Constitution. Its a recurring theme of political debate across the centuries. Its a recurring theme. The very wealthy should pay a fair share. Corporations should pay a fair share. I hope they dont raise your taxes, but if they do, i told you so. Its the one issue Href='https://vimarsana.com/news/people-today'>People Today could have a conversation with people in the colonial era and see philosophical currents flowing all the way tHrough. To understand Href='https://vimarsana.com/news/american-history'>American History is too. [inaudible] hello im bret baer. My latest Href='https://vimarsana.com/news/fox-nation-project'>Fox Nation Project is the second in our series of unauthorized histories. This time a new Href='https://vimarsana.com/news/fivepart-documentary'>Fivepart Documentary that explores how taxes have shaped america from the Href='https://vimarsana.com/news/boston-tea'>Boston Tea partyam to today. Our story is an Href='https://vimarsana.com/news/epic-tale'>Epic Tale about money, power and ultimately your basic freedom, rights and obligations. We begin, long before the Href='https://vimarsana.com/news/american-revolution'>American Revolution on a Href='https://vimarsana.com/news/june-day'>June Day in an open field 20 miles outside the Href='https://vimarsana.com/news/city-of-london'>City Of London in the year 1215. The Href='https://vimarsana.com/news/magna-carta'>Magna Carta is regarded as one of the most consequential documents in history. It eventually set the stage for americas own revolution. While Href='https://vimarsana.com/news/it-signing'>It Signing is one of the most important events in the march for democracy and individual rights, it is also the direct result of Href='https://vimarsana.com/news/attacks-revolt'>Attacks Revolt. The background of the Href='https://vimarsana.com/news/magna-carta'>Magna Carta is king john, king of england, we all know the Href='https://vimarsana.com/news/disney-robin-robin'>Disney Robin Robin hood series. He was actually very much a Href='https://vimarsana.com/news/tax-andax'>Tax Andax spend figure. He was waging a series of wars, mostly on the continent that was starting to drain the treasury and really tax the noblemen that were around him. He basically made him a signature to this charter guaranteed certain rights to his nobility. Basically what it said about taxes is taxes could nott be assessed without the consent of the government and theyre talking about nobility but its a big part of the english constitution. It eventually trickles down into a broader doctrine of consenter. For most of the colonial. America was a tax haven. They were actually lower than in the home country. So often tHrough history the cost of waging war change the tax system. 1776. [inaudible] after that england is in huge rydebt. So when in the 1760s, britain started taxing the colonists. They wanted to know. Their 17th century rights, wheres our representation in parliament. It didnt exist and the Href='https://vimarsana.com/news/problem-wasnt'>Problem Wasnt solved so the Href='https://vimarsana.com/news/american-revolution'>American Revolution is underway. The americans rebel against the new taxes and like the barons who revolted against king john, the Href='https://vimarsana.com/news/colonists-complaint'>Colonists Complaint was not just that the new taxes were too high. The founders embraced the concept that rights are godgiven and perceived the founding of the state. Government is created by the people, not vice versa. In their view, governments full purpose is to help secure the rights of its citizens which include property rights. The american view of texas close directly from life, Href='https://vimarsana.com/news/liberty-and-the-pursuit-of-happiness'>Liberty And The Pursuit Of Happiness. They are an infringement on your liberty, taking Href='https://vimarsana.com/news/something-y'>Something Y from you and they diminish your pursuit of happiness. You dont have as i much money i might be stopping you from doing things would really like to do because there now too expensive. If you believe you areth endowed with life, Href='https://vimarsana.com/news/liberty-and-the-pursuit-of-happiness'>Liberty And The Pursuit Of Happiness you get all prickly when it doesnt look right. Thats a very different view of the universe and saying all right, first and foremost is the king and the king decide what the king needs and you get whats left over. For a nation founded on Href='https://vimarsana.com/news/attacks-revolt'>Attacks Revolt against the british government, it was perhaps surprising that american soon found themselves at odds with their own government. Once again the Href='https://vimarsana.com/news/bone-of-contention'>Bone Of Contention was taxes. What happened when they met together in philadelphia to ysrevise the articles and it turns into basically a complete overhaul for the constitutional system. They establish a power of congress to assess what they call Href='https://vimarsana.com/news/exercises-imposts'>Exercises Imposts and duties on the public. Duties on the public. One