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To: blackdog
In 1894, Congress passed the Wilson-Gorman tariff, which imposed the first peacetime income tax. The rate was 2% on income over $4000 ($109,030.77 in 2014 dollars), which meant fewer than 10% of households would pay any.

With the system the way it is now, it pays handsomely to be poor and not work!

...so I don't know if your idea would motive those satisfied with the 'reparations' they are currently receiving?

14 posted on 05/29/2014 10:45:35 AM PDT by TexasCajun
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To: TexasCajun

You must be familiar with the St Louis Federal Reserve Web-site.

They have an inflation calculator—just type in the amount and the date and you get equivalent current dollar cost.

Not that most people could care less. 10.00 an hour in 1975 was 43.20 an hour two years ago.


25 posted on 05/29/2014 11:09:47 AM PDT by the anti-mahdi
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