Re: each time you do a financial transaction in your banks etc you will be taxed on it
Posted by:
History is not your friend
()
Date: March 26, 2021 09:08AM
We already have wealth taxes, estate taxes and capital gains taxes, and we have a sales tax that is functionally the equivalent of of the VAT tax. Wealth and estate taxes date back to at least Norman times. You know 1066 and all that crap. Capital gains taxes have been a part of the income tax since 1913. Sales taxes were authorized in the U.S. Constitution. A 50% top marginal income tax rate was a feature of the Internal Revenue Code from WW2 until 1986. That's right. Even Reagan proposed a tax law that permitted a 50% Federal income tax rate and 55% Federal estate tax rates. So were the knights of England, the Founders, the early 20th century progressives and Ronald Reagan commies?