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Gold Price Trend Forecast Summer 2019

Another Record Collection from Federal Taxes

Politics / Taxes Apr 20, 2016 - 02:22 PM GMT

By: BATR

Politics

There is not a single American alive that has a recollection of a time without a Federal Income Tax. Yet, the country existed and prospered greatly before the constitution was perverted to fleece the pockets of Americans. As with most deceptive schemes to defraud, the sales pitch seldom resembles the reality of the final outcome. The fact that the excessive growth, reach and scope of the District of Criminals government has developed into an oppressive empire during this time, is no accident.


Joseph J. Thorndike offers this analysis in the Tax History: Original Intent and the Revenue Act of 1913:

"People supported the income tax because it was originally meant to impose only very low tax rates on only the highest incomes," wrote Raymond J. Keating in a 1996 article for The Freeman. "Proponents argued that the 16th amendment to the U.S. Constitution would force the so-called 'robber barons' to pay taxes. It was not supposed to provide a mechanism for Washington to reach into most Americans' pockets."

Now we all know how this naïve viewpoint worked out. At no time have the rich become much richer than under the tax and spend culture of big government. The latest tax stream of coerced revenue tells the tale. The Free Beacon reports in $1.48 Trillion: Government Collects Record-High Taxes in First Half of FY 2016.

“Treasury receipts include tax revenue from individual income taxes, corporate income taxes, social insurance and retirement taxes, unemployment insurance taxes, excise taxes, estate and gift taxes, customs duties, and other miscellaneous items.

The federal government collected $1,476,218,000,000 in the first half of fiscal year 2016. Most of the $1.48 trillion came from individual income taxes, which comprised almost half of that total, totaling $675 billion.”

Despite collecting record revenues, government still runs a $461 billion deficit.

Now compare the money coming in with just the amount of funds needed to service the INTEREST on the debt. According to the U.S. Treasury, the Interest Expense Fiscal Year 2016 is:

March              $25,134,528,014.75

February         $18,785,288,294.36

January           $21,310,629,685.82

December       $86,649,956,614.54

November       $23,107,464,608.89

October           $16,789,489,434.74

Fiscal Year Total         $191,777,356,653.10

Now as any honest student of monetary debt created money knows, the Federal Reserve is a private bank that loans money to the Federal Treasury AFTER the Fed originates their Federal Reserve notes out of thin air. Adding zeros and ones to a digital computer entry is and has never been, sound currency or real species.

Next expand the envelope and start thinking outside the box. The Federal government debt clock runs unstopped at over $19.247 TRILLION, while the gross domestic product is well below that figure at 18.272 Trillion. Any country that runs a higher debt than the total business activity generated by its economy is flat broke.

Before the passage of the Federal Reserve Act and the creation of a central bank, in the year 1910 the national debt was 2.65 BILLION with a total debt as a percentage of GDP of 8.1%. In today’s 2015 fiscal environment, the debt was 18.14 TRILLION with a total debt as a percentage of GDP of 101.8%.

The significance is that this unconceivable multiplication of financial liability obligations cannot and will not be paid back and retired.

Here comes the hard part to accept and internalize. For the most recent entire year the U.S. Federal Tax Revenue is 3,317 Trillion with Income tax revenue receipts at 1.584 Trillion.  However, the U.S. Total Interest Paid is an incomprehensible amount of 2.409 Trillion with a total debt obligation of an unfathomable and unfunded obligation of 64.756 TRILLION.

As you see the income tax, can and will never pay, for even the interest on the aggregate debt.

The way to explain this systematic theft is found in understanding, What is the relationship between the Federal Reserve Act and the Federal Income Tax?

“The corruption and trenching of jurisdictions by the federal governments and the banking 'associations' of this continent have stolen the citizen's disposable surpluses such that they can no longer afford the organizations and charities which once blessed our communities and protected our families. Once upon a time we didn't need the welfare state because in North America the Christian concept of charity thrived to the extent that Alexis de Tocqueville, remarked that "America is teeming with such associations and charities, choral groups, church study groups, book clubs, etc., and that they have a remarkably salutary effect on the whole society." The civility, joy and near costlessness of pure Christian charity is supplanted with low substitutes and virtue has been done down to the 'values' excuses of the effete mandarins and their self-serving obfuscation taught them by the banker's minions.

The concept of "forgive us our debts" flies in the face of the banking oligopoly's surety. This was well known to Moses and Jesus, both of whom forbade surety interest on money as they understood this root cause of hell on earth.”

Folks, the debt MUST be repudiated and the diabolical debt created monetary system of the Federal Reserve central bank has to be abolished for all times. All other discussions on banking reform will never resolve the fundamental enslavement, which uses a convoluted tax code to reward compliant or punish non acceptable behavior. The technocrats that continually add and modify credits, subsidies and benefits that enhance the privileged elites and impoverishes the dwindling middle class all starts with indebtedness money.

The Federal “Pirates on the Potomac” will never be satisfied with the revenue that is extorted from the public. The social engineers are tools for the globalists, who push for more collectivism and want to impoverish the remaining industrious producers.

Congratulations if you survived another tax day. You are a prisoner in a cage with no door out. Every year the octopus of big government moves in an ocean of polluted expectations, while stifling the righteous possessions of the constructive generators of society. This tax fraud on income is the worst of all possible disincentives.

James Hall – April 20, 2016

Source: http://www.batr.org/negotium/042016.html

Discuss or comment about this essay on the BATR Forum

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Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors

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