|How much time's left on the clock?
The first income tax in the history of the nation was assessed in the year of 1862 for the purposes of raising money for the Civil War. All citizens were taxed 3% on their income. This change came while President Abraham Lincoln was the sixteenth President of the United States of America. By 1864, the year before Lincoln's assassination, the rate had grown to 5%. On April 14, 1865, Lincoln would sign into law the Secret Service, the nation's first "police" force. Later that same day he would be shot in Ford's Theater. He would pass in the early morning of April 15. At this same time, he had introduced the Greenback, a debt free currency, for the purpose of moving the Union away from a banking system that seemed to be corrupt in his eyes and experience.
In 1872, seven years after the assassination of Lincoln, the bill creating the income tax expired and Congress allowed it to remain expired. In 1894 the Supreme Court of the United States would rule on the income tax, stating it was unconstitutional in Pollock v Farmer's Loan and Trust Company. At the time, it might have seemed the income tax was dead.
It wouldn't be until 1907 this attitude would change in the country. At this point in the nation's history President McKinley had been assassinated six years earlier and Theodoore Roosevelt, previously Vice President to McKinley and 33rd Governor of New York, had become President of the United States. In 1907, it is said he became radical in proposing the income tax and three other big ideas, refereed to as the "Square Deal"; not to be confused with his cousin's Presidency and the "New Deal". In 1908, the amendment for a national income tax was introduced and the National Monetary Commission was created. In 1913, Theodore Roosevelt's proposals would become the Federal Reserve, under President Woodrow Wilson, the first United States President to go overseas which serving in the White House. This is the same year the Sixteenth Amendment to the United States Constitution would be enacted, giving the Federal Congress the legal authority to levy a tax against the people, The date this passed, was the February 3, 1913- the day after the 33rd day of the year.
Since 1913, the United States dollar has been on a nose dive. It almost seems as though it has been a slow, purposeful, drowning, of the currency- achieved through perpetual wars of rigging as much as unnecessary aggression. In 2014, 101 years later, are we ready to bring it to an end?
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