This day in history - November 3, 1913: The United States introduces an income tax
The 16th Amendment to the Constitution made the income tax a permanent fixture of the U.S. tax system. The amendment gave Congress legal authority to tax income and resulted in a revenue law that taxed incomes of both individuals and corporations.
On November 3, 1913, the first American citizens received information about the new national income tax including the fact that a married man living with his wife, who is in receipt of an income of $5,000 pays $10 a year and if his income is $10,000 he pays $60 a year.
Not much to say about this. I'm surprised Republicans don't have plans to wear black arm bands on Capitol Hill. Maybe they do.
(Cross-posted at Lippmann's Ghost.)
Labels: This day in history