100 Years Of U.S. Federal Income Tax

100 Years Of U.S. Federal Income Tax

Submitted by Tyler Durden
02/03/2013
http://www.zerohedge.com

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On February 3rd, 1913, one of the two most historic events in US history took place: the ratification of the 16th amendment, which established Congress’ right to impose a Federal income tax on Americans, and overturned Article I, Section 9 of the US Constitution which explicitly prohibited a general income tax. The amendment was brief and to the point, and read as follows: “The Congress shall have power to lay and collect taxes on incomes, from whatever source derived, without apportionment among the several States, and without regard to any census or enumeration.” And with that, the US Federal Income Tax was born and has been with us for precisely 100 years.

The amendment itself:

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The result: the first ever iteration of what would henceforth become the most hated form in US history.Please click the link to see the complete article.

From OurDocuments.gov

Passed by Congress on July 2, 1909, and ratified February 3, 1913, the 16th amendment established Congress’s right to impose a Federal income tax.

Far-reaching in its social as well as its economic impact, the income tax amendment became part of the Constitution by a curious series of events culminating in a bit of political maneuvering that went awry.

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Please click the link to see the complete article.
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About ace5ace

60, roaming the Ozarks.
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