Should the 16th amendment and Federal reserve Act of 1913 be repealed?

Answer 1

The income tax and the IRS should be permanently repealed in favor of the Fair Tax plan proposed by congressman John Linder of Georgia.
The Federal Reserve act needs to be revised to go along in accordance with the changes!

Answer 2

On the 16th Amendment, in theory, it should be repealed. However, in practice, it is going to be virtually impossible. The government requires revenue to run. There are only a certain number of ways to get this revenue. One such way is the income tax, taxing individuals personal income in order to operate the government. Alternative ways would be to simply print more money, which would lead to massive inflation which would be far worse, or a national sales tax, which hurts the poorest individuals in a society, as the rich generally keep a larger portion of their wealth in savings and would likely find a way around the tax through importation or some such maneuver. So, while income taxes are unpleasant, they will remain a part of life for a while.

As far as the Federal Reserve Act of 1913, I don't see any reason to want to repeal this. The Federal Reserve has done a fairly good job of containing inflation in the past few decades, keeping the economy stable for the most part. Yes, there are still recessions, but on the whole, they have been less frequent and for a shorter duration than they were prior to the Federal Reserve Act. Yes, I realize that the Great Depression occurred under their watch, but a similar event has not occurred since then that would indicate the Federal Reserve is incompetent. Look at the September 11 response. Although the stock market fell (which has nothing to do with the Federal Reserve) the economy did not tank as badly as it could have been. The Federal Reserve stepped up and helped keep the economy going by cutting interest rates and promoting spending in the economy, keeping it growing in a time where it would not have otherwise.

So, no, I don't think these acts will be repealed, nor should the Federal Reserve Act be repealed.

Answer 3

Well, that's really a matter of opinion. Remember that America, while we don't have the lowest income tax, is far below Scandinavia's average 45%. Also, the Congress has the right to lay taxes over us so that the States don't. Look into the Articles of Confederation, and see the hell that they brought about. The central government takes taxes so that the states don't whallop us even more.

But it's your opinion.