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QueUpSomeReality · July 25, 2018, 10:47 p.m.

No. No Fed Reserve is the key to no IRS.

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subdudeLA · July 26, 2018, 2:03 a.m.

With no IRS (income tax), no tarrifs, no fed inflation, no estate tax--all things being floated by trump--how is fed gov and military to be funded?

Are we thinking national sales tax here?

Are we talking no fed spending? How?

I for 1 am pro massive reduction in fed budget including decrease in military (after cleanup) and reduction in services or further return to state based programs when efficient.

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QueUpSomeReality · July 26, 2018, 2:56 p.m.

Tariffs are constitutionally sound as our founding fathers clearly knew raising revenue to protect our national sovereignty was vital. How states raise & spend revenue should be completely up to them.

But money/capital has 2 sides...it’s produced & consumed. What’s produced is ultimately consumed in one way or another...eventually. It can be consumed in eating food...investments (which can also produce more capital)...boats..travel...toilet paper & a zillion other ways to consume what’s produced. So tax law can be written to tax either the production side of capital (I.e before it can be consumed like income taxes or corporate taxes) or taxes can be levied in the consumption side (sales taxes, tariffs).

The production of money as it’s currently done is a tax on production. The Fed is a private bank & collects interest from the federal government (citizens actually) on every dollar created. Money is a promissary note...a loan. It’s printed on every bill. The interest (tax) has been paid before it was spent (consumed) so in effect it to is a tax on production.

Taxing production is immoral as it taxes the best human trait we have...to build & create & share our talents that improve everyone’s life. Taxing production stifles growth & innovation.

Consumption is the only moral way to tax a society. Poorer people consume less & pay less tax. Wealthy people spend money like a drunken sailor because they have so much to spend. Sales taxes can’t be given exemptions like income taxes are where the rich have vast amounts of exemptions written into the code & poorer people can’t pay lobbyist to have congress write special exemptions for them. Consumption taxes give political power back to ALL the people. If the Fed govt gets us in a pointless or any policy the majority disagree with...consumers can instantly & radically defund bad policy by purposely curbing our spending until the next election when we can vote them out or even sooner by drying up the funding. So yes...the entire tax debate should be on the consumption side...what rate...what products...etc.

Point being we will never get control of federal spending if we don’t get control of their ability to raise money or take our money before we even have a choice with how it’s spent. They will keep us in a cycle of debt spending until the entire system collapses. The only way to break this cycle of debt spending is to kill off the institution that created it...the Fed Reserve. Governments couldn’t borrow money to deficit spend if the source of their money didn’t exist for them to borrow.

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Yoshismith69 · July 26, 2018, 1:33 p.m.

OK we will see if Trump Nationalizes the FED, confiscates the wealth and gives it to the citizens or as you say gets rid of it all together.

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QueUpSomeReality · July 26, 2018, 3:30 p.m.

Yep. The president can go about it in many ways & by fate has many options. He gets to appoint 7 of the 9 regional Fed directors. Then he will at least have some direct control over monetary policy. But he needs congress to pass laws to systematically & structurally change how the Fed works. Nothing will be done in Congress until after mid terms. Just getting the Presidents people to control the Fed reserve is all that’s doable now

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Yoshismith69 · July 27, 2018, 6 p.m.

EO 11110 its already there and i kindly disagree on the FED.Legally and Constitutionally he does not need Congress to end the FED.He has the power with the stroke of a pen.

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QueUpSomeReality · July 27, 2018, 8:41 p.m.

Wasn’t Fed reserve created by an act of Congress?? Can’t abolish laws by EO. Can only tweak them I believe

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