In 1913 the tax rates were as follows;
Adjusted for Inflation 1913 CPI: 9.9 (This tax applied to
Married filing Jointly & Separately, Single, and Head of Household)
Marginal tax rates (%): 1.0% was the $0 but for over
$453,292, 2.0% was $453,292 but for over $1,133,230, 3.0% was $1,133,230 but
for over $1,699,849, 4.0% was $1,699,849 but for over $2,266,461, 5.0% was $2,266,461
but for over $5,666,152, 6% was $5,666,152 but not over $11,332,304, and finally
7.0% was $11,332,304 and above.
Now in 2011 the tax rates are as follows;
Rather than put down all the numbers, it is easier to say
that the Federal Individual Income Tax burial slid the scales so much so that
the 1.0% of 1913 is paying 146% of the tax! That is MORE THAN A 100% of the
tax. So in reality there is no 1.0% to raze your fist to! Look it up at http://taxfoundation.org/sites/taxfoundation.org/files/docs/fed_individual_rate_history_nominal%26adjusted-20110909.pdf
and see for yourself!
According to Ellen Terrell of Business
Reference Services “The 16th amendment, ratified in 1913, removed this
objection by allowing the Federal government to tax the income of individuals
without regard to the population of each State. For additional information on
taxation in the United States, see the section on taxes on the web site of the
U.S. Department of the Treasury.” There was also the Act of 1862 established
the office of Commissioner of Internal Revenue.
To read up more on tax law and tax history go to http://www.nwtrcc.org/history/history1800.php
and here are other sites worth visiting;
US Government wants more money for WAR! New War Tax coming.
Folks up at arms over War Tax,
No comments:
Post a Comment