of the whiskey. If you are one of my forefathers hanging out in Href='https://vimarsana.com/news/western-pennsylvania'>Western Pennsylvania which was really the frontier of that time, this was someone in washington saying you have to pay tax and it didnt feel like what they had fought for which was everybody gets a say. Its like the king is coming back and that we have this tax. So, if you came into the area to beat a tax collector, you can have your Href='https://vimarsana.com/news/tax-office'>Tax Office vandalized and one of the worst things that could happen to you is you could be Href='https://vimarsana.com/news/tarred-andas'>Tarred Andas feathered it took george washington himself to quell thech rebels. The commanderinchief actually serves as the commanderinchief and rides out with his army. 12950 soldiers came to this area. Thats a larger force then washington had ever commanded in the revolutionary war. Its eventually diffused and washington does issue pardons to the tax rebels. That basically sets the rebellion at ease, at least for a short time. As you will learn on my Href='https://vimarsana.com/news/series-and-fox'>Series And Fox nation, Href='https://vimarsana.com/news/tax-resistance-takesde'>Tax Resistance Takesde many forms and the violence unleashed in the revolution and the Href='https://vimarsana.com/news/whiskey-rebellion'>Whiskey Rebellion is just one way americans demonstrated their attitudey toward taxes. Up next, how taxes tHreaten the union decades before the Href='https://vimarsana.com/news/civil-war'>Civil War. In a story about fort sumner, you probably havent heard freedom of speech is under attack as other outlets are sHrinking we are expanding in speaking freely. We will not be silenced or canceled. Thats why were launching Href='https://vimarsana.com/news/tucker-tollefson-today'>Tucker Tollefson Today exclusively on Href='https://vimarsana.com/news/fox-nation'>Fox Nation every Href='https://vimarsana.com/news/monday-wednesday-friday'>Monday Wednesday Friday we have indepthe we are taking a deeper dive into the most vital conversations. We will be on about and unafraid. All commercial free. Watch it today exclusively on Href='https://vimarsana.com/news/fox-nation'>Fox Nation. And screaming now, if youre going to accuse people of racism andi you better put up some facts. Piers morgan sits down for the exclusive first interview limu Href='https://vimarsana.com/news/emu-doug-liberty'>Emu Doug Liberty mutual customizes your Href='https://vimarsana.com/news/car-insurance'>Car Insurance so you only pay for what you need. Thank you hey, hey, no, no limu, no limu only pay for what you need. Liberty. Liberty. Liberty. Liberty. 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At Href='https://vimarsana.com/news/fisher-investments'>Fisher Investments were clearly different. upbeat Href='https://vimarsana.com/news/music-welcome'>Music Welcome back to Href='https://vimarsana.com/news/fox-nation'>Fox Nation presents, the unauthorized history of taxes will Come Back tore Href='https://vimarsana.com/news/fox-nation'>Fox Nation presents the unauthorized history of taxes. Based on my fivepart series. Decades before the Href='https://vimarsana.com/news/civil-war'>Civil War, politicians from the Href='https://vimarsana.com/news/north-and-south'>North And South paste often a major crisis over taxes. It was sparked by a congressional game of chicken resulting in what was called the tariff of Href='https://vimarsana.com/news/abominations-america'>Abominations America in the early 1800s was the center for foreign trade especially for foreign goods. They bustled with textiles, spices and iron. Some goods entering the country were subject to attacks called tariff. From the beginning tariffs were viewed as benefiting the industrialized north at the expense of the agrarian south. Factory owners were able to raise the price of their goods well southern farmers paid more for items they purchased from overseas or from the north. It was a growing source of tension and in 182817 politician got a little too clever and tariff politics took a new and harmful term. The bill he introduced was so ghastly that it quickly earned the name the tariffs of abominations. A Href='https://vimarsana.com/news/tariff-bill'>Tariff Bill was introduced that was skyhigh. The guy who introduces it in the senate is Href='https://vimarsana.com/news/john-c'>John C calhoun, a total opponent of tariffs. Why did he do this. Calhoun thanks hes going to pull a Href='https://vimarsana.com/news/fast-one'>Fast One on the pro tariff people. He is going to introduce a tariff big, so huge, even the north will vote against it and it backfires because the northerners go its really high butdi okay, its a tariff, will vote for it. All sudden companies going what, no youre supposed to vote against it. It provokes an immediate political backlash that isut actually nationwide. Actually nationwide. It comes focused in the carolina. They said were not going to collect duties or enforce it. Calhoun is talking about insurrection and