On top of that, U.S. Treasury Secretary Timothy Geithner recently suggested we simply eliminate the debt ceiling altogether and launch America into INFINITE debt.
This program of fiscal suicide is already under way. The Federal Reserve announced a few weeks ago that it would begin buying up to $80 billion a month in U.S. debt, continuing indefinitely.
At the same time all this is going on, the government insists it needs to confiscate an ever-expanding portion of your income in order to increase "government revenue." Current federal tax "revenues" (which is a warped word to use for taxes in the first place) are at roughly $2.4 trillion a year.
But hold on just a second... and here's the IQ test, are you ready?
If the Federal Reserve can just create trillions of dollars a year in new money and hand it over to the federal government, then why are tax revenues needed at all?
Answer: They aren't.
If debt doesn't matter, then taxes aren't needed at all
Under the current system of unlimited spending, unlimited money creation and unlimited debt that "doesn't matter" according to the bureaucrats in Washington, there is absolutely no reason why any so-called "revenue" needs to be collected from the working class population whatsoever. "Revenue" only matters if debt matters, and we've been told by everybody in Washington (except Ron Paul) that debt doesn't matter.
Logically, then, we need no income tax at all. The President could simply announce the elimination of all federal taxes and the closure of the IRS, then have the Fed print up the money it needs. No more income taxes... ever! Imagine the savings in paperwork reduction alone...
This instant creation of money by the feds is not only possible, it has already been done. Remember the "too big to fail" bankster bailouts that began in 2008? Bailout totals have exceeded $2 trillion. Do you know where that money came from? The Fed created it out of thin air. They can do this any time they wish, of course. It takes about sixty seconds and a single computer entry at the Fed, matched by an inverse entry at the U.S. Treasury. In mere seconds, whammo! Another couple of trillion dollars (and debt) is magically created.
The real purpose of the income tax? To oppress the economic mobility of the little people
If the income tax is not mathematically needed to provide revenue to the federal government, what is its real purpose?
As anyone who has deeply studied the social impact of the tax code well knows, the true purpose of the tax code is social engineering. And more specifically, to oppress wage earners and small business owners for the purpose of making sure they can never save enough money to stop working.
The United States of America is, after all, a "tax farm," meaning the productivity of the working people is harvested by the government to be used for whatever nefarious schemes the corrupt bureaucrats have in mind: Endless wars, creating economic dependence through welfare, giving money to their crony insider crooks, and so on.
Besides, the last thing the elitists want is competition from upwardly mobile citizens who mistakenly think they can rise above their economic class and compete with the global elite. "The power to tax is the power to destroy," Daniel Webster famously said in an 1819 U.S. Supreme Court case. Chief Justice Marshall agreed: "That the power to tax involves the power to destroy... [is] not to be denied."
And that's the point of the income tax: To destroy the ambitions of the working class and keep them enslaved in a system of economic servitude that is mathematically designed to ensure permanent subjugation to the system.
It has absolutely nothing whatsoever to do with creating "revenue" or raising money to build roads and schools. That is a total delusion played off by both Republicans and Democrats to prevent people from realizing the far more powerful truth that federal income taxes aren't necessary at all.
So the next time you hear someone say we need to pay more taxes to "raise revenue" for the federal government, you can confidently laugh in their face at the absurdity of the statement. The federal government can create all the revenue it wishes through an instant computer entry. The point of the income tax is to make sure you never escape the Matrix of economic enslavement.