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Dear Monetary Reform members,
1. PBottiss
says that the present monetary sytem (and its domination of government by
private interests) started in 1913/14. I do not want to get too
involved in what is a matter of history but I thought members would like
to know that the belief among British monetary reformers is generally that the
UK beats the Yanks on this -- we claim that the basic sell-out was in 1694 when,
in effect, King William III sold the government's right to issue money to the
private banking system.
2. As I understand it, the Bottis
proposal is for a general transactions tax on the movement of money -- those who
move more money about pay more transactions tax.
My feeling is that the tax would
be a very valuable, simple addition to the taxation armoury and it
would catch many people and corporations which pay little or nothing at
present.
However, any one tax tends to
have anomalies and pros and cons so I prefer to think of the transactions tax as
probably requiring some other taxes as well although, admittedly, the
bottis proposal (using computers and electronic systems) is a very simple
one.
Three other
points:-
1) Does
pbottis know of the work of Lowell Manning (New Zealand) on this?
2) We should remember that
taxation is but taxation and the key issues -- to ensure that all people are
substantially economically productive; to properly balance supply and demand; to
lessen the rich-poor gaps etc etc -- will still remain
3) The bottis proposal does go
further than usual taxation in that it would tax banks on their creation of
money. But this is still to leave most of the money creation in the hands
of the banks. Presumably the banks would just raise their interest
rates. Am I right on this?
Why not have state-created interest-free
loans for wide capital ownership (such money being administered, but not
created, by the banking system)?
Rodney Shakespeare.
----- Original Message -----
Sent: Sunday, October 13, 2002 2:18
AM
Subject: Re: MONETARY: Discussing the
unjust monopoly
The first thing to point out is that the present monetary
system has led to the domination of the government by private for profit
interests. It started in 1913 and 1914 with the passage of the Federal Reserve
Act and the 16th
Amendment to the Constitution. The control of the money
supply must be returned to the Congress who delegated away their
constitutional responsibilities. To achieve this the IRS Tax Code (26 USC)
should be replaced by a fair and equitable tax that will derive revenues from
the top down instead of burdening the middle class taxpayers. There is such a
proposal that taxes the creation and the movement of money. It is found on the
URL A TAX FOR THE TWENTY FIRST
CENTURY
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