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The ObamaNation Poverty Plantations
Mike McGinn in People's Republic of Maryland
Thursday, September 20, 2012 at 12:53 PM
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Ironically, before 1913, when our nation first started taking a socialist tilt, NO ONE paid federal income taxes. The federal income tax didn't exist before 1913. There were only seven tax brackets in 1913 (1% - 7%) and you had to earn the inflation adjusted equivilent of over $450,000 before you moved into the 2% bracket. However, a short 5 years later in 1918 (never letting an crisis like WWI go to waste) there were 56 tax brackets ranging from 6%-77%. That person earning $450,000 in 1913 who paid just 2% was now paying 26% in 1918. The rest, as they say, is history.