G. Edward Griffin Quotes About Taxes
-
In the North, neither greenbacks, taxes, nor war bonds were enough to finance the war. So a national banking system was created to convert government bonds into fiat money, and the people lost over half of their monetary assets to the hidden tax of inflation. In the South, printing presses accomplished the same effect, and the monetary loss was total.
→ -
During the fiscal year ending in 1861, expenses of the federal government had been $67 million. After the first year of armed conflict they were $475 million and, by 1865, had risen to one billion, three-hundred million dollars. On the income side of the ledger, taxes covered only about eleven per cent of that figure. By the end of the war, the deficit had risen to $2.61 billion. That money had to come from somewhere.
→ -
The nation's first experiment with the income tax was tried at this time; another violation of the Constitution.
→
Related Authors
-
Chuck Baldwin American Politician -
Aaron Russo Businessman -
Llewellyn Rockwell Author -
Stefan Molyneux Author -
Antony C. Sutton Economist -
-
Murray Rothbard Economist -
Ron Paul Former U.S. Representative -
Nelson W. Aldrich American Politician -
Doug Casey Writer -
Gerald Celente Business consultant -
Alex Jones Journalist -
Jim Marrs Journalist -
Carroll Quigley Historian -
Eustace Mullins Writer -
Pat Buchanan Former Assistant to the President for Communications -
W. Cleon Skousen Author -
David Ray Griffin Professor -
Glenn Beck Radio host -
Peter Schiff Author