Blones said:
Kytiara said:
Blones said:
nataraj said:
Blones said:
Escherichia said:
Ron Paul want's to abolish income tax. On one hand I understand why this is a popular idea, on the other hand I can't help but think that this would result in the worst economic nightmare this country has ever known. |
Abolishing the income tax, along with the Federal Reserve, would be one of the best things that could happen to this country. First of all, the federal income tax is completely unconstitutional. Second, it doesn't pay for a damn thing. 100% of what is collected goes toward interest payments on the national debt. How would leaving money that doesn't pay for anything anyway in the pockets of Americans hurt the economy? |
Why is federal income tax "unconstitutional" ? Do you mean it was created by an amendment - so its unconstitutional ? Well then, freedom of speech is unconstitutional as well. |
No, because the Supreme Court has ruled it so. Originally, the Constitution provided for direct taxes, which are divided equally amaongst the citizens, and indirect taxes, which you can avoid buy not purchasing the taxed item. The income tax is neither of these. Now, most people think that the 16th amendment granted Congress the power to levy income taxes, but this is not so. In the case of Stanton v. Baltic Mining Co., the Supreme Court ruled that "the 16th Amendment conferred no new power of taxation." Furthermore, in the case of Doyle v. Mitchell, the court defined the word "income" in the 16th amendment as meaning corporate profits, NOT personal wages. It's perfectly legal to tax a corporation's profit, but not an individual's earnings. |
I'm not sure how you figure abolishing one very big source of income for the US will help the country. If you are correct and it all goes to paying the national debt...what do you think will happen if you take that money away? The US can't just stop paying its national debt because it left the money in the hands of the citizens. You'd just end up paying the same amount some other way... |
That's where the Federal Reserve comes in. If the US Congress actually coined money, like the Constitution says it is supposed to, instead of borrowing unbacked fiat paper notes created out of nothing by a private banking cartel, then there would be no national debt in the first place. Also, Ron Paul has voted against the Iraq War from the beginning, unlike most of the Democrats, and advocates a strict non-interventionist foreign policy. |
Are you implying that the US holds an estimated 8-10 trillion dollars in the federal reserves? Even if there was enough to pay off the entire US national debt, then what?
edit: ps, I'm not trying to say your ideas are dumb or anything, I'm curious how you think it would work.
