Taxes

[cupotea]

Same with Hamilton. He was a d--k, as old Mark would say, but he was a good Secretary of the Treasury (wasn't he?!). He created the Federal Bank in order to lower America's debt from the war.. This brings me back to American history in highschool, so I don't remember it too well; but that was what our teacher emphasized.

 

[Puritanhead]

That's another reason I don't like him... The Bank of the United States, the central bank on the model of the Bank of England was an onerous institution that corrupted the body politic and paved the way for the Depression of 1819, particularly under Nicohlas Biddle. The "paper aristocracy" of stock-jobbers, speculators, politically-connected manufacturers, and fidiciary elites sought enrichment by spoilation of the taxpayers whether by high debt or seeking bounties. I favor the independent Treasury system that Martin Van Buren instituted, where federal revenues are deposited in Treasury and not private or a central banks. I am Jeffersonian in my views on banking and currency, and favor precious metals over paper. Central banks are conducive to aggrandizement of high debt and taxes... Look what happened since the passage of the Federal Reserve Act... We get an income tax three years later, and now we have a $7 trillion dollar national debt in the U.S. and the over-inflated fiat currency is 2% of its par value at the impetus of the Federal Reserve.

 

[cupotea]

Originally posted by Puritanhead
...favor precious metals over paper..

I understand that precious metals last longer, but this is one case where you need to live in Canada for a few months to recognize that they're only useful on paper, pardon the pun. I can't tell you how much I hate Canada's currency; everything under $5 is a coin! Which means that if you break a five to buy a chocolate bar, you only get change back, so your wallet is bloody bursting at the seams and weighs five thousand pounds.

Mind you, I know what you're saying. Of course, it is better to actually have the amount of money of currency that is issued, than to issue currency based on a tentetive (spelling?) worth. That's entering dangerous territory! My rant is directed at the currency itself.

[Edited on 8-6-2005 by Cottonball]