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re: Why are there Federal Taxes AT ALL? In ANY form? The Fed Gov would be fine without them!

Posted on 1/20/23 at 3:33 pm to
Posted by Brierfield
Member since Oct 2017
19 posts
Posted on 1/20/23 at 3:33 pm to
In a 1945 speech before the American Bar Association, New York Federal Reserve bank chairman Beardsley Ruml plainly stated, "Taxes for revenue are obsolete."

His point was that a sovereign currency issuer no longer requires taxes for spending purposes.

link to his speech

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