Wednesday, July 6, 2011

Shared Sacrifice

Taxes from 1812 to 1815 that targeted retailers, sugar, carriages, and other items helped fund 40% of the War of 1812. 


The Civil War saw the nation’s first income tax--from the Union in 1862 and then the Confederacy a year later. 


The tax rate for an income of $10,000 with four exemptions (about $140,000 in 2003 dollars) went from 1.2 percent in 1916 to 7.8 percent. For incomes of a million dollars the rate went form 10.3 percent in 1916 to 70.3 in 1918.


World War II incorporated about 35 million previously untaxed citizens into the tax structure.


During Vietnam a 10-percent surtax was added to the federal income tax.


Today, while we have been involved in two wars for many years and engage a third country, it is considered "unpatriotic" to even consider raising taxes.  In fact, the leading Republican plan to address our debt presented by Paul Ryan even lowers taxes.  Why even teach history in school if we aren't going to learn from it?  Why even teach math if we're not going use it? 



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