Href='https://vimarsana.com/news/civil-war'>Civil War, 1830. He gets the state of Href='https://vimarsana.com/news/south-carolina'>South Carolina to pass a resolution declaring that they nullifysi the tariff of abominations on the federal Href='https://vimarsana.com/news/level-andt'>Level Andt theyre going to refuse to enforce it. The next thing you know you have a constitutional crisis. South carolina. [inaudible] it was in the 1830s, just tariff. It was a huge issue and it tears countries apart. Andrew jackson says we need the federal government to suppress this just like signing against the Href='https://vimarsana.com/news/whiskey-rebellion'>Whiskey Rebellion and then Href='https://vimarsana.com/news/south-carolina'>South Carolina withdrawals. With the crisis averted, warning to southerners. He ordered that Href='https://vimarsana.com/news/construction-plans'>Construction Plans for a new Href='https://vimarsana.com/news/military-installation'>Military Installation in charleston harbor, they upgraded from timber to brick. Reading what would become one of the strongest fortresses of the era fort sumter. Without any question it was built in the mid 1830s by the federal government to prevent Href='https://vimarsana.com/news/south-carolina'>South Carolina from nullifying federal laws, in particular the tariff in 1842. That Href='https://vimarsana.com/news/signal-couldntam'>Signal Couldntam of been more clear to south carolinians. Abrahams Href='https://vimarsana.com/news/lincoln-campaign'>Lincoln Campaign for the Href='https://vimarsana.com/news/white-house'>White House brought the economic divide between the Href='https://vimarsana.com/news/north-and-south'>North And South front and center. My politics are short and sweet. The old womans dance. I am in favor of a national bank, in favor of the internal improvement system and a high protective tariff. Abraham lincoln 1832. While Href='https://vimarsana.com/news/south-carolina'>South Carolina is agitating for succession in agitating for succession in some of the states are joining, the tariff forces realize they havean an opportunity to pass a new Href='https://vimarsana.com/news/tax-bill'>Tax Bill. The new Href='https://vimarsana.com/news/tax-bill'>Tax Bill was the handiwork of Href='https://vimarsana.com/news/representative-justin-smith'>Representative Justin Smith of vermont, former founder of one of the new republican party. They established a 45 tax on foreign manufactured goods in a 50 tariff on imported iron or raising the cost of just about everything manufactured in america at the time. The evidence we have from Href='https://vimarsana.com/news/succession-declarations'>Succession Declarations in the southern state, especially the original seven deeds of the state is that there seceding over the tHreat of slavery but at the same time the old issue of agitation had passed tHrough congress so they see this as a secondary come to very distant secondary issue but its like tHrowing gasoline on a raging fire. Its just another point of cause southerners letters succeeding over what they perceived as a very real tHreat, slavery from Href='https://vimarsana.com/news/lincolns-presidency'>Lincolns Presidency say not only are they trying to takeu our slaves there trying to tax us to. Unfortunately it ripped the country apart and damaged the south and damaged the north. Add slavery to the mix and you have some work. You might as well have considerable work just on the tariff alone. It was that big of an issue. It likely wouldnt be surprised and rejection that the first shots of were fired at fort sumter. It controlled harbor of charleston, the most important eastport city. They tried to convince lincoln that a Href='https://vimarsana.com/news/military-response'>Military Response was not worth the risk of escalating hostility but he replied with their 10 tariff, what then would become of my tariff. Abraham lincoln 1861. The cartoon from the. Summarize the situation. Uncle sam is using a squadron of Href='https://vimarsana.com/news/sailing-ships'>Sailing Ships to the south to enforce the blockade. Helping uncle sam, taxes, more taxesea and tariffs. One surprising thing i learned during the series of the deep relationship between federal taxation. From prohibition to the roaring 20s, alcohol and taxes are intertwined sitHroughout her history. We will look at that after the break. Freedom of speech is under attack. We always find a way to persevere. We use conservative to have ultimate faith in people. This is bethlehem, the birthplace of jesus. Give it to god, he is doing this for a reason. This is about veterans as they see themselves. This is one sick person. There is a way to find justice. Absolutely beautiful. And it all leads to this. At home with me colliding. Do we have a history . And we should learn from the history. I think the best way you can thank me for being a veteran is to be a good american. [man] indistinct tear down this war. The lexus es, now available with Href='https://vimarsana.com/news/allwheel-drive'>Allwheel Drive. This rain is bananas. Lease the 