In the same year the Federal Reserve came into being, the Federal Income Tax also became law. It was sold to the American people with the inference that it would never be increased above the original 1 percent of income. The chief proponent of this legislation in Congress was also Senator Nelson Aldrich. Another important consideration for the members of the Money Trust was the establishment of tax-free foundations, whereby their own wealth would be sheltered from the income tax, and still be under their control. This was accomplished before the passage of the With the establishment of the Federal Reserve, private bankers had several means to control and use the money rr. wealth for themselves, but also to ‘extend the power of the Federal Government over the nation as a whole and over the people as individuals. One method repeatedly used has been the creation of "booms and busts" in the Reserve are above using their power for personal gain. This argument raises two important questions. The first question is, if that is the case, Why do they want this power? The second is, Why have they used this power repeatedly over a period of a century? For, it can be proven, that most of the booms and busts in the economy came "after" an action by the Federal Reserve, not 83 Building Modern Babylon income tax. system of the United States, not only to accumulate great economy, with those at the top knowing ahead of time what to expect of the money market. : It is argued that the men who control the Federal