By: Stacy Swimp
President Obama said his pick for the next head of the Federal Reserve would need to focus on both parts of the central bank’s dual mandate — keeping inflation in check and promoting maximum employment — while helping improve the lives of average Americans.
I would hope that, rather than the President appointing a new Federal Reserve Chair, that Congress would move to abolish the I.R.S.
“I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around(these banks) will deprive the people of all property until their children wake up homeless on the continent their fathers conquered.
The issuing power of currency shall be taken from the banks and restored to the people, to whom it properly belongs.”- Thomas Jefferson
The Federal Reserve Banking is contrary to the vision of the Founders of the United States of America, who knew that such a banking system would promote tyranny and economic deprivation.
Contrary to the narrative of the left, abolishing the I.R.S. and implementing a Flat Tax will NOT increase income inequality in the U.S. by lowering taxes on the wealthy and raising them on the poor and so called middle class.
Quite the contrary. Getting rid of the IRS and implementing a Flat Tax would be an important step toward solving the debt crisis.
That said, neither the President or most politicians, whether Republican or Democrat, have any real interest in solving the debt crisis. Hence, the President is indeed sure to appoint a new Federal Reserve Chairman to manage special interests and the failed social engineering of the I.R.S. rather than do what is in the best interest of the American people.