by taxing imported goods
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∙ 13y agoHe proposed 5% sales tax on imported goods.
Andrew Jackson was the only president to date to actually pay off the national debt. President Jackson paid off the debt in 1835. He was a wise man by doing so. Many people get confused and believe that there is no national debt when there is a surplus. The last president to balance the budget and regain a surplus of revenue was Bill Clinton and he did it only for one fiscal year.
Robert Morris' "On Public Credit", an economic plan for the colonies, was submitted to the Continental Congress in 1781. The paper laid out a national funding plan with a reliance on direct taxation, including a head tax on slaves. There was no support for the taxation plan.
the national debt was something used to create national debt
The national debt.
Robert Morris proposed a 5% tax on imported goodsto help pay the national debt.
so they can be out of debt, and so they can buy land
Robert Morris proposed a 5 percent tax on imported goods to help pay the national debt Robert Morris proposed a 5 percent tax on imported goods to help pay the national debt
10 pecent inflation tax
5 percent national income tax
He proposed 5% sales tax on imported goods.
Robert Morris proposed the establishment of the National Bank to help pay off the national debt. He believed that a centralized banking system would provide stability and enable the government to borrow and manage funds efficiently. His plan was eventually adopted, leading to the creation of the First Bank of the United States in 1791.
Andrew Jackson was the only president to date to actually pay off the national debt. President Jackson paid off the debt in 1835. He was a wise man by doing so. Many people get confused and believe that there is no national debt when there is a surplus. The last president to balance the budget and regain a surplus of revenue was Bill Clinton and he did it only for one fiscal year.
Hamilton proposed an excise tax to repay the national debt by setting up a national bank. The opposition was that taxing was giving the federal government too much power and a National Bank was unconstitutional.
Robert Morris' "On Public Credit", an economic plan for the colonies, was submitted to the Continental Congress in 1781. The paper laid out a national funding plan with a reliance on direct taxation, including a head tax on slaves. There was no support for the taxation plan.
Alexander Hamilton drafted his First Report on the Public Credit to outline a plan for eliminating the national debt. He did this at the request of Congress in order to pay of the debt and establish national credit.
Hamilton proposed an excise tax to repay the national debt by setting up a national bank. The opposition was that taxing was giving the federal government too much power and a National Bank was unconstitutional.