History of the Income Tax
The federal progressive income tax has been an issue that has been argued on the floors of Congress, in front of the United States Supreme Court, in front of television cameras, and around the dinner table. The tax served its purpose in supplementing revenue during the Civil War and World War I, but continued taking from Americans' income in peacetime, allowing fewer dollars to be spent on goods and services. When the American government was in a deficit, it was harder to argue for the abolishment of the income tax, but now that Congress is looking at a government surplus for the first time in decades, the question is raised again: Do we have to have a progressive federal income tax? Prior to the Civil War, the vast majority of government funds came from tariffs on imports. The only exception was during the War of 1812, when blockades by the British, as well as the war being with the young country's number one trade partner, lowered income from tariffs. Government revenues were accompanied by funds from the sale of public lands, such as the Louisiana Territory and the Oregon Country, as well as excise taxes, which were introduced during the War of 1812 (Hansen 62). As Abraham Lincoln, who once said "that he had no mone
Seligman, Edwin R.A. The Income Tax: History, Theory, and Practice of Income Taxation. New York: The Macmillan Co., 1914. John McCain for President Official Site. 13 Dec. 1999. 14 Dec. 1999. . The primary purpose of the Revenue Act of 1916 was, of course, to raise revenue, but lawmakers saw it as a temporary measure, or at least that worked when the traveled back to their constituents. But, as Waltman notes, "The income tax...by this act proved itself to be one of the easiest taxes to juggle" (36-37, 42).
Some common words found in the essay are:
United Statesthe, World War, Revenue Act, Randolph Paul, Supreme Court, Conference Committee, Abraham Lincoln, William Taft, Democratic Party, David Davies, income tax, dec 1999, percent incomes, 14 dec, 14 dec 1999, supreme court, world war, excise taxes, dec 1999 14, tax percent, tax rates, 1999 14, 1999 14 dec, 13 dec 1999, tax system grew,
Approximate Word count = 2901
Approximate Pages = 12 (250 words per page double spaced)
|
