1. What are the key arguments in favour and against inflation targeting and central bank independence?2. What is Quantitative Easing? What are its objectives? How successful has it been in….
An increase in frustration from taxes imposed by the British created a tense atmosphere in which the Revolutionary War was born
An increase in frustration from taxes imposed by the British created a tense atmosphere in which the Revolutionary War was born.
Several taxes were imposed on the Americans by the British to fund wars across the pacific, which many Americans opposed. The Stamp Tax of 1765 was implemented on the Americans as a way to tax all paper materials, including but not limited to; newspapers, books, and pamphlets. In Bradford Williams ad in the Pennsylvania Journal, which depicts a skull and cross bones with the words “This is the place to affix the stamp,” (https://www.loc.gov/item/2004672606/ (Links to an external site.)Links to an external site.) you can see the discontent the people had with the imposed new tax. Again, fed up with the high taxes the British imposed on tea, the “Boston Tea Party” engraved by W.D. Cooper depicts the fed-up patriots dumping crates of tea into the harbor in protest (http://www.historyofmassachusetts.org/the-boston-tea-party/ (Links to an external site.)Links to an external site.)
The American Patriots, tired of living under British Rule, demanded their Independence. Perhaps one of the most influential pamphlets of its time, Thomas Paine’s “Common Sense” (https://en.wikipedia.org/wiki/Common_Sense_(pamphlet) (Links to an external site.)Links to an external site.) reinforced the idea that the American Colonies should be self-governed, free from British rule. Soon after “Common Sense” was release to the public, the “Declaration of Independence” (https://catalog.archives.gov/id/1419123 (Links to an external site.)Links to an external site.) was drafted and sent to King George III, and among the many grievances provided was “For opposing taxes on us without our consent.”
The events leading up to the Declaration of Independence and the revolutionary war are directly related to the taxes imposed by the British. Had the British not so heavily taxed the American colonies, the revolution that lead to the independence movement may have never happened.