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Originally posted by admriker444
In 1983-84 the Grace Commission released its final report (after 2 years of study). In it, the Grace Commission determined that 100% of all income tax revenue collected by the goverment went to pay the interest on the debt owed to the Federal Reserve.
Resistance to additional income taxes would be even more widespread if people were aware that:
* One-third of all their taxes is consumed by waste and inefficiency in the Federal Government as we identified in our survey.
* Another one-third of all their taxes escapes collection from others as the underground economy blossoms in direct proportion to tax increases and places even more pressure on law abiding taxpayers, promoting still more underground economy-a vicious cycle that must be broken.
* With two-thirds of everyone's personal income taxes wasted or not collected, 100 percent of what is collected is absorbed solely by interest on the Federal debt and by Federal Government contributions to transfer payments. In other words, all individual income tax revenues are gone before one nickel is spent on the services which taxpayers expect from their Government.
A payment of money by the government to an individual that does not form part of an exchange but rather represents a gift without anything being received or required in return. Examples of transfer payments would include student scholarship grants, welfare checks, and social security benefits. Establishing programs providing for transfer payments from the budget to particular favored categories of the population represent one of the most direct ways in which a government may pursue policies of income redistribution.
The (Grace) Commission was created by President Reagan in June 1982 to identify ways to root out waste and mismanagement in the federal government. But the Commission's real agenda was to make some distinctly partisan, business-oriented interpretations of "waste" -- food stamps, educational loans, toxic dumping regulations, nutrition programs, small town post offices.
Comprised of 161 top corporate officers, the executive board wanted to enjoy the official status and legitimacy of a government body without having to observe the rigors of the democratic process. The Grace Commission's deliberations were closed to the public and press, and even the names of task force members were withheld until the threat of a congressional subpoena pried them loose. Given the overwhelming pro-business bias of the Commission's 36 task forces, conflicts-of-interest soon emerged: oil companies urging EPA to weaken hazardous waste regulations, food companies urging less stringent federal inspections of meat, poultry and egg processing operations.
Originally posted by admriker444
They might as well cut out the middle man (IRS and goverment) and send our money directly into the hands of the private stockholders of the Fed (rockefellers, rothschilds, goldman-sach, etc)
Originally posted by Astyanax
If this is the case, how are government projects and services paid for?