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Old 02-04-2013, 07:28 AM
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SwampYankee SwampYankee is offline
New England Hick
 
Join Date: Sep 2006
Location: CT
Posts: 1,501
So, how did you celebrate?

Many Unhappy Returns-Millions of Them
It's the 100th Anniversary of the 16th Amendment. Don't forget to file you taxes.


Quote:
A century ago, on Feb. 3, 1913, the 16th Amendment to the Constitution authorizing a federal income tax was ratified. But the amendment's adoption was more an accident than an act of political will, and tinkering with the Constitution was not even required for the federal government to tax Americans' earnings.


The country's first income tax was implemented to raise money during the Civil War. The tax was repealed in 1872 because the revenues were no longer needed. The idea was resurrected in 1894 as a populist measure to tax the rich when William Jennings Bryan successfully championed passage of a 2% income tax on annual income over $4,000. The rich denounced it as communistic and predicted that many would flee the country rather than pay the tax.
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