The origins of income tax in America
According to the official Internal Revenue Service website, the income tax history originated in 1862 to cover Civil War expenses. The procedure was enforced for 10 years and later annulled by the congress as unconstitutional (www.irs.gov). During this interval, a 3% flat tax rate was applied to individuals whose annual income was over $800. In 1884, congress enacted a 2% tax over $4000 income as a part of high Tarrif Bill. However, the Supreme Court abolished…
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