I’ve Been Holding Onto This Video & Now That Donald Trump Suggested Eliminating The Income Tax & Replacing It With Tariffs You Should Watch This
“I don't think people understand the depth in which the federal income tax has screwed the American people because the income tax didn't exist for the first 137 years America was a country. It was implemented in 1913 and shortly after that, the income tax would become the government's primary source of generating revenue.
The government would basically own your labor. So you’re taxed at 33%. 1/3 of your work for the entire year belongs to the government.
But before the federal income tax, tariffs were the government's primary source of generating revenue.
So the government would come along and say, if companies want to import goods from other countries, they have to pay a tax on those goods. And this was the government's primary way of generating revenue.
“I don't think people understand the depth in which the federal income tax has screwed the American people because the income tax didn't exist for the first 137 years America was a country. It was implemented in 1913 and shortly after that, the income tax would become the government's primary source of generating revenue.
The government would basically own your labor. So you’re taxed at 33%. 1/3 of your work for the entire year belongs to the government.
But before the federal income tax, tariffs were the government's primary source of generating revenue.
So the government would come along and say, if companies want to import goods from other countries, they have to pay a tax on those goods. And this was the government's primary way of generating revenue.
06:59 PM - Jun 14, 2024
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