In 1913 the income tax amendment was ratified and became a part of the United States Constitution. The Progressives called upon citizens to "cheerfully support and sustain this, the fairest and cheapest of all taxes. . . ."
Less than 1% of the population then paid federal income tax.
A normal income tax and an additional tax were levied against the net income of individuals, as shown in the following table:
Income Normal rate Additional rate Combined rate
0 1% 0 1%
$20,000 1% 1% 2%
$50,000 1% 2% 3%
$75,000 1% 3% 4%
$100,000 1% 4% 5%
$250,000 1% 5% 6%
$500,000 1% 6% 7%
There was an exemption of $3,000 for single filers and $4,000 for married couples. Therefore, the 1% bottom marginal rate applied only to the first $17,000 ($374,400 in 2010 dollars) of income for single filers or the first $16,000 ($352,300 in 2010 dollars) of income for married filers
Franklin Roosevelt, who had known communists in his cabinet and administration, proposed a 100 percent top tax rate. At a time of “grave national danger,” Roosevelt told Congress in April 1942, “no American citizen ought to have a net income, after he has paid his taxes, of more than $25,000 a year.” That would be about $350,000 in today's dollars. Roosevelt went on to claim that this was fair and just.
You know the history. The progressive income tax is as Karl Marx said, the best way to share the wealth. The Marxist/Progressive (Democrat) Party is today proposing another way to spread wealth so they can gain more power by making servants, serfs, and slaves, of even more Americans to the government.
2020 presidential candidate for the Marxist/Progressive (Democrat) Party, Elizabeth Warren, , is proposing a new “wealth tax” on Americans with more than $50 million in assets, as well as other measures that include a significant hike in funding for the Internal Revenue Service.
"We need structural change. That’s why I’m proposing something brand new – an annual tax on the wealth of the richest Americans. I’m calling it the 'Ultra-Millionaire Tax' & it applies to that tippy top 0.1% – those with a net worth of over $50M,"
This measure goes beyond confiscation of current income of Americans and now calls for the theft of the property of Americans, even though our Declaration of Independence asserts that property – pursuit of happiness- is a natural right granted to us by our Creator and thus cannot be taken from the citizen by government.
The history of the theft by the government of the property of the American citizen has not as yet been written. It has been written in Russia, later the Soviet Union, member of the Soviet bloc, Mao’s China, Castro’s Cuba, and is currently being written in Chavez’s Venezuela. The ending has always been the same; social decay and financial collapse. We were told by Einstein that insanity is trying the same thing over and over and expecting a different result.
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