The income tax act of August 14th, 1935, was simply a source of revenue for the
general fund. This Act imposed an excise tax upon the Employer and a separate
excise tax upon the employee to raises this revenue.

The Employer, the United States, and its instrumentality's withhold the
employee's contributions at its source.

The Grace Commission Report of 1984 stated without rebuttal, that all "income
taxes" collected from Individuals, and corporations were paid 100 percent to the
Federal Reserve Bank for the interest on the national debt.

Now, why would the Congress of the United States, how would the Congress of the
United States function with its debit money system, if it could not pay the
interest on the Obligations?

The Congress of the United States has not decreased the tax burden upon the
Americans since March 14, 1914. The Congress of the United States has simply
redirected the burden.

An Inhabitant upon the land


-----Original Message-----
From: Mark Gill [SMTP:markgill@...]
Sent: Friday, September 10, 1999 4:03 AM
To: economics@onelist.com
Subject: Re: [economics] [Fwd: Clinton versus Cleveland and Coolidge on Taxes]

From: Mark Gill <markgill@...>

when will the iou's in the Social Security Trust Fund be repaid?
even Senator Hollings, demo from SC, has said there is no surplus.....

seems to me that if a tax cut is given, it should be as an incentive
towards savings and investment...not just as a political ploy for
election purposes....

plus, i have heard no specifics as to what type/kind of tax
cuts.....and, did the l986 cuts produce increased revenues?

we spend around 250 billion each year just on the interest of
the national debt....even Greenspan as indicated paydown on
this debt to be more useful than a huge tax cut....

any comments?

Mark Gill

Mumpsimus wrote:
>
> From: Mumpsimus <mumpsimus@...>
>
> Mark Gill wrote:
> question...since everyone says there is no real surplus, why
> is such a huge Republican tax cut even feasible? if such a cut
> were to occur, Washington would simply find other ways to tax,
> in order to make up the loss of revenue....rather obvious, isnt
> it?
>
> Historically, every -- repeat EVERY -- time taxes have
> been CUT, government revenues have increased.
>
> The 'surplus' is derived from excess Social Security taxes
> which were not doled out in elderly and other arbitrary
> groups welfare.
>
> Mumpsimus
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--
Envoy to Caribbean, IAEWP (NGO)
Albert Schweitzer Caribbean Foundation
Albert Schweitzer Society International
drgill markgill@...

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