Taxation

World War II was . . . responsible for considerable changes in the U.S. federal income tax. Not only were rates increased, but the base was extended to cover most of the working population. Even as late as 1939, only 6 percent of U.S. citizens had to file an income tax return; by 1945 this had increased to over 70 percent . . . By 1945 the major features of the current federal tax system were in place.

Printing money is merely taxation in another form. Rather than robbing citizens of their money, government robs their money of its purchasing power.

We contend that for a nation to try to tax itself into prosperity is like a man standing in a bucket and trying to lift himself up by the handle.