TAXES FOR REVENUE ARE OBSOLETE

01/01/1946

Check out an article written in 1946 by Beardsley Ruml, Chairman of the Federal Reserve Bank of New York, in the American Affairs Journal (see page 35).  There are several other interesting articles illustrating some of the movers and shakers of 1946. 

His thesis is that given (1) control of a central banking system and (2) an inconvertible currency, sovereign national government is finally free of money worries and need no longer levy taxes for the purpose of providing itself with revenue.  The latter end of his paper is devoted to an argument against taxing corporation profits.

http://mises.org/journals/aa/AA1946_VIII_1.pdf