Lincoln believed Government should not take “fruits of labor”….or did he?

Lincoln signed the first income tax law. August 5, 1861 – The federal government levied an income tax for the first time; President Lincoln signed the Revenue Act to raise cash to pursue the Civil War; Lincoln and Congress agreed to impose a 3 percent tax on annual incomes over $800. Act broadly written, defined 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. SOURCE

1861 First U.S. income tax: Pres. Lincoln signs into law a 3% tax on incomes over $800, effective January 1, 1861. It was rescinded in 1872. SOURCE

Hat Tip to SanctoDan for the video.

Share on FacebookTweet about this on TwitterShare on StumbleUponDigg thisPin on Pinterest
This entry was posted in Politics. Bookmark the permalink.

2 Responses to Lincoln believed Government should not take “fruits of labor”….or did he?

  1. skyagunsta says:

    It is amazing in the video how, of the two people the CNN person asked questions of, neither one could give a rational supporting answer to their claims that Obama is a fascist (althoughcorporate states tend to be known as that) and the second person couldn’t support whatever claim he was making about Lincoln. And, here you go, you find documentation of Lincoln having signed into law a 3% tax to finance the Civil War.

    And, all of this claim that tax cuts is the way to go … well, here in Florida tax cuts are draining the pockets of the people, because whatever dollar gets cut out of their federal income taxes, is now going to be charged several times more in fees for services.

    [The Florida] Legislature’s budget plans would boost fees on a range of services, including those for cars, parks, divorce, foreclosures, death — and garbage.
    more at: http://www.sun-sentinel.com/features/time-money/money/sfl-041509-fees-budget,0,6108917.story

    It seems to me that the conservatives like the Bush family and all of their followers, along with a few rubber stamp democrats, are the ones who are helping to create this corporate fascist state we all seem to be living in now.

    My husband and I understand the need for taxes and taxation. This year when we had to pay quite a few dollars back to the IRS because his employment had not taken enough out of his pay check, we have done so with pain in our derrieres but gladness in our hearts.

    And my husband said, all of this young people who do not want to be taxed do not seem to understand that no taxes really hurts them in the long run, especially when retirement time comes around.

    My husband will be retiring next year. And I haven’t worked since my colostomy surgery in 1998.

  2. Wizcon says:

    I work for myself so I pay in quarterly. I over paid because some things took a slide last fall. Also my costs went up. I actully got money back! But I would rather have shown a better profit.
    In the meantime, the Government got and interest free loan from me.

Comments are closed.