2021 Href='https://vimarsana.com/news/es-250'>Es 250 Href='https://vimarsana.com/news/allwheel-drive'>Allwheel Drive for 339 a month for 39 months. Experience amazing at your lexus dealer. Welcome to Href='https://vimarsana.com/news/fox-news'>Fox News live. The u. S. Economy has an extended period of growth in hiring. The Href='https://vimarsana.com/news/fed-chief'>Fed Chief also told cbs 60 minutes that he doesnt see the fed raising the benchmark Href='https://vimarsana.com/news/interest-rate'>Interest Rate and downplayed the risk of higher Href='https://vimarsana.com/news/inflation-due'>Inflation Due to increased government spending. He did caution the coronavirus still poses some risk. Japan golfer overcame tHree bogeys to win the Href='https://vimarsana.com/news/masters-golf-tournament'>Masters Golf Tournament hes the first japanese to win the green jacket. He was one over par for the day but that followed the stunning seven under par 65. The 29yearold says hes excited for the next challenge. Now back to the unauthorized history of taxes. For all your headlines log on to foxnews. Com. Enjoy your night. Returning to Href='https://vimarsana.com/news/fox-nation'>Fox Nation presents the unauthorized history of taxes. The internal Href='https://vimarsana.com/news/revenue-bureau'>Revenue Bureau founded during the Href='https://vimarsana.com/news/civil-war'>Civil War to collect the Href='https://vimarsana.com/news/income-tax'>Income Tax returning to Href='https://vimarsana.com/news/fox-nation'>Fox Nation presents, the unauthorized history of taxes, the internal Href='https://vimarsana.com/news/revenue-bureau'>Revenue Bureau founded during the Href='https://vimarsana.com/news/civil-war'>Civil War to collect the Href='https://vimarsana.com/news/income-tax'>Income Tax soon found a new target for it supports the efforts, Href='https://vimarsana.com/news/moonshine-whiskey'>Moonshine Whiskey and the men and women who made it. Within months of the southern surrender, a new rebellion began in the south. Like the Href='https://vimarsana.com/news/firstey-whiskey'>Firstey Whiskey valiant, this one plated federal tax authorities against moonshiners because theyhe operated their stills at Href='https://vimarsana.com/news/night-toin-avoid'>Night Toin Avoid detection. Unlike the earlier Href='https://vimarsana.com/news/whiskey-rebellion'>Whiskey Rebellion, this one lasted for years helping shape the practices and methods of the institution that would later become the irs. It quickly turned into paramilitary operation using deadly force against american citizens in order to collect federal taxes. Back. In the midst of two sort of hundred years long development. The first is the evolution of the economy from a gregorian economy to one that is. [inaudible] we went from up Href='https://vimarsana.com/news/primitive-economyon'>Primitive Economyon that didnt order, transactions with whiskey, to a generalized modern economy. That makes professionals monitoring the money for levity purposes much easier and fled straight into the idea that you should have a professional Href='https://vimarsana.com/news/revenue-service'>Revenue Service doing this with modern tools and a high degree of professionals. That was the idea. To make Href='https://vimarsana.com/news/tax-collection'>Tax Collection more professional would require a major change in how the internal Href='https://vimarsana.com/news/revenue-bureau'>Revenue Bureau was staffed. Part of the larger evolution in the Href='https://vimarsana.com/news/way-government-bureaucracy'>Way Government Bureaucracy operates with farreaching implications. Ever since the rise of the twopartyle system, winning candidates would hand out jobs to supporters. It was called with spoiled system. By 1880, the Href='https://vimarsana.com/news/spoils-system'>Spoils System had grown so large and corrupt builders called out for reform electing a candidate who promised change. James garfield is elected specifically to deal with the Href='https://vimarsana.com/news/spoils-system'>Spoils System and he comes into office and hes viewed as a reformer and then one of the jobseekers who didnt get a job killed him. Garfields assassin was the Href='https://vimarsana.com/news/deranged-charles'>Deranged Charles who somehow believed Href='https://vimarsana.com/news/chester-arthur'>Chester Arthur would preserve the Href='https://vimarsana.com/news/spoils-system'>Spoils System. Chester arthur is now president. The idea is that Href='https://vimarsana.com/news/chester-arthur'>Chester Arthur was at commissioner from new Href='https://vimarsana.com/news/york-city'>York City and it was thought he favored the Href='https://vimarsana.com/news/spoils-system'>Spoils System that hes a Href='https://vimarsana.com/news/stall-wart'>Stall Wart as they used to say. But arthur ended up surprising his fellowle stalwarts. He saidla you know what, we have to fix the system so he lends his support to something that becomes law in 1887 after hes out of office called the Href='https://vimarsana.com/news/pendleton-act'>Pendleton Act which is