Monday April 15th is tax day. I don’t know anyone who likes paying taxes, however there is a camp that believes taxes are a necessary part of modern society and that by paying them you are doing “your part” for the community. After-all, how else would we pay for public services like fire fighters, teachers, and the police … right?
Income tax doesn’t serve the purpose you think it does, and there are other ways that our government and all of us as a collective society can fund public services without a tax on our labor. In this article I share some history that hopefully encourages you to explore the topic deeper on your own.
THE POWER TO CHANGE
The 2020 US Presidential candidates will begin campaigning soon and tax reform will be a hot topic. As members of Congress, most candidates already have the power to solve the problem by ending the Federal Reserve and taking back control of the US monetary system.
Unfortunately this isn’t something you should expect to hear much on the campaign trail. Even if a candidate supported the idea, they risk ending end up like Abraham Lincoln or John F. Kennedy. More on that later, but before you can make a decision about who you think has the best tax policy you need to better understand our current monetary system and the role of income tax.
A sovereign government has the power, and should exercise its ability, to issue its own legal tender. “Legal tender” in short means a legal or government approved form of money that must be accepted if offered.
During the Civil War Abraham Lincoln was struggling to fund the ongoing war costs, so he reached out to the New York Bankers for a loan, to which they obliged with 24% to 36% interest.
Appalled by this act of usury Lincoln and Treasury Secretary Salmon Chase rallied Congress to pass a bill authorizing the printing of full legal tender, later referred to as “Greenbacks” due to the color of the ink printed on the back.
The true threat to the banks wasn’t the war, or the end of slavery, it was the Greenback. If after the war President Lincoln were to authorize the US Treasury to continue printing its own legal tender it would have undermined the bank’s control over the money supply, which is why it is believed they were behind his assassination.
Shortly after his death Congress revoked the Greenback Law, recalling the Greenback notes, and enacted the National Banking Act, which was the precursor to the Federal Reserve Act of 1913.
THE BIRTH OF INCOME TAX
On February 3, 1913 congress ratified the 16th amendment creating the right to impose a Federal Income Tax. Later that year the Federal Reserve Act was created, giving control over the US monetary system to the Federal Reserve Bank.
It is important to note that “The Fed” is a privately owned bank and is no more “federal” than Federal Express (FedEx).
The US Central Bank issues paper money backed by nothing in exchange for US government bonds. The interest on that debt (bonds) is then paid back to the Federal Reserve through the collection of income tax.
“Permit me to issue and control the money of a nation, and I care not who makes its laws!”
~ Mayer Amschel Rothschild, founder of the Rothschild Banking Dynasty
JOHN F. KENNEDY
The first and only President who attempted to undermine the Central Banks after Abraham Lincoln was John F. Kennedy. On June 4th, 1963 President Kennedy signed executive order 11110 granting him the legal permission to create money in the same way that Lincoln issued the Greenback.
Records show that Kennedy issued over $4 Billion of this new legal tender, in what was clearly an attempt to undermine the Federal Reserve System.
However, it was only a few months later in November 1963 that John F. Kennedy was assassinated, and just one day after his death all the notes issued by Kennedy were called out of circulation by an executive order from the newly sworn in president Lyndon B. Johnson.
THE ROAD TO SERFDOM OR THE ROAD TO FREEDOM
You pay income taxes not to fund public services, but in order to pay the interest payments on government debt controlled by a privately owned central bank.
This monetary enslavement has existed for over a century. We are debt serfs who accept a tax on our labor with hardly a grumble, we are the perfect kind of slave.
The richest 1% in this country think otherwise.
They understand the truth and have learned to navigate the tax code in order to legally protect their wealth from confiscation.
The same options are available to you, but you must first stop thinking like a tax slave and start playing the game differently.
If you want some tips on where to start, subscribe to my list you can get access to my deeper dives on topics like this which I do not share on the blog.
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You can also learn more about government bonds, the Federal Reserve, and the rarely discussed connection they have with the real estate market and mortgage rates by exploring the “Rate Crash” video series (ratecrash.com) I prepared in advance of the last recession.
In the meantime, please follow me on social media (@jonkutsmeda) and share your thoughts with me about this article or other related topics in the comments.