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Did you know that there is no law in the constitution stating the taxes had to be payed at the end of the year? In Fact, taxes payin is only legalized by the states as a individual. This is used as a way to get people to pay taxes to the goverment. Why you ask?Do you know wat a central bank is?A central bank is a bank that makes the money, regulates the money, and loan the money to the leaders of countries, or in other words goverments. Its also known as the federal reserve.Now That we Got that out the way, The goverment borrows money from these banks. for things such as war. but every dollar borrowed, there is a interest attached. so the more money they borrow, the more debt. how do they pay for the debt ? the borrow more money. which ends in never ending debt to the banks.
Here is where the tax payers come into play, the money collected from the tax payers go directly to the pockets international bankers of the central bank. The goverment you the money pay the interest on their debt

2007-11-05 06:13:01 · 4 answers · asked by yungruc17 1 in Politics & Government Other - Politics & Government

4 answers

Yes, I do know what is done with taxpayer's money. You, however, do not.

1. You are right, there isn't a law in the Constitution stating taxes have to be paid. There is, however, a POWER given to Congress to lay and collect taxes. Article 1, Section 8 of the U.S. Constitution. You should read it.
http://www.senate.gov/civics/constitution_item/constitution.htm

2. Using that power, Congress has passed various tax legislation which is all codified in Title 26, U.S.C. You should read that too.
http://www.access.gpo.gov/uscode/title26/title26.html

3. I know what a central bank is. Unfortunately, you do not. The Federal Reserve in the U.S. does perform functions that regulate the money supply. It does not print the money and it does not loan money to governments. The Bureau of Engraving and Printing prints the money. The U.S. Government borrows money by issuing securities. T-Bills, T-Bonds and T-Notes are all U.S. Government securities. Typically, the government will sell these at auction. Anyone can buy these securities from the U.S. Government, even you.

4. Debt occurs whenever the government spends more money than it brings in, which unfortunately occurs often. However, only a portion of the revenue collected by the government goes to pay the interest on the debt. The government still collects more than just the amount needed to pay the interest. In 2006, the Government collected about $2.4 trillion in revenue. The total interest on the debt was $405 billion.

5. The money collected from individual income taxes goes into the general fund. Congress and the Congressional Budget Office decide where it goes from there. BTW, the Federal Reserve only holds about $800 billion of the U.S. Government debt. The Federal Reserve collected $36.5 billion in interest from the Government in 2006. However, as required by law, the Federal Reserve returns excess income to the U.S. Treasury. In 2006, the Federal Reserve paid the U.S. Treasury $29.1 billion. Since the individual income taxes collected in 2006 were over $1 trillion, does it look to you like all the money went to the Federal Reserve?

6. The Federal Reserve is not owned by international bankers. In fact, Federal Reserve stock cannot be owned by private individuals or foreign governments. The only entities that can own Federal Reserve stock are the member banks and the member banks must be national banks or state banks. Also, the amount of shares each bank owns is set to an amount required by law. They don't have any say in the matter. This makes it appear the Federal Reserve is owned by the member banks, but it really isn't.

BTW, this is all verifiable. The Federal Reserve payments can be seen in the AUDITED financial statements of the Federal Reserve Banks.
http://www.federalreserve.gov/boarddocs/rptcongress/annual06/pdf/audits.pdf
I bet your conspiracy theory video told you the Federal Reserve has never been audited too.

The law covering the Federal Reserve and it's structure.
http://www.access.gpo.gov/uscode/title12/chapter3_.html

Here is some data on the income tax numbers.
http://www.taxpolicycenter.org/taxfacts/displayafact.cfm?Docid=203

2007-11-05 11:15:39 · answer #1 · answered by NGC6205 7 · 2 0

"Did you know that there is no law in the constitution stating the taxes had to be payed at the end of the year?" - While your statement is technically correct, your argument is incorrect. The constitution authorized congress to levy taxes. It just did not say in the constitution when the taxes had to be paid.

Taxes were authorized in Article I, Section 8:
"The Congress shall have power to lay and collect taxes, duties, imposts and excises, to pay the debts and provide for the common defense and general welfare of the United States; but all duties, imposts and excises shall be uniform throughout the United States;"

The 16th amendment further provided for the collection of income taxes and specifically stated the federal government could keep them:
"The Congress shall have power to lay and collect taxes on incomes, from whatever source derived, without apportionment among the several states, and without regard to any census or enumeration."

I have asked and asked and no one can show me how "the money collected from the tax payers go directly to the pockets of international bankers of the central bank"

2007-11-05 06:24:39 · answer #2 · answered by davidmi711 7 · 0 0

It goes to the bilderberg group.

2007-11-05 06:31:12 · answer #3 · answered by Yahoo 4 · 0 0

See the above answer, it's correct.

2007-11-05 06:28:47 · answer #4 · answered by 29 characters to work with...... 5 · 0 0

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