100th Anniversary of the Income Tax

Townhall.com ^ | February 3, 2013 | Heather Ginsberg

[Kaslin]

Today is the 100^th birthday of the income tax. On February 3, 1913 the 16^th amendment was ratified, which enabled the establishment of the federal income tax. This is ever in our mind as tax season is now upon us.

Look at this graphic that Americans for Tax Reform released in honor of the 100^th anniversary:

	1913	2013
Top Tax Bracket	7%	39.6%
Tax Bracket Range	1% - 7%	10% - 39.6%
Top Tax Bracket Threshold (today's dollars)	$11.6 million	$450,000
Total Tax Revenues (today's dollars)	$16.6 billion	$2.7 trillion
Family Standard Deduction (today's dollars)	$93,000	$12,200
Total Number of 1040s filed	358,000	140 million
Total Pages in Tax Code	400	73,954

 

Is it just me, or does this show something is a little off? Oh yeah, remember that part where liberals think the rich need to pay their fair share! Look at our top tax bracket, who on earth would have thought one hundred years ago we would be asking almost half of Americans to pay even more in taxes?

Well, happy tax season! And the happiest of birthdays to one of the biggest pains!

[dhs12345]

Be wary of those asking for a VAT or flat tax. Politicians will offer that they be temporary or very small, “not even noticable,” and then they will ratchet it up.

BTW, they will promise to phase out the income tax as the flat tax ramps up. However, I betcha that we will end up with both. Some form of income tax AND a flat tax. Sort of a two for one deal.

[Blood of Tyrants]

Franklin

[Blood of Tyrants]

He doesn’t hold a candle to the presidents who gave us the Federal Reserve, the income tax, popularly elected senators, Prohibition, the War on Drugs, segregated military, Social Security, the minimum wage, the “Great society”, and socialized medicine.

[UnwashedPeasant]

"The four worst socialists presidents we ever had were Wilson, Roosevelt, Johnson, and Obama.

Lincoln belongs on that list of shame.

[Army Air Corps]

Okay, what was it?

[wesagain]

It was $4000! Why is that? Because a working person’s income from his labors couldn’t be taxed. Realize what the average annual income was a hundred years ago.