All federal income tax goes to the owners of the federal reserve


 
And yet it the Fed itself is exempt from taxes

Federal Reserve banks are exempt from paying taxes at the federal, state and local levels, except on real estate holdings, according to the government website, federalreserve.gov, which outlines rules on taxation set forth in Section 7(c) of the Federal Reserve Act. http://www.newsmax.com/t/newsmax/article/651513

Got a news tip or correction? Let us know

If you got something out of this, please chip in to keep this site running, or subscribe to go ad-free.

4 views