Federal Reserve and Federal Income Tax

 1913 is when the Federal Reserve was created.  It’s also when the Federal income tax began.  Since then it’s been a massive cycle of borrowing more money and raising taxes to service the interest on that debt.  Also, since then the dollar has devalued over 90%!  Does that sound like a successful system?

Maybe Trump will tear it all down?

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The answer to 1913 is 2025.

This year, we are seeing things get proposed in Washington D.C. that once would have been unthinkable.

For example, Commerce Secretary Howard Lutnick just told Fox News that President Trump wants to “abolish the Internal Revenue Service”…

More details have emerged from the Trump administration about alleged plans to get rid of the Internal Revenue Service (IRS) and utilize tariffs so the “whole economy explodes.”

“His goal is to abolish the Internal Revenue Service and let all the outsiders pay,” Commerce Secretary Howard Lutnick said Wednesday on “Jesse Watters Primetime.”

“As the president said, reciprocal tariffs, either you bring yours down or we’re going to bring ours up. If we go to their level, it will earn us $700 billion a year to be equal to everybody else,” he expanded Thursday on “America’s Newsroom.”

And it appears that the Trump administration is already taking concrete steps toward that goal.

Because what we have been doing for decades is clearly not working.

The Federal Reserve system is designed to create debt, and the income tax is designed to service that debt.

We find ourselves on an endless hamster wheel that becomes more painful with each passing year.

The charts that I am about to share with you tell a very clear story.

The primary reason why we have had an almost unbelievably high standard of living over the past three decades is because we have piled up the biggest mountain of debt in the history of the world.  Once upon a time the United States was the wealthiest country on the entire planet, but all of that prosperity was not good enough for us.  So we started borrowing and borrowing and borrowing and we have now been living beyond our means for so long that we consider it to be completely normal.

When President Woodrow Wilson entered the White House in 1913, the U.S. was less than 3 billion dollars in debt.

Now we are 36 trillion dollars in debt…

https://www.zerohedge.com/personal-finance/answer-1913-2025-3-charts-show-why-income-tax-irs-fed-should-all-be-abolished