the pendleton civil Href='https://vimarsana.com/news/service-reform-act'>Service Reform Act and what that does is places many, many thousands of these jobs into a testing position. To get a job to go into the Href='https://vimarsana.com/news/civile-service'>Civile Service you have to take a civil service exam. That drastically cut down Href='https://vimarsana.com/news/thegh-number'>Thegh Number of jobs that a single president could give away. Good, right . No. I liken it to the Href='https://vimarsana.com/news/horror-movies'>Horror Movies for the creatures growing behind booktv drown the phone and behind her is this growing and youre saying turn around or its going to kill you, its going to eat you. The government is growing with every Href='https://vimarsana.com/news/election-and-nobody'>Election And Nobody notices and it greatly increases the Href='https://vimarsana.com/news/size-and-scope'>Size And Scope of the federal government. Today Href='https://vimarsana.com/news/chester-arthur'>Chester Arthur is remembered mostly, if at all, for his expansive waistband, and impressive sideburns. You can learn more about his surprisingly important legacy ho nation special. America is streamingbr with Href='https://vimarsana.com/news/fox-nation'>Fox Nation the Href='https://vimarsana.com/news/streaming-service'>Streaming Service that features original shows celebrate your Href='https://vimarsana.com/news/faith-withfe-fox'>Faith Withfe Fox religion live to our countrys most pivotal moments with fox history. They take you on a journey for food, home, travel, leisure explore the policy and the faith that explore our great nation and investigate Href='https://vimarsana.com/news/crime-stories'>Crime Stories with Href='https://vimarsana.com/news/fox-justice'>Fox Justice all available on your tv, computer, Href='https://vimarsana.com/news/tablet-ands-smartphone'>Tablet Ands Smartphone Href='https://vimarsana.com/news/fox-nation'>Fox Nation america is streaming. I am back at the border in. A special twopart episode. Im taking you to the front line. In a firsthand look at how secure our borders truly are. With exclusive footage you can only get on Href='https://vimarsana.com/news/fox-nation'>Fox Nation. I take a trip back to the border, coming soon to Href='https://vimarsana.com/news/fox-nation'>Fox Nation id call my grandfather as a result of the research that ive started to do on ancestry. 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Tell your doctor if you have Href='https://vimarsana.com/news/pain-or-swelling'>Pain Or Swelling in your arms or legs, shortness of breath, Href='https://vimarsana.com/news/chest-pain'>Chest Pain and rapid Href='https://vimarsana.com/news/breathing-or-heart'>Breathing Or Heart rate, or if you are pregnant or nursing. Every day matters. And i want more of them. Ask your doctor about everyday verzenio. upbeat Href='https://vimarsana.com/news/music-welcome'>Music Welcome back, the bill comes due every year, the Href='https://vimarsana.com/news/income-tax'>Income Tax. WelCome Back. The bill comes due every year, the Href='https://vimarsana.com/news/income-tax'>Income Tax. When it first passed back in 1913, it wasnt supposed to be that big of a deal but you know how that goes. As a new century, american businesses were getting bigger. Income disparities grew, even as the nation as a whole got richer politicians and populace demanded that the federal Href='https://vimarsana.com/news/government-tax'>Government Tax the rich, get them to pay their fair share. The goal, greater economic equality by redistributing Href='https://vimarsana.com/news/income-and-wealth'>Income And Wealth the federal Href='https://vimarsana.com/news/income-tax'>Income Tax originates in 1909. Its ratified four years later and initially this is not a big deal. Were operating in a time when the federal government only tries to raise the amount of revenue it needs to sustain its current operations, but a] major event happens the call to arms. The feds volunteered. The united states enters very late into Href='https://vimarsana.com/news/world-war'>World War i but a it suddenly creates a new Href='https://vimarsana.com/news/revenue-demand'>Revenue Demand on the federal government. They look around and say wait a minute, we have this new text are that was passed in 1913 for the constitutional amendment to create the Href='https://vimarsana.com/news/income-tax'>Income Tax. So they raise taxes on the low bracket from half a percent to 25 , foreign half times bigger than what was previously on the highest bracket. From the highest bracket goes from 6 to 75 . Literally, the richest americans are going to be taxed at tHree quarters of their income. Wilson even proposes 100 tax on everything over 500,000 and they say no, thats a little too far, were not ready to go that far yet. Today they might up back then, that was a little far to go. War ended in November 1918 but the Href='https://vimarsana.com/news/income-tax'>Income Tax continued. Now, with the permanent professional bureaucracy in place, and