As tax day approaches
For your perusal, the original tax rates from 1913 and as compared to 2005 dollars
And these are tax rates that people today would fight and die for.
Figure 1:1913 Personal Income Tax System
Figure 2:1913 Personal Income Tax System in 2005 Dollars
Figure 1:
Tax Rate- Income Level
1%- up to $20,000
2%- $20,000 - $50,000
3%- $50,000 - $75,000
4%- $75,000 - $100,000
5%- $100,000 - $250,000
6%- $250,000 - $500,000
7%- over $500,000
Figure 2:
1913 Tax Rates Adjust
Tax Rate - Income Level
1%- up to $382,189
2%- $382,198 - $955,495
3%- $955,495 - $1,433,242
4%- $1,433,242 - $1,910,990
5%- $1,910,990 - $4,299,727
6%- $4,299,727 - $9,554,950
7%- over $9,554,950
(Figure 1:A $3,000 exemption for single filers
and $4,000 for a marri
(Figure 2:A $44,776 exemption for single filers
and $59,701 for a marri
We're not quite where the Founding Fathers wanted us to be.
My idea: eliminate tax withholding. Move Tax Day from April 15th to the first Monday in November. Hey, wait a minute. That would mean that within twenty-four hours of having to write a large check people would vote in the General Election.
Hhhhmmm...do you think writing that check might impact the vote?
Happy Tax Day.
posted by Amendment X at 2:20 PM permalink
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