Friday, December 3, 2010

The Sixteenth Amendment..

The Sixteenth Amendment, the Income Tax was ratified in
1913, enacted  to generate revenue to fund the government.
But, it  has become much more,  it became the gift which kept
on giving for almost 100 years. 

The income tax has had the greatest influence on the lives 
of the American people and businesses than any other law.

It has been both an inhibitor and contributor to economic 
growth, it has been a motivator and a destroyer of human 
initiative, it has been an axe wielded at will, often with a 
vengeance on the American people, all in the  name of 
providing for the greater "good", at least this is what we
are told.
It has also been both the greatest stimulus and retardant
to economic growth since its inception.

Time and again politicians used the income tax to advance
their own cause, while dividing the American people.

And now, once again, the battle lines are drawn. Some want
the lower tax rates extended, warning to raise them would
have an adverse affect on a weak economy, while others
believe the highest rate be raised to bring in more revenue.

Politicians long ago understood the value of dividing citizens,
and wealth envy is an important component to do this.

The media play up of the "rich vs poor" angle so the public
remains consumed with this class welfare element that
divides even the best of friends.

How will whatever tax rates are applied strengthen a weak 
job market? We rely on the people we elect to know this,
but its doubtful they do.

1 comment:

  1. Doubtful indeed, not ony for the elected but the electors. Well said!

    ReplyDelete