Href='https://vimarsana.com/news/enforcement-arm'>Enforcement Arm with military power, government would expand, taxes would grow to pay for it all. The Href='https://vimarsana.com/news/income-tax'>Income Tax proved surprisingly effective and while some resisted, there was no great outcry or rebellion. The Href='https://vimarsana.com/news/police-power'>Police Power of the provided the state with almost unlimited abilities to harass and enforce. We interrupt this program to bring u. S. Special news policy. Take them out to washington. In Href='https://vimarsana.com/news/world-war'>World War ii, aware now that the Href='https://vimarsana.com/news/income-tax'>Income Tax was a mighty engine, the federal government decided to use that. World war ii had a huge impact on the tax system. Before Href='https://vimarsana.com/news/world-war'>World War ii, not that many people, americans, actually qualified to pay Href='https://vimarsana.com/news/income-tax'>Income Taxes and they did so on an annual basis. As late as 1939, only 4 Million americans filed Href='https://vimarsana.com/news/income-tax'>Income Tax returns, but as the work continued, some 50 Million americans join the tax rolls. The Href='https://vimarsana.com/news/treasury-department'>Treasury Department turned to an unlikely spokesperson to sell the american people on the idea that dropping that the idea that dropping that check in the mail was patriotic duty. Yes, there is a new spirit in america, your country needs you. Are you a patriotic american, eager to do your part, thent theres something important you can do can i tell you what it is, your Href='https://vimarsana.com/news/income-tax'>Income Tax, yes your Href='https://vimarsana.com/news/income-tax'>Income Tax it may not seem important to you, but it is important and a tier privilege, not just her duty, but your privilege to help your government by paying your taxes and paying it practically. Whats the big hurry . Your country is at war in wartime it often changes the Href='https://vimarsana.com/news/size-and-scope'>Size And Scope of government and at the Href='https://vimarsana.com/news/f-end'>F End of the day two things are true. Government always comes out of Href='https://vimarsana.com/news/war-and-crisis'>War And Crisis larger and taxes inevitably go up to pay for it. Some marginal Href='https://vimarsana.com/news/tax-rate'>Tax Rates exceeded 90 in the 1950s although lawyers and loopholes kept almost everyone from paying those taxes. A young democratic president john f. Kennedy soon promised a revolution grounded on the idea of Href='https://vimarsana.com/news/tax-cut'>Tax Cuts and idea that Href='https://vimarsana.com/news/ronald-reagan'>Ronald Reagan would also embrace. That story is coming up next. D. It also turns into an air fryer. Bring outdoor grilling flavors indoors with the grill that grills for you. 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In our Href='https://vimarsana.com/news/fox-nation'>Fox Nation series, we keep coming back to the idea that when it comes to taxes, incentives matter, in our foxht nation series, we keep coming back to the idea that when it comes to taxes, incentivese matter. That was the central insight of the group of figures who led what would be called the Href='https://vimarsana.com/news/supplyside-revolution'>Supplyside Revolution in the 1980s. A story that starts in the 1960s. As the 1960s began, high taxes seem a permanent fixture in Href='https://vimarsana.com/news/america-but-president'>America But President john f. Kennedy had a radical idea that would spark a revolution in tax policy. For kennedy, that idea originated from someone very close to him. I would say one of the main People Kennedy got it from was his father. His father deeply understood the importance of not overtaxing work. Emso Href='https://vimarsana.com/news/kennedys-view'>Kennedys View was that if you actually think you have a revenue problem, the best way to achieve more revenue is to lower the cost of work in the first place connect the young president outlined his Href='https://vimarsana.com/news/tax-plan'>Tax Plan at the new york economic club in december of 1962. Looking to cut business and personal taxes with the promise that revenue would go up, not down. Its a paradoxical truth that Href='https://vimarsana.com/news/tax-rate'>Tax Rates are too high today and theyre too low. As kennedy had predicted, the economy boomed. It gave us economic growth. [inaudible] it had been cheaper under Href='https://vimarsana.com/news/eisenhower-print'>Eisenhower Print the memory that this is the greatest era was occasioned by the kennedy Href='https://vimarsana.com/news/tax-cut'>Tax Cuts along with economic growth came expansion of government spending. The war in vietnam claimed the federal Href='https://vimarsana.com/news/treasury-and-lyndon'>Treasury And Lyndon johnsons ambitious social agenda would require a huge commitment of federal funds. He called it the Great Society. What was the Great Society . It was an ambitious program. It wasnt called The Good Society was called the ambitious listow