I was channel surfing the other night and ran across this. I just had to share,
http://www.youtube.com/watch?v=NQx33Xo5QiI
Federal income tax began in 1913. Up until that time our country was funded without a direct payroll tax. Fun fact; Initially the income tax rate was 1%, with the top tax bracket 7%. Americans were promised that was the ceiling! During World War 1 it soared to 75%, World War II and the Depression accounted for 77% share for top income earners, soaring to 94% to pay the war bill. You can imagine the war wasn't very popular with tax payers. It remained there until 1964, that had to be an incredible relief to the top 1%!
Partial History of
U.S. Federal Marginal Income Tax Rates
Since 1913
Applicable
Year Income
brackets First
bracket Top
bracket Source
1913-1915 - 1% 7% IRS
1916 - 2% 15% IRS
1917 - 2% 67% IRS
1918 - 6% 73% IRS
1919-1920 - 4% 73% IRS
1921 - 4% 73% IRS
1922 - 4% 56% IRS
1923 - 3% 56% IRS
1924 - 1.5% 46% IRS
1925-1928 - 1.5% 25% IRS
1929 - 0.375% 24% IRS
1930-1931 - 1.125% 25% IRS
1932-1933 - 4% 63% IRS
1934-1935 - 4% 63% IRS
1936-1939 - 4% 79% IRS
1940 - 4.4% 81.1% IRS
1941 - 10% 81% IRS
1942-1943 - 19% 88% IRS
1944-1945 - 23% 94% IRS
1946-1947 - 19% 86.45% IRS
1948-1949 - 16.6% 82.13% IRS
1950 - 17.4% 84.36% IRS
1951 - 20.4% 91% IRS
1952-1953 - 22.2% 92% IRS
1954-1963 - 20% 91% IRS
1964 - 16% 77% IRS
1965-1967 - 14% 70% IRS
1968 - 14% 75.25% IRS
1969 - 14% 77% IRS
1970 - 14% 71.75% IRS
1971-1981 15 brackets 14% 70% IRS
1982-1986 12 brackets 12% 50% IRS
1987 5 brackets 11% 33% IRS
1988-1990 3 brackets 15% 28% IRS
1991-1992 3 brackets 15% 31% IRS
1993-2000 5 brackets 15% 39.6% IRS
2001 5 brackets 15% 39.1% IRS
2002 6 brackets 10% 38.6% IRS
2003-2009 6 brackets 10% 35% Tax Foundation
Quite a discrepancy, it puts a whole new light on being wealthy! If history is a guide it would appear we are headed for the 70% zone again.Here's how it currently looks.....
Marginal Tax Rate[1] Single Married Filing Jointly or Qualified Widow(er) Married Filing Separately Head of Household
10% $0 – $8,350 $0 – $16,700 $0 – $8,350 $0 – $11,950
15% $8,351– $33,950 $16,701 – $67,900 $8,351 – $33,950 $11,951 – $45,500
25% $33,951 – $82,250 $67,901 – $137,050 $33,951 – $68,525 $45,501 – $117,450
28% $82,251 – $171,550 $137,051 – $208,850 $68,525 – $104,425 $117,451 – $190,200
33% $171,551 – $372,950 $208,851 – $372,950 $104,426 – $186,475 $190,201 - $372,950
35% $372,951+ $372,951+ $186,476+ $372,951+
Just doing my part to keep you informed!
God Bless
Capt. Bill
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See if these words sound familiar.
ReplyDeleteLet me tell you how it will be, here 1 for you 19 for me cause I'm the tax man.
The Beatle I think 1967 ? not sure.
Look at the British and the French tax system.
That is going to be out tax system soon.
70% of our freedom and we're going to let them with out a peep from us.
When you make $10.00 you can keep $3.00 and the liberals get $7.00.
So those of you that make $600.00 a week you get all of $180.00.
$180.00 of $600.00 and be thankful they don't take it all.
I hope you like plane bread because you won't be able to afford peanut butter to put on the F#####G bread .
Every thing will be state run just like in Russia, China, Cuba, etc.
And soon what use to be AMERICA will be state run.
The liberals want to destroy this country and they will if they keep going the way there going right now.
Well since I'm going to have to get use to it let me start.
Comrades welcome to the U.S.A. aka United Socialist of AMERICA.
Some of us see what's going on but we need help to stop this from happening.
Who! like the old U.S.A. not the future u.s.a.
202) 224-3121 call every day and give them your input.
Keep calling them until they have night mares about you calling them.
We can defeat them 1 at a time.
Comrades thank you for your time.
........................................Comrade I MAN