Need an Edmunication regarding US income tax history

[devilgrrl]

I'm getting into it with a bunch of "libertarians" and got the following from one of them:

"there was no income tax, property tax or social security until the 1930's. The process began in 1910. The money you pay in federal taxes goes toward paying the interest on the money that the US Government has borrowed from the family owned corporation called the Federal Reserve. No it is not Federal and no it does not have any ... Read Morereserves, it is a private corporation. If the US gov. Printed it's own money instead of borrowing it from the Federal Reserve we would not need income tax. FDR sold our land and our labor to the Fed in the 30's. Look up all the ACT's that FDR passed and you will see where many of the initial problems came from. It's over. Mark my words."

Can anyone help me out with this? Many thanks in advance.

:patriot:

[devilgrrl]

1. another comment...

"Actually Wilson signed the Federal Reserve Act. FDR made private gold ownership illegal though. Most folks don't know that.

The funny thing is that liberals, being champions of the poor and disenfranchised generally, should be the most against fiat currency and the Fed. In our monetary system those that handle the money first (bankers) have a huge... Read More advantage. Too much economics to go into here. A cartel of private bankers pushed through the Federal Reserve Act. Inflation only exists with fiat currency, and inflation harms the poor more than anything since they don't have hedges like stock, commodities, or real estate. So why don't Democrats care about inflation?"

[Warpy]

2. As usual, Looneytarians are long on dogma and short on facts

Start here for the history of it in the US and elsewhere: http://en.wikipedia.org/wiki/Income_tax As you can see, they missed the first income tax by 49 years.

There were indeed taxes before the income tax, which replaced many of them because they were seen to be regressive or injurious to business.

My own best advice is to extricate yourself from the argument after posting the Wiki article. Trying to talk sense to a Libertarian is like trying to mud wrestle a pig. You get all dirty and the pig likes it.

Some people are so lost in dogma that only being buried in adverse facts in the course of their own lives will get through to them.

[devilgrrl]

3. They're giving each other high fives all ready.

Thanks for the help.