Thursday, February 20, 2014

Deception and the Income Tax

Over a century ago the 16th Amendment was added to our Constitution. The Progressives sold the income tax by:

***emphasizing the extremely low tax rates, and that most would pay no tax at all

***stressed its simplicity

***pointed to problems and controversies surrounding tariffs

The original tax exempted anyone earning less than $3,000/year or married couples earning less than $4,000/year. Those with incomes between $20,000 and $50,000 would pay 2% and those with incomes over $500,000 would pay 7%. This was the top rate.

The income tax allowed the federal government - and state and local governments – to grow rapidly.

No comments:

Post a Comment