But to me the real start of Wilson's socialism really got going at the end of WWI when his "14 points" were deconstructed and, basically, laughed out of Dodge and he then more and more became a big government fancier.
And I'm sorry but I don't think of the Federal Reserve as a high water mark of capitalism - quite the contrary I consider it an early step in government's control and manipulation of the economy. And Wilson was definitely in favor of that.
We'll have to disagree about Wilson since I find him to be the first modern socialist President (followed all too soon by others).
IAE, here's a link to Beardsley Ruml's interesing speech Taxes For Revenue Aare Obsolete.
Now that I've read more of the report, the plans they analyzed (particularly including the "progressive consumption tax") are pretty pathetic compared to the Fair Tax. Why they spent the money on this and left out the Fair Tax is difficult to defend.