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For those of you who want to cry about the high taxes we
have now check out these copies of the very first income tax
from from the IRS for the year of 1913.
Here is my copy of the 1913 IRS tax form. And here is a copy of the 1913 IRS tax form which is at an IRS web site. Back then the starting tax rate was a measly 1 percent on incomes of $3,000 or more. Making $3,000 in 1913 was like making $50,000 or $60,000 now when you adjust for inflation. And of course back in the days of 1913 American was still and agrarian society and most people lived on farms and didn't make much money, and hence didn't have to pay any income taxes. And in those days Uncle Sam didn't reach his grubby hands into you wallet each week and steal a chunk of you paycheck with withholding taxes. In those days you where on your own honesty to pay your income tax in one lump sum at the end of the year. Back then the income tax maxed out at a whopping 6 percent on incomes of over half a million dollars, which when adjusted for inflation would be $8 or $9 million dollars in 2011 income. Compare those 1913 tax rates of a min tax of 1 percent to a max tax of 6 percent on rich people to today's taxes. In 2011 Uncle Sam shakes down people who make about $8,500 for a 10 percent tax. Uncle Sam reams you for a 35 percent tax if you make $380,00 or more. Herman Cain's 999 tax plan which is a 9 percent personal income tax combined with a 9 percent corporate income tax and a 9 percent national sales tax is 9 times the amount of the first income tax. And of course with his plan he is going to rob you of about another 9 percent of your income with a national sales tax, and if you own any stocks in corporations he is going to shake you down for 9 percent of the income from those stocks. Rick Perry's 20 percent flat tax will probably screw you just as bad as Herman Cain's 999 tax. |