponents for the abolition of income tax regard this as second wave abolitionism, after the first abolitionist movement to end slavery in the 18th and 19th centuries, arguing that governments subjugate the working class by forcibly coercing them and partially enslaving them like a serf and using this money to fund perpetual war, waste, and creating inequalities by not treating people fairly and equally.[1]
United States[edit]
The Fair Tax Act has been proposed in every congress since 1999 that would repeal the income tax, payroll tax, corporate tax, and estate tax and abolish the Internal Revenue Service and replace it with a 30% national sales tax.[2] $13.7 billion was spent in fiscal year 2021 on the IRS[3] and over $313 billion was spent on tax compliance.[4]
The first income tax was implemented by the Union during the American Civil War in 1862. The 16th Amendment made the income tax constitutional in the United States in 1913. Tax withholding from private sector wages started in 1943 during World War II.[5]
Modern monetary theory to replace the income tax[edit]
New money supply is created by the banks as loans and quantitative easing during short stints of stimulus from the central banks. Article 1 section 8 of the Constitution gives congress the authority to coin money and regulate the value thereof, but they have delegated this power to the Federal Reserve which delegated the creation of money to the banks, who loan it out on margin 10 to 1, but they don't have to pay any interest on the margin because they created the money. The government currently decides not to create money for the general public good but decides to steal it instead through primarily income taxes.[6][7][8]
See also[edit]
- Abolition of Income Tax and Usury Party
- Modern Monetary Theory
- Taxation in the Bahamas
- List of countries by tax rates
- Tax as theft
References[edit]
- ↑ https://mises.org/library/income-tax-really-evil
- ↑ https://www.semafor.com/article/01/18/2023/republicans-worry-a-national-sales-tax-bill-would-be-a-political-gift-for-democrats
- ↑ https://www.irs.gov/statistics/irs-budget-and-workforce
- ↑ https://taxfoundation.org/tax-compliance-costs-irs-regulations/
- ↑ https://fee.org/articles/wartime-origins-of-modern-income-tax-withholding/
- ↑ https://taxjustice.net/2019/03/05/the-magic-money-tree-from-modern-monetary-theory-to-modern-tax-theory/
- ↑ https://library.cqpress.com/cqresearcher/document.php?id=cqresrre1936101600
- ↑ https://mises.org/wire/standard-open-market-operations-how-fed-and-commercial-banks-create-money
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