Happy 100th Birthday U.S. Federal Income Tax

[Lucille]

F'n Wilson. One of the most consequential presidents in the history of the country. The 16th, 17th, the Fed, and 100 years of bipartisan foreign policy of Wilsonian interventionism to make the world "safe for democracy." Too bad none of us are safe from democracy (http://mises.org/hoppeintro.asp), eh?

Happy 100th Birthday U.S. Federal Income Tax
http://www.zerohedge.com/news/2013-02-03/happy-100th-birthday-us-federal-income-tax


On February 3rd, 1913, one of the two most historic events in US history took place: the ratification of the 16th amendment, which established Congress' right to impose a Federal income tax on Americans, and overturned Article I, Section 9 of the US Constitution which explicitly prohibited a general income tax. The amendment was brief and to the point, and read as follows: "The Congress shall have power to lay and collect taxes on incomes, from whatever source derived, without apportionment among the several States, and without regard to any census or enumeration." And with that, the US Federal Income Tax was born and has been with us for precisely 100 years.
[...]
As for the other historic event of US history, ironically it, too, took place in 1913, on December 23: this was the day when the Federal Reserve was founded.

[fr33]

May it die a quick painless death.

[Danke]

Actually the Income Tax is 151 years old.

[Anti Federalist]

It was only gonna be for those rich people...and only 2% max.

LOLOLOLOLOLOLOLOLOL

[phill4paul]

It was only gonna be for those rich people...and only 2% max.

LOLOLOLOLOLOLOLOLOL

Who would bitch about that. Stick it to those rich bastards! Right?

[Smart3]

Actually the Income Tax is 151 years old.
Hey! No facts around here!

[GunnyFreedom]

those are some ugly charts...

[Anti Federalist]

those are some ugly charts...

Yes, they are...but did you notice something about them, about the timeline for when we really fell off the cliff?

Not so much at the point of the Fed's creation, the Great Depression or even WWII.

All the spending/deficit and debt charts explode right around 1971-1972...

When Nixon broke the Bretton Woods accords and sent Kissinger to sell us out to Chairman Mao.

I have been delving into the history of these two, relatively obscure and not too much talked about events for a while now, and I am convinced it was these two actions that really "lit the fuse" and brought us to the point we are right now.

[HOLLYWOOD]

And of course the stolen money from the hard work of the individual is spent on behemoth grandeur known as the Federal Government and Pagan naming rights and monuments and etc.... to those that scammed-up the "Theft Ring"

They created the Monopoly game for themselves and their masters, the banking industry,

[Anti Federalist]

Who would bitch about that. Stick it to those rich bastards! Right?

http://gifsforum.com/images/gif/lol/grand/Jack-Nicholson-lol-eccbc87e4b5ce2fe28308fd9f2a7baf3-1658.gif

(I guess I should probably just make ol' MacMurphy my avatar...but I'm too attached to WW's)

[heavenlyboy34]

Actually the Income Tax is 151 years old.
Those who read the article know that was discussed...





Passed by Congress on July 2, 1909, and ratified February 3, 1913, the 16th amendment established Congress's right to impose a Federal income tax.

Far-reaching in its social as well as its economic impact, the income tax amendment became part of the Constitution by a curious series of events culminating in a bit of political maneuvering that went awry.

The financial requirements of the Civil War prompted the first American income tax in 1861. At first, Congress placed a flat 3-percent tax on all incomes over $800 and later modified this principle to include a graduated tax. Congress repealed the income tax in 1872, but the concept did not disappear.

After the Civil War, the growing industrial and financial markets of the eastern United States generally prospered. But the farmers of the south and west suffered from low prices for their farm products, while they were forced to pay high prices for manufactured goods. Throughout the 1860s, 1870s, and 1880s, farmers formed such political organizations as the Grange, the Greenback Party, the National Farmers’ Alliance, and the People’s (Populist) Party. All of these groups advocated many reforms (see the Interstate Commerce Act) considered radical for the times, including a graduated income tax.

In 1894, as part of a high tariff bill, Congress enacted a 2-percent tax on income over $4,000. The tax was almost immediately struck down by a five-to-four decision of the Supreme Court, even though the Court had upheld the constitutionality of the Civil War tax as recently as 1881. Although farm organizations denounced the Court’s decision as a prime example of the alliance of government and business against the farmer, a general return of prosperity around the turn of the century softened the demand for reform. Democratic Party Platforms under the leadership of three-time Presidential candidate William Jennings Bryan, however, consistently included an income tax plank, and the progressive wing of the Republican Party also espoused the concept.


In 1909 progressives in Congress again attached a provision for an income tax to a tariff bill. Conservatives, hoping to kill the idea for good, proposed a constitutional amendment enacting such a tax; they believed an amendment would never receive ratification by three-fourths of the states. Much to their surprise, the amendment was ratified by one state legislature after another, and on February 25, 1913, with the certification by Secretary of State Philander C. Knox, the 16th amendment took effect. Yet in 1913, due to generous exemptions and deductions, less than 1 percent of the population paid income taxes at the rate of only 1 percent of net income.

[heavenlyboy34]

http://gifsforum.com/images/gif/lol/grand/Jack-Nicholson-lol-eccbc87e4b5ce2fe28308fd9f2a7baf3-1658.gif

(I guess I should probably just make ol' MacMurphy my avatar...but I'm too attached to WW's)
WW suits you better...and I'm accustomed to looking for that avatar to find most of the awesome posts in a thread. Don't change it-that will make me a grumpy old man. :P

[Anti Federalist]

WW suits you better...and I'm accustomed to looking for that avatar to find most of the awesome posts in a thread. Don't change it-that will make me a grumpy old man. :P

You got it.

Maybe I'll re-activate my sig line...


Free Country.

http://gifsforum.com/images/gif/lol/grand/Jack-Nicholson-lol-eccbc87e4b5ce2fe28308fd9f2a7baf3-1658.gif

[Bastiat's The Law]

What is truly Twilight Zone bizarre is when common folk defend the income tax. Talk about Stockholm syndrome.