As much as i can’t stand taxes I love the history behind the tax code. Thinking about the arguments made when the 16th Amendment was introduced and then the debates that have taken place since.
I’d love to be a fly on the wall and listen to the folks argue their cases during their time in history. Can you imagine Calvin Coolidge discussing tax reform during the early 20s when a permanent peace seemed to have been established.
Little did he know the Bolsheviks were well on their way to mass murder and a silly German soldier was plotting his own evil world domination plan.
How about JFK seeing the tax code was stifling productivity and arguing, mainly against his own party for the need to lower the burden.
Then Nixon using price and wage controls and the tax scheme to ‘beat inflation’, all for naught.
It’s just an amazing walk through history when viewed in the context of the taxes individual citizens have paid throughout the years.
In this video, I share with you a 1040 form from 1913 that a subscriber sent to me. Talk about fascinating.
There is even a number of $100 written on Line 1 of the Gross Income section that requests, “total amount of income that has been deducted and withheld at the source.”
Who wrote that? What was he/she doing at that time? Living on a farm? Where?
They had NO clue the horrors that awaited the world over the next 30 years from WW 1, the Communists, Nazi’s, Great Depression, WW2.
Again, to be a fly on the wall…