By Jim Campbell
September 24th, 2021
No where in the IRS Code does it say that the individual owes federal income taxes on the fruits of their individual labor.
To the contrary, they were to pay taxes on their investments in the form of long term or short term capital gains.
Young, first time workers remember the acronym F.I.C.A,. quite well.
It was the most regressive on onerous tax they payed, far greater than federal and state taxes.
Like the Germans, the IRS also has guns, but they prefer to steal our property, selling it for additional monies to build a bigger, slothful, more inefficient government.
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Note, author of the book, “The Creature of Jekyll Island,”comments on our once great Constitution that the original progressive and former college professor subverted by adding a federal income tax and the federal reserve.
When the Social Security program was created in 1935, Social Security benefits were not taxed at the federal level. Federal taxes were imposed for the first time in 1983 as part of a big change to shore up long-term program finances.
Those changes required you to pay income taxes on up to half of your benefits if your combined income exceeded $25,000 for individuals and $32,000 for couples filing joint returns.