Income Tax ….Introduced To Finance The War Against The Confederacy…..Really?

By  | April 17, 2018 | Filed under: Interesting Facts, News

Benjamin Franklin said that there are only two certainties in life: death and taxes. The Revenue Act of 1861 introduced income tax in the United States of America. It was first used to help finance the war against the Confederacy.

On this day, August 5th in 1861, Lincoln imposes the first federal income tax by signing the Revenue Act. Strapped for cash with which to pursue the Civil War, Lincoln and Congress agreed to impose a 3 percent tax on annual incomes over $800.

However, the constitutionality of income taxation was widely held in doubt [Pollock v. Farmers’ Loan & Trust Company, 157 U.S. 429 (1895)] ” until 1913 with the ratification of the 16th Amendment.

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