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At that time there was no fed bank. Money to fund the war effort had to be obtained from rich New York bankers and business men. The government learned quick how this situation could turn very bad for the government and this country as you can imagine. Also the first income tax was made to support the war effort. After the war the tax was supposed to go away which it never has and never will thanks to liberals and democrats and their givaway programs.

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11y ago

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