Posted 1 year ago on Feb. 10, 2012, 9:15 p.m. EST by Underdog
from Clermont, FL
This content is user submitted and not an official statement
(From Infoplease "History of the Income Tax in the United States")
"In 1913, the 16th Amendment to the Constitution made the income tax a permanent fixture in the U.S. tax system. The amendment gave Congress legal authority to tax income and resulted in a revenue law that taxed incomes of both individuals and corporations."
(From Wikipedia "Federal Reserve System")
"... was created on December 23, 1913 with the enactment of the Federal Reserve Act"
Now the truth of the matter is, politicians knew that the 16th amendment would be very unpopular with the voting public and with corporations. Since they also knew that the 16th amendment would likely never be repealed, they needed a way to generate revenue beyond what the public was willing to pay by increasing taxes. So...voila!... The international bankers sold them on the idea of a central banking system which would allow Congress to borrow instead of tax...and the Fed was born. Americans didn't then know (and until recently largely didn't care) to pay attention to Congress borrowing from the Fed. As long as their paycheck wasn't/isn't impacted by raising taxes, Americans were/are largely oblivious.
(From Wikipedia "United States public debt")
"As is apparent from the chart, a little less than half of the total national debt is owed to the "Federal Reserve and intragovernmental holdings". (about 47% as of Sept 2008)
Look at who actually owns the Fed (a little complicated but will illustrate my point)
American politicians are gutless wonders. They knew starting in 1913 that America would one day likely end up with an unimaginably large debt. And to who would they owe that debt? From the above link please notice that many of the Fed owners are household names. Rothschild, Morgan, Lehman Brothers, Rockefeller, and many others you probably never heard of.
One could argue that the politicians were naive and intended to pay back the loans from the Fed. But only if you were naive would you believe that the simultaneous passage of the 16th Amendment in 1913 and the creation of the Fed in 1913 was nothing more than a curious accident.
And thus the American Corporatocracy was born.
As Paul Harvey used to say, "...now you know the rest of the story".