1 year, 6 months ago
via ask.inc.com
Who invented the present tax system?
Is the present tax system working, what future tax system might be feasible if the present one fails?
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M$1 Answer
The first proposed income tax in the United States was during the War of 1812. It was a flat rate of .08% on income above 60 lbs. and 10% on income above 200 lbs. This tax was never implemented as a treaty was signed that ended the hostilities. The first tax that was passed was in 1862 by President Lincoln. It again was a flat rate but this time it was 3% on income above $600 and 5% on income above $10,000. Even in the 1930s, the individual federal taxes were never more then 1.4 percent of GNP. By the 1990s, the GNP for individual federal taxes was 8.77.
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