Wu Chia-lung, a macroeconomist and chief economics researcher at Taiwan AIA Capital, says China’s economic activity has lost momentum in consumption, investment, foreign trade, and government sectors.
Reflecting on Chinese history, Wu said that the demise of a dynasty is usually accompanied by disguised tax increases, large-scale printing of money, deflation, oppression, and then ordinary citizens’ revolts. “The CCP regime faces a similar fate,” he said.
“There will be a financial collapse in general, and finally a fiscal collapse in government, which ultimately leads to the fall of the CCP.”
Read more: China’s Financial Woes Jeopardize CCP’s Rule: Economist
Some of Wu Chia-lung’s observations about Communist China’s financial woes could be said of the United States.
Adam Smith (1723-1790), a Scottish philosopher and economist, decried disproportional taxation on the wealthy. Smith observed the principle of proportionality: “The subjects of every state ought to contribute towards the support of the government, as nearly as possible, in proportion to their respective abilities; that is, in proportion to the revenue which they respectively enjoy under the protection of the state.”
Adam Smith’s idea of proportionality aligns with the 14th Amendment, Section 1: equal protection of the laws.
The 16th Amendment, which created the federal income tax, violates all of Adam Smith’s maxims. It is not proportional; it is not state taxation but taxation imposed by a federation of the 50 states.
Our Founding Fathers opposed direct taxation of the people. The original language of Article I, Section 9, clause 4 stated, “No Capitation, or other direct, Tax shall be laid, unless in Proportion to the Census or enumeration herein before directed to be taken.“
“The only difference between death and taxes is that death doesn’t get worse every time Congress meets.” – Will Rogers
Texas is a state. The federal government is not a state but is moving toward becoming one big unhappy state by means of exorbitant and arbitrary taxation and by eroding state sovereignty.
Article V of the U.S. Constitution defines the method for ratifying a proposed amendment. What if the 16th Amendment is unconstitutional? Find an answer here: The Law that Never Was
The highest authority of our republican form of government is We, the People. Our authority does not license us to not pay taxes; our responsibility is to choose good leaders, as per Deuteronomy 1:13.
Render to all what is due them: taxes to whom taxes are due, respect to whom respect is due, fear to whom fear is due, and honor to whom honor is due. — Romans 13:7
John White
Rockwall, Texas
John N. White 