{"id":2379388,"date":"2025-02-20T17:11:07","date_gmt":"2025-02-20T22:11:07","guid":{"rendered":"https:\/\/monetizemail.com\/magatoon\/?p=2379388"},"modified":"2025-02-20T17:56:29","modified_gmt":"2025-02-20T22:56:29","slug":"the-answer-to-1913-is-2025-3-charts-that-show-why-the-income-tax-the-irs-and-the-federal-reserve-should-all-be-abolished","status":"publish","type":"post","link":"https:\/\/monetizemail.com\/magatoon\/2025\/02\/20\/the-answer-to-1913-is-2025-3-charts-that-show-why-the-income-tax-the-irs-and-the-federal-reserve-should-all-be-abolished\/","title":{"rendered":"The Answer To 1913 Is 2025: 3 Charts That Show Why The Income Tax, The IRS And The Federal Reserve Should All Be Abolished"},"content":{"rendered":"

Most Americans don\u2019t know that for much of U.S. history there was no federal income tax and there was no central bank. \u00a0But now everyone assumes that we must have a federal income tax and a central bank in order to have a functioning society. \u00a0Today, there are just a handful of nations that do not have an income tax, and more than 99 percent of the entire population of the globe lives in a country that has a central bank. \u00a0Of course the two work hand in hand. \u00a0A central bank creates a spiral of borrowing that is meant to be unbreakable, and an income tax is necessary to service payments on that debt spiral. \u00a0It is not a coincidence that a federal income tax and the Federal Reserve were both established in 1913. \u00a0Since that time, we have piled up the biggest mountain of debt in the history of the world, and that is precisely the outcome that the system was designed to produce.<\/p>\n

So what is the solution to this colossal mess?<\/p>\n

The answer to 1913 is 2025.<\/p>\n

This year, we are seeing things get proposed in Washington D.C. that once would have been unthinkable.<\/p>\n

For example, Commerce Secretary Howard Lutnick just told Fox News that President Trump wants to \u201cabolish the Internal Revenue Service\u201d<\/a>\u2026<\/p>\n

\n

More details have emerged from the Trump administration about alleged plans to get rid of the Internal Revenue Service (IRS) and utilize tariffs so the \u201cwhole economy explodes.\u201d<\/p>\n

\u201cHis goal is to abolish the Internal Revenue Service and let all the outsiders pay,\u201d Commerce Secretary Howard Lutnick said Wednesday on \u201cJesse Watters Primetime.\u201d<\/p>\n

\u201cAs the president said, reciprocal tariffs, either you bring yours down or we\u2019re going to bring ours up. If we go to their level, it will earn us $700 billion a year to be equal to everybody else,\u201d he expanded Thursday on \u201cAmerica\u2019s Newsroom.\u201d<\/p>\n<\/blockquote>\n

And it appears that the Trump administration is already taking concrete steps toward that goal.<\/p>\n

In fact, it is being reported that \u201capproximately 7,000 probationary workers\u201d<\/a> at the IRS are about to be hitting the bricks\u2026<\/p>\n

\n

The Internal Revenue Service (IRS) is planning to slash approximately 7,000 probationary workers in Washington, D.C., and across the U.S. starting Thursday, according to reports.<\/p>\n

The layoffs will affect probationary workers who have been employed for one year or less and have not been able to secure full civil service protection, The Associated Press reported, citing a person familiar with the plans.<\/p>\n<\/blockquote>\n

Wow.<\/p>\n

Meanwhile, the Federal Reserve is also being targeted by the new administration.<\/p>\n

In fact, Elon Musk has suggested<\/a> that the Federal Reserve could soon get visited by the Department of Government Efficiency\u2026<\/p>\n

\n

Musk wrote on X in response to a user\u2019s post about the billionaire\u2019s support for an audit of the Fed that the central bank isn\u2019t above scrutiny from DOGE.<\/p>\n

\u201cAll aspects of the government must be fully transparent and accountable to the people. No exceptions, including, if not especially, the Federal Reserve,\u201d Musk wrote.<\/p>\n

Musk is a longtime critic of the central bank and has called out its decisions on monetary policy as well as claiming the Fed\u2019s workforce is bloated.<\/p>\n<\/blockquote>\n

