 Image uploaded from a quicklink (Image by Unknown Owner) Details DMCA | In 1913 the Federal Government surmounted this obstacle by winning a constitutional amendment authorizing taxes on incomes. No upper limit was set, but most Americans were unaffected. "Incomes" were narrowly defined; an unmarried taxpayer had to make about $50,000 (in today's money) to pay the tax at all; and the top rate, a mere 7 per cent, reached only the very rich. It wasn't until after World War II that most Americans paid income taxes, but then the rates rose to their current punishing levels. And in recent decades most states have imposed income taxes too. Other taxes have also increased at dizzying rates. |
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