Interesting History of Income Tax: Includes U. S. President John F. Kennedy's Tax Plan

"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 to finance the Union during the Civil War

*1895 - Supreme Court made Income Tax unconstitutional

*Woodrow Wilson thought tariffs on imports caused wars, so he worked to replace them with an Income Tax.

*1913 - Income Tax was only a 1% tax on the top 1% richest people in America.

*1943 - Paycheck Withholding began as an emergency effort to get funds to finance WWII.

John F. Kennedy - "Lower rates of taxation will stimulate economic activity and so raise the levels of personal and corporate income as to yield within a few years an increased flow of revenues to the Federal Government." (Annual Budget Message, Jan. 17, 1963)

Thomas Jefferson -
"It is an encouragement to proceed as we have begun in substituting economy for taxation" (2nd Annual Message, 1802)

(176 pages, includes pictures)