Archive for January 11th, 2013

One hundred years ago, the United States experienced three major changes:

  • The 16th amendment introduced a federal income tax
  • The Federal Reserve (Fed) was created
  • The 17th amendment introduced the popular vote of senators

Some have described these changes by saying that 1913 was the worst year in U.S. history. Let us have a look at the last two changes.

Nobel laureate Milton Friedman on the track record of the Fed:

It has done far more harm than good.

Judge Andrew Napolitano on the 17th amendment:

It may sound like more democracy but it was the death knell of the idea that the federal government is a coming-together of independent, sovereign states.

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