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The Interesting History of Income Tax


By William J. Federer
“The only things certain are death and taxes” – Benjamin Franklin Yet few know America’s interesting history of Income Tax, such as:
1787 – U.S. Constitution prohibited a “direct” Federal tax 
1862 – “Revenue Tax” on incomes went into effect as an emergency to finance the Union during the Civil War 
1873 –  The Civil War ended, emergency over, Income Tax Repealed 
1895 – The Supreme Court made Income Tax unconstitutional 
1913 – Woodrow Wilson thought tariffs on imports caused wars, so he worked to replace them with an Income Tax. Income Tax was originally only a 1% tax on the top 1% richest people in America.  ....

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Detailed text transcripts for TV channel - CNN - 20171223:16:38:00

17th. that tax return is for 2017, so when do the new rules kick in? january 1st. that will affect your 2018 tax returns, which you will file in april 2019, not april this year, april 2019. but ivanka trump also mentioned relief in february. that s true. that s when the irs will start to adjust taxes on your paycheck withholding less money. trump did later clarify on twitter when someone pointed out her mistake, writing in april americans will be thinking about how cumbersome the old tax code is and energized about upcoming simplification. but filing on a postcard, that s unlikely, certainly not this year, and even next year, as well. the tax bill is not the simplification the gop leaders promised. there are still lots of credits and deductions to sort through. however, there are a few things you can do right now to lower your tax bill for next year. if you have the cash and you ....

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Detailed text transcripts for TV channel - FOXNEWS - 20130101:02:37:00

Around the country about paycheck withholding. it will take a couple of weeks to adjust what the new tax rates are anyway. that is why they have a little wiggle room beyond midnight tonight in terms of exactly what the tax rates will be. i will put up a little bit of a red flag in terms of joe biden the vice president trying to sell this to senate democrats. there are some senate democrats on the left who may say wait a second, if we go off the cliff and don t sign off on this deal instead of dealing with the threshold of $450,000 we will basically have all of the rates go back to the clinton levels and you lose the bush rates. and then they he could come back in three, four, five days and try to change the threshold and just have it $250,000 and above taxes go up. i m not saying they will succeed in that but that is a possibility out there because another big thing that is happening in a few days is that senate democrats pick up more seats in the new congress. they picked up seats in ....

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Detailed text transcripts for TV channel - FOXNEWS - 20121129:23:04:00

Detailed text transcripts for TV channel - FOXNEWS - 20121129:23:04:00
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