America celebrates 100th anniversary of the income tax (Photos)
On Feb. 3, America celebrated the 100th anniversary of the income tax, and passage of the 16th Amendment.
While the vast majority of Americans had no idea this centennial
anniversary was occurring due to their attentions being focused on the
Super Bowl, the stark reality is that the lives of every citizen since
1913 has been altered by this Amendment, and the course of history has
been changed by it.
However, the passing and implementation of the income tax in February then led Congress to give up their Constitutional powers over money creation just 10 month later. In December of 1913, Congress signed the Federal Reserve Act almost immediately after the states approved and ratified the 16th Amendment. This combination of laws would allow the earnings of the American people to be used as collateral so that the Federal government could legally borrow money from a private new institution (Federal Reserve), and expand government revenues beyond the limits set forth originally in the Constitution.
The evidence of the two laws coinciding can be seen by the fact that most or nearly all taxes paid by Americans under the 16th Amendment, go to the Federal Reserve bank first, and not the U.S. Treasury.
On February 3rd, 1913, one of the two most historic events in US history took place: the ratification of the 16th amendment, which established Congress' right to impose a Federal income tax on Americans, and overturned Article I, Section 9 of the US Constitution which explicitly prohibited a general income tax. The amendment was brief and to the point, and read as follows: "The Congress shall have power to lay and collect taxes on incomes, from whatever source derived, without apportionment among the several States, and without regard to any census or enumeration." And with that, the US Federal Income Tax was born and has been with us for precisely 100 years. - ZerohedgeBefore Feb. 3 in 1913, the U.S. government, as well as all state governments, received most of their revenues from duties, tariffs, and licences imposed on businesses and goods coming from foreign imports. The national budget for the Federal government was $715 million, with a deficit that year of only $1 million. The Gross Domestic Product (GDP) was $39.1 billion, and had increased by $1.7 billion from the year before.
However, the passing and implementation of the income tax in February then led Congress to give up their Constitutional powers over money creation just 10 month later. In December of 1913, Congress signed the Federal Reserve Act almost immediately after the states approved and ratified the 16th Amendment. This combination of laws would allow the earnings of the American people to be used as collateral so that the Federal government could legally borrow money from a private new institution (Federal Reserve), and expand government revenues beyond the limits set forth originally in the Constitution.
The evidence of the two laws coinciding can be seen by the fact that most or nearly all taxes paid by Americans under the 16th Amendment, go to the Federal Reserve bank first, and not the U.S. Treasury.
Almost everyone thinks that the money they pay in taxes goes to the US Treasury to pay for the expenses of the government. Do you want to know where your tax dollars really go? If you look at the back of any check made payable to the IRS you will see that it has been endorsed as "Pay Any F.R.B. Branch or Gen. Depository for Credit U.S. Treasury. This is in Payment of U.S. Obligations." Yes, that's right, every dime you pay in income taxes is given to those private banking families, commonly known as the FED, tax free. - ExaminerAs the nation quietly celebrates the 100 year anniversary of the 16th Amendment, and institution of the federal income tax, the consequences of these actions still resonate with all Americans today. Even as the Federal budget has increased from $715 million in 1913, to almost $4 trillion dollar a century later, and the national debt has increased from $1 billion to over $16.4 trillion, the results are that much of the wealth of the American people has been transferred over to private companies and banks, due to the passage of this one simple law.
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