Statement Submitted to President Reagan by the Grace Commission in 1984
"100% of what is collected is absorbed solely by interest on the Federal Debt ... all individual income tax revenues are gone before one nickel is spent on the services taxpayers expect from government."
Grace Commission report submitted to President Ronald Reagan
January 15, 1984
The income taxes collected by the IRS are paid to a privately held corporation. I suspect that these funds are then transferred to the International Monetary Fund.
Video Comprehensive Annual Financial Reports
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