society. Wet] raised taxes and everything slowed down. Government spending spiraled upward. The lessons of Thec Kennedy Href='https://vimarsana.com/news/tax-cut'>Tax Cut were seemingly forgotten at least in washington. It was a toxic economics to that came to be called Href='https://vimarsana.com/news/stagflation-stagflation'>Stagflation Stagflation was a combination of very high unemployment and very high inflation and it just felt like america was the industrializing at that time. One approach to attacking stagflation was based on Re Learning the lessons of the kennedy Href='https://vimarsana.com/news/tax-cut'>Tax Cuts. It came to be called supplyside economics. One key to the Href='https://vimarsana.com/news/supplyside-movement'>Supplyside Movement was ath simple chart, the vertical axis shows Href='https://vimarsana.com/news/tax-rate'>Tax Rates. The horizontal shows tax revenue. I became known as the laffer curve. All it is is a simple relationship between Tax Revenues and Href='https://vimarsana.com/news/tax-rate'>Tax Rates. For example if you tax at a zero Href='https://vimarsana.com/news/tax-rate'>Tax Rate,ll no matter how much people produce, how much will be no Tax Revenues. Likewise if you tax at hundred 10 of what someone earns so that every time they go to the office instead of getting a check to get a bill, sooner or later they will quit the office and they will have no Href='https://vimarsana.com/news/income-y'>Income Y even though you have high tax come you still get zero and what you can see is as you raisero the rate from zero on up, Href='https://vimarsana.com/news/revenues-increase'>Revenues Increase and they should lower from one 100 down, Href='https://vimarsana.com/news/revenues-increase'>Revenues Increase if you raise the price of the product so high that no one wants to buy it, youre going to lose money. If you have it so low that even though lots of people want to buy it youre making noth profit, youre going to go broke. Theres a proper place in there for the price, same is true for an economys Href='https://vimarsana.com/news/tax-rate'>Tax Rate. They thought we were nuts. They just thought we were nuts. Wait a minute, your lower taxes and theyre going to pay for themselves, how much, what. What im saying is this type of what f i Call A Voodoo economic policy it isnt going to work. Bob dole used to tell the joke about the fact that a busload of Supplies Ciders went over the cliff and not the good news. The Bad News is there were tHree empty seats. Thank you very much. By 1980, the Href='https://vimarsana.com/news/supplyside-argument'>Supplyside Argument for cuttinG Taxes had entered president ial politics. I have long advocated a 30 reduction in Href='https://vimarsana.com/news/income-tax'>Income Tax rate over a period of tHree years. Several months after taking office, President Reagan signed the Href='https://vimarsana.com/news/tax-bill'>Tax Bill. Almost 20 years after john f. Kennedy first proposed the idea. In 1986 he passed a second landmark Href='https://vimarsana.com/news/tax-bill'>Tax Bill. In a moment ill be picking up a pen and signing the most sweeping overhaul of Href='https://vimarsana.com/news/tax-code'>Tax Code in our nations history. You wouldve thought 1981 that five years later you could pass a Href='https://vimarsana.com/news/tax-bill'>Tax Bill that got rid of tax shelters, reduce the brackets down to two, had the top grade dropped to 28 , have it passed the senate 97293 and that statesmanship. President Biden Promises thet extensive Href='https://vimarsana.com/news/tax-reform'>Tax Reform in almost 30 years, along with a major increase in public spending. So who will pay for it . Thats next. Href='https://vimarsana.com/news/mom-vo'>Mom Vo we fit a lot of life into our subaru forester. dad its good to be back. mom it sure is. Href='https://vimarsana.com/news/mom-vo'>Mom Vo over the years, we trusted it to carry and protect the things that were most important to us. mom good boy. 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Href='https://vimarsana.com/news/money-manager'>Money Manager but you do sell investments that earn you high commissions, right . judith we dont have those. Href='https://vimarsana.com/news/money-manager'>Money Manager so whats in it for you . judith our fees are structured so we do better when our clients do better. At Href='https://vimarsana.com/news/fisher-investments'>Fisher Investments were clearly different. upbeat music in the 21st century, money is increasingly mobile, in the 21st century, money is increasingly mobile. Able to relocate from state to state or even country to country to avoid taxation. Thats a challenge for any government that wants to raise taxes, but is not new, just ask The Beatles or the rolling stones. There are rumors around that this is britains revenge on the Href='https://vimarsana.com/news/boston-tea'>Boston Tea party. Relocating to avoid taxes is, of course, as old as taxation itself. Individuals, businesses, and even Href='https://vimarsana.com/news/rock-n-roll'>Rock N Roll bands have moved operations just