Wednesday, August 03, 2011

Debt ceiling and the first income tax law

I thought it was ironic yesterday that President Obama signed the debt ceiling bill into law 150 years to the day of the passage by US Congress of the first income tax in American history, a sweeping new grab of federal power

The first income tax law was designed to tax the nation's wealthiest citizens -- a 3% tax on those making more than $800 per year. It was passed along with a new group of tariffs to finance the war effort to subjugate its own people's rights of self-determination. The tax increases were projected to raise $500 million to destroy the South, the region that until their secession had funded 80 cents of every dollar of the Federal government's operations.

The US Congress at the time of the beginning of the War between the States was a tool of the liberal Republican Lincoln Administration, passing sweeping changes and expansions of power for the Executive branch. It seems that liberals have always been after rich people's money.