the senate before direct election served as a check on federal power and the implementation of income tax and prohibition massively increased federal power. these were massive mistakes from which freedom never recovered FDR's soft coup couldn't have been done without them either.
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Replying to @DenverGregg @1renist
The senate before direction election wasn't supposed to be a check on federal power - it was supposed to be a body where co-sovereigns negotiated on equal terms - the Senate was dead from Lincoln's time Income tax is the same thing
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Income tax is just the fedgov taxing its subjects as it always has - it used to have the States as its subjects but those got eliminated in the Civil War Fiat money was an actual change by FDR that mattered - fedgov now owns everything that can be bought with dollars
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Replying to @CovfefeAnon @1renist
income tax was a big change to the old system of tariffs and excise taxes because it made federal revenue both much more predictable and much larger. Longterm federal financial commitments require those factors
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Replying to @DenverGregg @1renist
Preceding the income tax the feds could tax imports and the states because those were in their agreed-upon sphere Post Civil War fedgov's agreed-upon sphere was that it was the government of all the citizens of the country. It's inevitable that tax power is part of that
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BUT with fiat money the only reason fedgov even needs to charge taxes is to give citizens a reason to conduct business in dollars (need dollars to pay taxes in dollars)
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Replying to @CovfefeAnon @1renist
. . . and to mandate record-keeping and reporting
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Replying to @DenverGregg @1renist
Yep, there are all sorts of benefits to having leverage on potential rivals but the biggest one is to ensure that the thing they can print at will has value - USG can buy literally anything it wants as long as the seller accepts dollars USG owns the means of production
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Replying to @CovfefeAnon @1renist
that's the carrot. they've used the carrot quite a bit. seems to me that the stick is going to be more prevalent in years ahead.
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Replying to @DenverGregg @1renist
In practice there's no difference Your venture has USG support? Looks like all kinds of things go your way because everyone with a line on freshly minted USD will give you money It doesn't? Everyone is terrified to do business with you b/c of fear of getting cut off
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This is why Silicon Valley is so insanely leftist - they or their funders saw what happened in the financial crisis - banks that backed the Ds got bailed out, banks that backed Rs didn't All kinds of sweet contracts for the firms with the right politics
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Replying to @CovfefeAnon @1renist
. . . and all kinds of legal expense for the rest
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Replying to @DenverGregg @1renist
Oh yeah, 100% It's impossible to run a business successfully and comply with USG rules because USG rules assume an alternate reality As long as you keep them happy, they'll overlook your violations
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