The Interesting History of Income Tax
By William J. Federer “The only things certain are death and taxes” – Benjamin Franklin Yet few know America’s interesting history of Income Tax, such as: 1787 – U.S. Constitution prohibited a “direct” Federal tax 1862 – “Revenue Tax” on incomes went into effect as an emergency to finance the Union during the Civil War 1873 – The Civil War ended, emergency over, Income Tax Repealed 1895 – The Supreme Court made Income Tax unconstitutional 1913 – Woodrow Wilson thought tariffs on imports caused wars, so he worked to replace them with an Income Tax. Income Ta...
Source: vcyamerica.org