This is wonderful news.<\/p>\n

Because what we have been doing for decades is clearly not working.<\/p>\n

The Federal Reserve system is designed to create debt, and the income tax is designed to service that debt.<\/p>\n

We find ourselves on an endless hamster wheel that becomes more painful with each passing year.<\/p>\n

The charts that I am about to share with you tell a very clear story.<\/p>\n

The primary reason why we have had an almost unbelievably high standard of living over the past three decades is because we have piled up the biggest mountain of debt in the history of the world.\u00a0 Once upon a time the United States was the wealthiest country on the entire planet, but all of that prosperity was not good enough for us.\u00a0 So we started borrowing and borrowing and borrowing and we have now been living beyond our means for so long that we consider it to be completely normal.<\/p>\n

When President Woodrow Wilson entered the White House in 1913, the U.S. was less than 3 billion dollars in debt.<\/p>\n

Now we are 36 trillion dollars in debt\u2026<\/p>\n

<\/a><\/p>\n

This is what a central bank is designed to do.<\/p>\n

Most people simply do not understand this.<\/p>\n

We have been robbing future generations blind for so long that\u00a0it\u00a0doesn\u2019t even seem to bother most people anymore.<\/p>\n

It is time for a change.<\/p>\n

Sadly, Americans have also accumulated the largest mountain of household debt in the history of the world. \u00a0The following chart which comes directly from the Federal Reserve shows the growth of household and non-profit organization debt over the years\u2026<\/p>\n

<\/a><\/p>\n

Of that amount, more than 18 trillion dollars of it is household debt<\/a>\u2026<\/p>\n

\n

Americans\u2019 household debt levels, including credit card debt, rose to new all-time highs in the fourth quarter of 2024, according to a report by the Federal Reserve Bank of New York.<\/p>\n

The report showed that overall household debt increased by $93 billion to $18.04 trillion at the end of 2024, an all-time high. Credit card balances rose by $45 billion from the prior quarter to reach $1.21 trillion at the end of December, which is also a record high.<\/p>\n<\/blockquote>\n

We have become accustomed to living in debt.\u00a0 We go into massive amounts of debt\u00a0to get an education, we go into massive amounts of debt to buy a home, we go into massive amounts of debt to purchase our vehicles, and we even pile up debt to buy holiday gifts and to purchase groceries.<\/p>\n

The American people want to hear that better times are ahead.<\/p>\n

But under the current system the only way to give the American people \u201cbetter times\u201d is to crank up the debt spiral to an even higher level.<\/p>\n

That is the approach that our leaders have been taking for a long time, and it is madness.<\/p>\n

When you add up all forms of debt in our society, it comes to a grand total of more than 100 trillion dollars\u2026<\/p>\n

<\/a><\/p>\n

We are literally committing national suicide.<\/p>\n

I wish that I could get more people to understand this.<\/p>\n

30 years ago, the total amount of debt in the system was less than 20 trillion dollars.<\/p>\n

Now we have surpassed the 100 trillion dollar mark.<\/p>\n

We are talking about a financial bubble that is unlike anything that the world has ever seen before.<\/p>\n

If we continue down this road, our children and our grandchildren would have no future.<\/p>\n

When people hear words like \u201cbillion\u201d or \u201ctrillion\u201d they tend to tune out.<\/p>\n

But that is a mistake.<\/p>\n

There is an enormous difference between a billion dollars and a trillion dollars.<\/p>\n

Just how big is one trillion dollars?<\/p>\n

To answer that question, I would like to use an illustration that I have used in my books<\/a>. \u00a0If right this moment you went out and started spending one dollar every single second,\u00a0it would take you\u00a0more than 31,000 years to spend\u00a0one trillion dollars.<\/p>\n

Yet\u00a0somehow we have piled up more than 100 trillion dollars of debt, and our financial status just\u00a0keeps getting worse month after month after month.<\/p>\n

If we want to get free from all this debt, we have to abandon the system that created all of this debt in the first place.<\/p>\n

We need to abolish the Federal Reserve, the IRS and the income tax.<\/p>\n

We have been living far, far beyond our means for decades, and it has been the greatest party in the history of the world.<\/p>\n

But it is time to turn out the lights because the party is over.<\/p>\n

The good news is that change is in the air.<\/p>\n

The answer to 1913 is 2025, and those that are attempting to dismantle the current system should be applauded.<\/p>\n

