Debunking Robert Reich's "Tax the Rich" Myths || EP 599
Good Morning Liberty
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The Revenue Act of 1913 - One % Income Tax
The revenue act of 19 13 imposed a one % tax on incomes above three thousand dollars, with a top tax rate of six % on those earning more than 500000 dollars per year. Approximately 3 % of the entire population was subject to the income tax in 19 13. The people making 85 thousand dollars or more were going to pay 1% and 6%. i think it took like seven years for them to get up to that number. It was a pretty, pretty short amount of time, s keep in mind.
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