Detailed text transcripts for TV channel - FOXNEWS - 20100209:22:07:00
Lost 70 billion dollars in wealth. they leave. in the 1920's, mellon found that the rich tended to invest abroad rather than build new factorys and mills in the united states, and pay the 73% income tax from those investments. 73%. yeah. but it didn't start that way. when progressive woodrow wilson introduced, and i would like to emphasize this for all of you who think that you're progressive. when woodrow wilson introduced the progressive income tax in 1913 the 1th amendment had to be taxed because income taxes were unconstitutional. how did reformers manage to get it passed. how did the prog...