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Coming to the New World
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When Hernando Cortes landed in the New World, he brought horses,
soldiers and his accountant. Recent historical research
has highlighted Alonso De Avila, who kept the books for the
Cortes army. As a reward for excellent service, he was made
the first mayor of Veracruz, in what is now Mexico.
Which administration brought about the first federal income
tax?
It was during the Lincoln administration in the middle of
the Civil War that the first tax on income was levied by Congress
-- in the Internal Revenue Act of 1862. The rates ranged from
3 to 5 percent. Congress eliminated the tax in 1872.
When did the federal income tax become
a permanent institution?
It has been permanent since 1913, with the passage of the
16th Amendment. As established in that year, the bottom rate
was 1 percent on taxable net income over $3,000 for an individual,
$4,000 for a married couple. The top rate, for those making
more than $500,000, was 7 percent.
The government that robs Peter to pay Paul can always depend
on the support of Paul.
George Bernard Shaw
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