Quote 12 - 5 - 11

don_socalDecember 5, 2011

Allow the president to invade a neighboring nation, whenever he shall deem it necessary to repel an invasion, and you allow him to do so whenever he may choose to say he deems it necessary for such a purpose - and you allow him to make war at pleasure.

Abraham Lincoln

America will never be destroyed from the outside. If we falter and lose our freedoms, it will be because we destroyed ourselves.

Abraham Lincoln

Any people anywhere, being inclined and having the power, have the right to rise up, and shake off the existing government, and form a new one that suits them better. This is a most valuable - a most sacred right - a right, which we hope and believe, is to liberate the world.

Abraham Lincoln

This day in history.

Aug 5, 1861:

Lincoln imposes first federal income tax

On this day in 1861, Lincoln imposes the first federal income tax by signing the Revenue Act. Strapped for cash with which to pursue the Civil War, Lincoln and Congress agreed to impose a 3 percent tax on annual incomes over $800.

As early as March 1861, Lincoln had begun to take stock of the federal government's ability to wage war against the South. He sent letters to cabinet members Edward Bates, Gideon Welles and Salmon Chase requesting their opinions as to whether or not the president had the constitutional authority to "collect [such] duties." According to documents housed and interpreted by the Library of Congress, Lincoln was particularly concerned about maintaining federal authority over collecting revenue from ports along the southeastern seaboard, which he worried, might fall under the control of the Confederacy.

The Revenue Act's language was broadly written to define income as gain "derived from any kind of property, or from any professional trade, employment, or vocation carried on in the United States or elsewhere or from any source whatever." According to the U.S. Treasury Department, the comparable minimum taxable income in 2003, after adjustments for inflation, would have been approximately $16,000.

Congress repealed Lincoln's tax law in 1871, but in 1909 passed the 16th Amendment, which set in place the federal income-tax system used today. Congress ratified the 16th Amendment in 1913.

Thank you for reporting this comment. Undo

Got me to thinking:
In the middle fifties we celebrated when DH's income reached 10k per year - and he was the sole breadwinner. With this income we were buying a house, Paid for a baby (no health-insurance for normal birth), made car-payments, ate well, met all ordinary expenses ... and had enough left over to spend modestly on fun and enjoyments. Now this is below the poverty line.

    Bookmark   December 5, 2011 at 11:57AM
Thank you for reporting this comment. Undo

Thanks for the history lesson. I like that. Why am I not surprised to see that the first federal income tax was to finance a war. We are now financing two wars at the same time.
Having said that, I'm so glad that the US came to the aid of Europe during WW11.

    Bookmark   December 5, 2011 at 6:55PM
Thank you for reporting this comment. Undo

You know, considering the average U.S. annual wage in 1900 was less than $500, only the very rich paid income tax under Lincoln's administration.

    Bookmark   December 10, 2011 at 3:05AM
Sign Up to comment
More Discussions
what was Y Day in 1939?
I am watching the WWw movie series Winds Of War. In...
Quotes 3 - 28 - 15
To keep every cog and wheel is the first precaution...
Quotes 3 - 20 - 15
Do you realize that if you fall into a black hole,...
Quotes 3 - 21 - 15
What is a television apparatus to man, who has only...
The advantage of snow.
My forthysia hedges have a low border of blooms, about...
Sponsored Products
Candice Brushed Nickel Three-Light Pendant w/Pleated White Shade
$369.99 | Bellacor
Rob Ryan Money Box
$23.99 | Dot & Bo
Beken of Cowes
$695.00 | FRONTGATE
Kalon Studios | Caravan Conversion Kit
Dinner Diaries
$50.00 | Horchow
TRIBECCA HOME Mendoza Keyhole Back Dining Chairs (Set of 2)
Stamina Exercise Bikes InStride Body Cycle Pedal Exerciser 15-0176
$79.00 | Home Depot
Vienna Full Spectrum Crystal Floor Lamp
Lamps Plus
People viewed this after searching for:
© 2015 Houzz Inc. Houzz® The new way to design your home™