Why do we pay (Federal) taxes?

#27
#27
Rasputin_Vol said:
How is interest able to be paid? If the Fed only created $100, but charged 1% interest on that $100 it created, where would the 101st dollar come from that would cover the interest? Only $100 exist in this hypothetical situation. How would the interest be paid?
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Thus is born the slavery known as debt.
 
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#31
#31
mr.checkerboards said:
What it is supposed to be used for. Infrastructure, military, school funding and federal programs to assist the American people.
What it is used for basically is to line the pockets of Washington politicians
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Lets assume that what you say is true. That still doesn't really make sense. They don't necessarily need my tax dollars to pay off politicians. We're basically just talking about electronic 1s and 0s. Actual "cash" doesn't even need to change hands.
 
#32
#32
Ten_Titans said:
Most roads are not funded from federal tax money, and I can't think of any good reasons why interstates can't be soley funded by states either.
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I think just about every road gets matching dollars from the fed except maybe neighborhood roads. Everything else is either a federal or state highway. Where do you think the federal taxes go that get added to every gallon of fuel?
 
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#35
#35
Rasputin_Vol said:
Lets assume that what you say is true. That still doesn't really make sense. They don't necessarily need my tax dollars to pay off politicians. We're basically just talking about electronic 1s and 0s. Actual "cash" doesn't even need to change hands.
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Right they don't, but when they give themselves raises where does that money come from.
One question because you have me curious now? Are you in favor of a non monetary society?
 
#37
#37
mr.checkerboards said:
Right they don't, but when they give themselves raises where does that money come from.
One question because you have me curious now? Are you in favor of a non monetary society?
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Absolutley not. But I'm afraid that is what they are going to offer us.

Fed partnering with MIT to develop "hypothetical digital currency"

If they have the power to create money, they also have the power to destroy it. Or more specifically, if they can turn your digital currency "ON", they can also turn it "OFF"...
 
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#38
#38
Rasputin_Vol said:
Absolutley not. But I'm afraid that is what they are going to offer us.

Fed partnering with MIT to develop "hypothetical digital currency"

If they have the power to create money, they also have the power to destroy it. Or more specifically, if they can turn your digital currency "ON", they can also turn it "OFF"...
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Completely agree the less control the Feds have over our financials the better.
So whats your ideas on Federal taxes where exactly were you headed?
 
#39
#39
They just created like $4T out of thin air for stimulus. That’s as big as the annual budget that’s already running $1T deficits annually. The truth is we don’t have to pay any taxes, it’s just a ledger entry for the bank to create money. Of course the whole system relies on the whole “full faith and credit” thing ... I suspect it would be difficult for the average person to have faith in a system where 100% of the government budget was created out of thin air. In that sense, taxes make it easier for TPTB to keep the scheme going.
 
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#42
#42
midnight orange said:
Easy. Just make a list of things gov does and that’s a list of things gov shouldn’t do.
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Okay..... roads, police, sewer, water, electric service, schools. Lets get rid of all of those services and see how you like where you live.
Oh and I just listed local services, I can continue on if you want me to state and federal services.
 
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#44
#44
VolStrom said:
Okay..... roads, police, sewer, water, electric service, schools. Lets get rid of all of those services and see how you like where you live.
Oh and I just listed local services, I can continue on if you want me to state and federal services.
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Those things would never exist without government. The government built the federal highway system which allowed Henry Ford to mass produce the automobile. The government built airports which allowed the Wright Bro’s to be the first in powered flight.
 
#45
#45
midnight orange said:
Those things would never exist without government. The government built the federal highway system which allowed Henry Ford to mass produce the automobile. The government built airports which allowed the Wright Bro’s to be the first in powered flight.
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Barrack? "You didn't build that"
 
#46
#46
Revenue Act of 1913 - Wikipedia

Wilson and other members of the Democratic Party had long seen high tariffs as equivalent to unfair taxes on consumers, and tariff reduction was President Wilson's first priority upon taking office. Following the ratification of the Sixteenth Amendment in 1913, Democratic leaders agreed to seek passage of a major bill that would dramatically lower tariffs and implement an income tax.
 
#48
#48
37L1 said:
Revenue Act of 1913 - Wikipedia

Wilson and other members of the Democratic Party had long seen high tariffs as equivalent to unfair taxes on consumers, and tariff reduction was President Wilson's first priority upon taking office. Following the ratification of the Sixteenth Amendment in 1913, Democratic leaders agreed to seek passage of a major bill that would dramatically lower tariffs and implement an income tax.
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The Revenue Act of 1913 restored a federal income tax for the first time since 1872. The federal government had also adopted an income tax in the Wilson–Gorman Tariff Act, but that tax had been struck down by the Supreme Court in the case of Pollock v. Farmers' Loan & Trust Co. The Revenue Act of 1913 imposed a one percent tax on incomes above $3,000, with a top tax rate of six percent on those earning more than $500,000 per year. Approximately three percent of the population was subject to the income tax. The bill also included a one percent tax on the net income of all corporations, superseding a previous federal tax that had only applied to corporate net incomes above $5,000. The Supreme Court upheld the constitutionality of the income tax in the cases of Brushaber v. Union Pacific Railroad Co. and Stanton v. Baltic Mining Co.
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#49
#49
#50
#50
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