One of the biggest problems was that the national government had no power to impose taxes. To avoid any perception of “taxation without representation,” the Articles of Confederation allowed only state governments to levy taxes. To pay for its expenses, the national government had to request money from the states.
Q. What type of power is the power to tax?
The power to tax is a concurrent power of the federal government and the individual states.
Table of Contents
- Q. What type of power is the power to tax?
- Q. What type of taxes are collected?
- Q. What is the power to coin and print money?
- Q. How did the Constitution coin money?
- Q. Is gold mentioned in the Constitution?
- Q. Who can legally print money?
- Q. What does the Constitution say about debt?
- Q. What is the debt clause?
Q. What type of taxes are collected?
Learn about 12 specific taxes, four within each main category—earn: individual income taxes, corporate income taxes, payroll taxes, and capital gains taxes; buy: sales taxes, gross receipts taxes, value-added taxes, and excise taxes; and own: property taxes, tangible personal property taxes, estate and inheritance …
Q. What is the power to coin and print money?
Answer: The U.S. Constitution gives the power to print money to the legislative branch of the federal government or Congress. The U.S. Treasury controls the printing of money in the United States.
Q. How did the Constitution coin money?
From Article I, Section 8, there is “Congress shall have Power…to coin Money, regulate the Value thereof, and of foreign Coin.” And from Section 10, “no state… As for the first clause, Congress could set up a mint. That is about all it says. Congress can coin money and specify what its denomination is.
Q. Is gold mentioned in the Constitution?
The Constitution of the United States of America is not merely a set of suggestions. So when the Constitution says, in Article I Section 10, “No state shall make any Thing but gold and silver Coin a Tender in Payment of Debts”, it means exactly that.
Q. Who can legally print money?
Only the Bank of England may issue banknotes in England and Wales. Of the original 21 banks authorised to issue banknotes in Scotland and Northern Ireland, only 7 now remain. In Scotland they are: Bank of Scotland; Clydesdale; and Royal Bank of Scotland.
Q. What does the Constitution say about debt?
Fourteenth Amendment, Section 4: The validity of the public debt of the United States, authorized by law, including debts incurred for payment of pensions and bounties for services in suppressing insurrection or rebellion, shall not be questioned.
Q. What is the debt clause?
A clause in a last will that directs the executor to pay all debts and obligations, including any estate and gift taxes, as soon as is practical.
