Why the IRS should be abolished. OR Your Income Tax pays for Nothing!

ETA: I didn't credit this properly. I didn't write this, Nick did. But we share the same views.

This may be well-known to some people, but most of the American public is completely unaware.

In 1913, Congress established the Federal Reserve, a cartel made up of private banks (that is, the Federal Reserve is not a government agency). When Congress needs money to spend and it doesn't have it, the Federal Reserve prints it and loans it to them. We pay interest on this loan, currently around $900 billion each year.

Guess what else is $900 billion per year -- The amount of federal income tax collected from Americans. So the income taxes you pay to the IRS don't actually pay for anything, they just pay interest on a debt, and an unneeded debt at that.

Why is the debt unneeded? Because Congress has the constitutional authority to coin money themselves. So why would Congress borrow money and pay interest on it when it doesn't have to?

Because Congress is only allowed to create money out of gold and silver. The Federal Reserve, while it has no authority under the constitution, prints paper money that is worthless. It only has value because they say it has value and we believe them. Because of this, they are the cause of virtually every monetary crisis this country has suffered in the past 100 years, including the Great Depression.

Here's an example. Let's say that I'm a very wealthy developer, and I need to borrow money to develop land. Money that I borrow in large quantities was recently printed by the Federal Reserve. When I make my purchases, I make them at a set price. But once I've flooded the market with new paper money, the market will realize the increased money supply and cause monetary inflation -- That is, increased prices without an increase in demand or a decrease in supply. By the time this new money makes it to the middle and lower classes, the money is worth less because prices have gone up.

This is why "the poor get poorer and the rich get richer" and "the middle class is disappearing" as we so often hear. The vast majority of people don't understand this, and they blame the free market and lack of government regulation for this. And then they call for government assistance like universal health care and education.

As we know, the government spends more money than it brings in, which is why we have this inflation problem that causes the middle and lower classes to become poorer. So what would happen if government started providing for universal health care and everything else? They would spend more money that they don't have, which means they would print more money, which means the debt would go up, inflation would go up, poor people would get even poorer, rich people would get even richer, and we'd be feeding this perpetual cycle; because we'd need the government to provide even more.

Why would the government want spend money so irresponsibly? Because spending money without increasing taxes is traditionally what gets politicians re-elected. And the banks that own the Federal Reserve like it because the more the government spends, the more it borrows, and the more interest the Federal Reserve collects from the federal income tax.

How do we get out of this cycle? First, we get rid of the Federal Reserve and we put our government back onto a sound money system (that is, it has backing like gold and silver), because they should only be able to coin money out of things that are actually money. This would virtually eliminate monetary inflation so prices stabilize and prices don't keep skyrocketing.

Then, we get rid of the IRS. Without the federal income tax, we don't really need them anymore. And without an income tax, people will have more control over their money.

Of course, we could keep looking at things on the surface and say that the government should keep taking care of us, giving all of our money to the rich and leaving nothing for us. It was Adolf Hitler who said, "Lucky for rulers that men do not think."