Michael\u2019s new\u00a0book\u00a0entitled\u00a0\u201cWhy\u201d<\/a>\u00a0is available\u00a0in paperback<\/a>\u00a0and\u00a0for the Kindle<\/a>\u00a0on Amazon.com,\u00a0and you can subscribe to his Substack newsletter at\u00a0michaeltsnyder.substack.com<\/a>.<\/strong><\/p>\n

<\/a><\/p>\n

About the Author:<\/strong>\u00a0Michael Snyder\u2019s new\u00a0book\u00a0entitled\u00a0\u201cWhy\u201d<\/a>\u00a0is available\u00a0in paperback<\/a>\u00a0and\u00a0for the Kindle<\/a>\u00a0on Amazon.com. He has also written eight other\u00a0books<\/span>\u00a0that are available\u00a0on Amazon.com<\/a>\u00a0including\u00a0\u201cChaos\u201d<\/a>,\u00a0\u201cEnd Times\u201d<\/a>,\u00a0\u201c7 Year Apocalypse\u201d<\/a>,\u00a0\u201cLost Prophecies Of The Future Of America\u201d<\/a>,\u00a0\u201cThe Beginning Of The End\u201d<\/a>, and\u00a0\u201cLiving A Life That Really Matters\u201d<\/a>.\u00a0 When you purchase any of Michael\u2019s books\u00a0you help to support the work that he is doing.\u00a0 You can also get his articles by email as soon as he publishes them by subscribing to his\u00a0Substack newsletter<\/a>.\u00a0 Michael has\u00a0published thousands of articles on\u00a0The Economic Collapse Blog<\/a>,\u00a0End Of The American Dream<\/a>\u00a0and\u00a0The Most Important News<\/a>, and he always freely and happily allows others to republish those articles on their own websites.\u00a0 These are such troubled times, and people need hope.\u00a0 John 3:16 tells us about the hope that God has given us through Jesus Christ: \u201cFor God so loved the world, that he gave his only begotten Son, that whosoever believeth in him should not perish, but have everlasting life.\u201d\u00a0 If you have not already done so, we strongly urge you to invite Jesus Christ\u00a0to be your Lord and Savior<\/a>\u00a0today.<\/p>\n

The post The Answer To 1913 Is 2025: 3 Charts That Show Why The Income Tax, The IRS And The Federal Reserve Should All Be Abolished<\/a> was first published by Michael Snyder on The Economic Collapse Blog<\/a> and is republished here with his permission. Please support his efforts.<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Most Americans don\u2019t know that for much of U.S. history there was no federal income tax and there was no central bank. \u00a0But now everyone assumes that we must have a federal income tax and a central bank in order to have a functioning society. \u00a0Today, there are just a handful of nations that do …<\/p>\n","protected":false},"author":127,"featured_media":2379390,"comment_status":"close","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[25],"tags":[71],"class_list":["post-2379388","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-us-news-politics","tag-opinion"],"_links":{"self":[{"href":"https:\/\/monetizemail.com\/magatoon\/wp-json\/wp\/v2\/posts\/2379388","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/monetizemail.com\/magatoon\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/monetizemail.com\/magatoon\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/monetizemail.com\/magatoon\/wp-json\/wp\/v2\/users\/127"}],"replies":[{"embeddable":true,"href":"https:\/\/monetizemail.com\/magatoon\/wp-json\/wp\/v2\/comments?post=2379388"}],"version-history":[{"count":1,"href":"https:\/\/monetizemail.com\/magatoon\/wp-json\/wp\/v2\/posts\/2379388\/revisions"}],"predecessor-version":[{"id":2379389,"href":"https:\/\/monetizemail.com\/magatoon\/wp-json\/wp\/v2\/posts\/2379388\/revisions\/2379389"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/monetizemail.com\/magatoon\/wp-json\/wp\/v2\/media\/2379390"}],"wp:attachment":[{"href":"https:\/\/monetizemail.com\/magatoon\/wp-json\/wp\/v2\/media?parent=2379388"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/monetizemail.com\/magatoon\/wp-json\/wp\/v2\/categories?post=2379388"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/monetizemail.com\/magatoon\/wp-json\/wp\/v2\/tags?post=2379388"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}