The original 1913 income tax was 1% for people with incomes above $3,000 (about $80,000 today) and 6% on $500,000 or more ($13 million). About 3% of the population was taxed. Just keep that in mind when Democrats lie and say the wealth tax will remain targeted at just the top.
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There has never been nor will there ever be a type of tax that remains relegated to its original low rate and small base of payers.
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Once a bill is signed into law it can be adjusted at will. Stand your ground.
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And in normalized dollars we spent $416M on defense... Don't get me started on how much more we spend on aid to Israel than in 1913.
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It isn't just income tax. Even post-income tax dollars are taxed until Americans get $0.20 on the dollar, after sales tax, property tax, gas tax, and other taxes. What if we enacted a graduated income tax, state and federal, and abolished all other taxes? No deductions, credits.
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Flat/progressive fed income tax w/no deductions has been raised for decades, but lobbying interests that depend on deductions& demagogic claims about the impact of lost deductions ("families depend on the child credit!") stymied it. Steve Forbes ran for POTUS on that.
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Ben, how are the politicians going to be able to funnel millions of dollars into their own pockets if we do not give them more tax money?!?!
🤫 You are ruining their plan
GIF
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Now ask Ben Shapiro how much a dollar was worth in 1913 and why is the minimum wage $7.25 today.
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