The Untold History of Taxes & War in America
Valuetainment
Valuetainment Episodes
4.8 • 1.7K Ratings
🗓️ 26 May 2021
⏱️ 16 minutes
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Summary
In this video Patrick Bet-David explains the history of taxes and war in America, how they are related, the timeline of events and the military impact on taxpayer dollars.
Watch the full video on the Valuetainment YouTube channel: https://youtu.be/r5orLeWcBqc
Transcript
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| 0:00.0 | You know, most of the time when we hear about taxes, we hear about Democrats' race taxes, |
| 0:03.5 | Republicans' lower taxes, but when you study the history of taxes in the U.S., |
| 0:07.8 | there's going to be many things today where you're going to say, you've got to be a kid of me, Pat, |
| 0:11.2 | who came up with the IRS. You're going to be blown away by who came up with the IRS. |
| 0:15.2 | The whole idea of holding your taxes when you get paid in your payroll, who came up with that idea? |
| 0:20.6 | Which president raised the national debt the most? Which president raised the percentage and |
| 0:24.7 | dollar amount? Then we're going to talk about the coalition between war and taxes and |
| 0:27.4 | widens. The U.S. have so many military bases around the world compared to Russia, China, |
| 0:32.4 | France, all of that stuff we're covering in today's episode. |
| 0:40.0 | All right, so stick around until the very end because I want to have my final thoughts on the |
| 0:42.5 | PDF for you. But let's get right into it. 1754 to 1763. During that time, the French Indian war |
| 0:48.8 | took place, which the bridge started tax and the colonists and the colonists said, wait a minute, |
| 0:52.9 | why are you raising taxes without asking us? How can we don't have any kind of representation? |
| 0:57.2 | That led to taxation without representation. American revolution began and the founders wanted |
| 1:02.3 | lower taxes and representation, which led to 1775 to 1783, the American Revolutionary War. |
| 1:09.1 | By the time it was done, obviously, U.S. became a country and U.S. had two forms of taxes, |
| 1:14.4 | tariffs and excise taxes. So that led to the tariff act of 1789, which was a 50 cents tax |
| 1:21.9 | on foreign ships per ton and it was six cents tax on American owned vessels per ton. Okay, so that's |
| 1:27.8 | 1789. Then we go to 1792 to 1802, which was the French Revolutionary War and this introduced us |
| 1:34.5 | to property taxes. And then in 1812 to 1815, it was the war of 1812, U.S. declared war against |
| 1:42.8 | the bridge because then the negotiation was going nowhere. So Madison wasn't happy about it. |
| 1:46.2 | And by the way, the whole story about Star Spangled Banner comes from the war of 1812. |
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