100 yrs later, re-tax the 1%

When the income tax was introduced to the United States in 1913 by Woodrow Wilson, only 1% of Americans had to pay the income tax. Only the wealthy Americans had to pay, and the wealthy Americans were the property owners whose income consisted almost entirely of interest, dividends and land rent. And so, in effect, America was taxing the unproductive rentiers, the people, the classes that ruled Europe and avoided taxation in Europe, and its subsidized industry. And that’s why America was able to subsidize its industry to overtake that of England.

Comments 6

I really never liked this whole making a living off of what I feel should be a human right, having somewhere to live. The rental market has its purposes for sure but it becomes a toxic profiteering game in my opinion. I think that tax reform on it should be looked at to push money into more productive endevours

18.08.2019 11:06

exactly, look at the vid in my last post about prof. richard werner ... all the great and honest economic minds know that a civilized, political economy means investing in productive means as the focus. it's really very simple, but everyone is gamed by the noise and endless idiotic debates like usual. get rid of the rentiers and unearned income fat cats ... our society pushes the lowest common denominator and feeds the masses garbage instead of trying to educate, inspire, and prosper... it's sometimes amazing we've made it this far. if we'd just let human decency triumph over human greed & fear.

18.08.2019 11:59

Thanks for using eSteem!
Your post has been voted as a part of eSteem encouragement program. Keep up the good work! Install Android, iOS Mobile app or Windows, Mac, Linux Surfer app, if you haven't already!
Learn more: https://esteem.app
Join our discord: https://discord.gg/8eHupPq

18.08.2019 11:31

Thank you so much for participating in the Partiko Delegation Plan Round 1! We really appreciate your support! As part of the delegation benefits, we just gave you a 3.00% upvote! Together, let’s change the world!

18.08.2019 12:31

Taxes.......another way to steal money from the people and feed an efficient bureaucracy that produces nothing and wastes resources which could be used by the people

18.08.2019 16:42

capitalism is a one way street my friend ... no worries we are still in economic infancy,,, hundreds of years from now they'll have a different name for it, as that will likely be a dirty word

19.08.2019 12:33