And these are tax rates that people today would fight and die for.
Figure 1:1913 Personal Income Tax System
Figure 2:1913 Personal Income Tax System in 2005 Dollars
Figure 1:
Tax Rate- Income Level
1%- up to $20,000
2%- $20,000 - $50,000
3%- $50,000 - $75,000
4%- $75,000 - $100,000
5%- $100,000 - $250,000
6%- $250,000 - $500,000
7%- over $500,000
Figure 2:
1913 Tax Rates Adjust
Tax Rate - Income Level
1%- up to $382,189
2%- $382,198 - $955,495
3%- $955,495 - $1,433,242
4%- $1,433,242 - $1,910,990
5%- $1,910,990 - $4,299,727
6%- $4,299,727 - $9,554,950
7%- over $9,554,950
(Figure 1:A $3,000 exemption for single filers
and $4,000 for a marri
(Figure 2:A $44,776 exemption for single filers
and $59,701 for a marri
We're not quite where the Founding Fathers wanted us to be.
My idea: eliminate tax withholding. Move Tax Day from April 15th to the first Monday in November. Hey, wait a minute. That would mean that within twenty-four hours of having to write a large check people would vote in the General Election.
Hhhhmmm...do you think writing that check might impact the vote?
Happy Tax Day.





