My theory: Indeed, if we just cut income tax instantly, the reaction by corporations, the stock market and real estate would be so sharp it would lock up the entire system. Basically we have to first reverse quantitative easing, and then we shrink interest to almost nothing. Writing interest off on a American car gives an example; send the bill to the IRS instead. It's the Fed's bad money and interest, its their bonds they bought that artificially stimulated the economy, so they can eat their lunch. It also results in sort of a tariff against the Fed. Then you start reducing income tax liability and then position the country to be lifted from it. The death of the income tax is the end of the Fed.
Unfortunately we the people are the ones who create money, so in order to get it back, we have to starve the root instead of cutting it all the way out.
My theory: Indeed, if we just cut income tax instantly, the reaction by corporations, the stock market and real estate would be so sharp it would lock up the entire system. Basically we have to first reverse quantitative easing, and then we shrink interest to almost nothing. Writing interest off on a American car gives an example; send the bill to the IRS instead. It's the Fed's bad money and interest, its their bonds they bought that artificially stimulated the economy, so they can eat their lunch. It also results in sort of a tariff against the Fed. Then you start reducing income tax liability and then position the country to be lifted from it. The death of the income tax is the end of the Fed.
Unfortunately we the people are the ones who create money, so in order to get it back, we have to starve the root instead of cutting it all the way out.