by Joe Jarvis
The Daily Bell
Imagine starting a small business, working for yourself, or building a company from scratch in the USA in 1875.
With no corporate taxes, and no income taxes, you kept the full rewards of your risk and labor.
It’s not surprising that in about 100 years the United States went from non-existent, to having the largest economy in the world.
Unparalleled economic freedom helped create the industrial revolution which spurred legendary economic growth from 1870 through the turn of the century.
For most of the 19th century, the main source of tax revenue for the federal government was tariffs—taxes on imported goods.