As we celebrate the 233rd birthday of our great country I thought it would be an appropriate time to take a quick look at the history of income taxes in the U.S. The U.S. Treasury website has a page titled: Fact Sheet: Taxes - History of the U.S. Tax System - that you might find interesting.
It is hard for me to imagine things without taxes being part of the equation, but as you can see the U.S. income tax system didn't exist with any permanency until the 16th amendment was ratified by the requisite number of states in 1913. With this version of income taxes being 96 years old there are still people living that might be able to imagine a world without them. We've come a long way since the days when rates ranged from 1 to 7 percent.
With that it is now time to celebrate the 233rd anniversary of America's independence. Have a fun and safe holiday weekend.