Loading ...Why is nobody talking about that??? Story below describes how the USA was the bastion of self protectionism until 1913, after which the foreigners got control and created the “Income Tax” to fund the gov’t. Won independence 1776 lost independence 1913. This is simple stuff.
Tariffs in United States history.
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The tariff history of the United States spans from colonial times to present. The first tariff law passed by the U.S. Congress, acting under the then recently ratified Constitution, was the Tariff of 1789. Its purpose was to generate revenue for the federal government (to run the government and to pay the interest on its debt), and also to act as a protective barrier around domestic industries.[1] An Import tax was collected by treasury agents before goods could be landed at U.S. ports.
Tariffs have historically served a key role in the nation’s foreign trade policy. They were the greatest (approaching 95% at times) source of federal revenue until the
>>>Federal income tax began after 1913<<<<. For well over a century the federal government was largely financed by tariffs averaging about 20% on foreign imports.
Tariffs were the main source of revenue for the federal government from 1789 to 1914. During this period, there was vigorous debate between the various political parties over the setting of tariff rates. In general Democrats favored a tariff that would pay the cost of government, but no higher. Whigs and Republicans favored higher tariffs to protect and encourage American industry and industrial workers. Since the early 20th century, however, U.S. tariffs have been very low and have been much less a matter of partisan debate.
https://en.wikipedia.org/wiki/Tariffs_in_United_States_history