to get away from the taxman. In theds 1960s and 70s, britains high taxes were enough to drive some of their most successful fans like the rollingst stones to leave the country for more tax friendly places. The stones went to france to record exile on main street. Keith richards talked about taxation in the 1970s in england is the ultimate price of work. They thought we wouldnt leave, but ultimately we did. The top Href='https://vimarsana.com/news/tax-rate'>Tax Rate on income was 83 . The rate on capital gains, what they call unearned income was 98 . They looked at the 83 and 98 rates and they said theres no way we are going to work to give all of our production to someone else. They moved to the Href='https://vimarsana.com/news/south-of-france'>South Of France amid the greatest Href='https://vimarsana.com/news/album-theyve'>Album Theyve ever made, exile on main street. The same is at Href='https://vimarsana.com/news/work-today'>Work Today within the united states. I talked to people all day long who also lived here or in their Hudson Valley house. Teconomics aint rocket surgery. I say got a Come Back. When he, back, will go to dinner, ill buy you a drink, come over, ill cook. Theyre not coming back right now and you know what else, if i stay there the pay a lower Href='https://vimarsana.com/news/income-tax'>Income Tax. If you have two locations, amb, you raise taxes and be and you lower them in a, producers and manufacturers and people are going to move from to be to a. This is what happens with economics. I dont care whether your tall, short, male, female, old or young, thats economics. Incentives matter. Even socialists respond to them. I will raise taxes for anyone making over 400,000. Let me tell you why. Its about time they start paying their Href='https://vimarsana.com/news/fairv-share'>Fairv Share of the responsibility we have. Weve come to a Time In America where therehe is a lot of get even, a lot of desire on the part of people who dont think theyre particularly rich to get even with those people in silicon valley. How many of you did really well about 1. 9 trillion Href='https://vimarsana.com/news/tax-cut'>Tax Cut that increased, really good shape, really changed, will thats good. Im glad to see youre doing well already and guess what, if youre like me youre not gonna have your taxes. Gonna have your taxes. Theyre going to be cut. Na that notion is no longer disqualifying characteristic because its not going to affect me, its going to affect them. Biden was honest enough to say were not doing this to raise revenue. He wasnt talking about lowering the national debt when he did this. He saying that so we can pay for all of these progressive programs from the green new deal to other things that this is basically saying were going to raise taxes on this group so itag will affect change for people over here. Today the u. S. Government is running the highest deficits as a percentage of gdp since the second Href='https://vimarsana.com/news/world-war'>World War. Even before the pandemic, the deficit was nearly 1 trillion. Year and this year it will nearly quadruple to almost 4 trillion. I hope they dont raise your taxes, but if they do, i told yourself. Tax Href='https://vimarsana.com/news/evasion-and-tax'>Evasion And Tax avoidance is as old as the process of taxation itself. Its a condition of life that we have to live like. If You Overtax someone, theyre going to look for ways to getth around it. Theyre going to look for ways whether thats taking advantage of legal mechanisms that are in place work, as We Saw in some of the Href='https://vimarsana.com/news/european-countries'>European Countries that had a highly progressive taxation, all the wealthy people left and moved to other countries. We can do one of two things in assessing that situation. One we can pretend it doesnt exist and proceed with utopia, to weat can recognize that Human Beings do respond and they will tolerate a certain level of taxation as a necessary price to operate a government, the necessary price, but they will only tolerate it up to a point and the only tolerate it insofar as they perceive it as fair. Thats our program. I hope you are now ready to check out all five episodes of the unauthorized history of G Taxes on Href='https://vimarsana.com/news/fox-nation'>Fox Nation. There you can also stream other programs ive done including my first unauthorized history documentary series, and authorized history of socialism. From Href='https://vimarsana.com/news/fox-nation'>Fox Nation and Href='https://vimarsana.com/news/fox-news'>Fox News, im bret bear. Mark hello i am mark levine, this is life, liberty and levin. Lets talk turkey. About the man in oval office, Href='https://vimarsana.com/news/joe-biden'>Joe Biden, Href='https://vimarsana.com/news/joe-biden'>Joe Biden has been saying many hateful things about many people. Because they disagree with him, Href='https://vimarsana.com/news/joe-biden'>Joe Biden has been saying things that are flat out lies, he has been dishonest about the way he has approached his policies. This is par