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#3160968 - 02/12/13 11:16 AM Happy 100th Birthday to the U.S. Income Tax
Wes Parrish
16 Point


Registered: 06/12/02
Posts: 19410
Loc: Knoxville-Dover-Union City, TN

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http://politicalcalculations.blogspot.co...ml#.URp532c8qSp

Take a look at see how much income tax you would have owed (or probably not owed) in 1913.

And you could have completed your "tax return" in less than two minutes all by yourself.

Also keep in mind that if you had an annual income of only $7,000 in 1913, that was the equivalent purchasing power (BEFORE taxes) of $162,339 annually today!!!

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#3160979 - 02/12/13 11:25 AM Re: Happy 100th Birthday to the U.S. Income Tax [Re: Wes Parrish]
Wes Parrish
16 Point


Registered: 06/12/02
Posts: 19410
Loc: Knoxville-Dover-Union City, TN

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Historical Inflation Calculator
http://data.bls.gov/cgi-bin/cpicalc.pl?cost1=7000&year1=1913&year2=2012

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#3160997 - 02/12/13 11:35 AM Re: Happy 100th Birthday to the U.S. Income Tax [Re: Wes Parrish]
preds1
12 Point


Registered: 10/16/09
Posts: 6475
Loc: Sumner County

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May be off topic a bit:

Acquaintence of a friend got $7,500 back this year.
Her live-in boyfriend got $6,000 back.

Between them both, I'd be surprised if they had much more than $500 taken out of their pay stubs.

Keep working fellas. ;\)



Edited by preds1 (02/12/13 11:36 AM)

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#3161014 - 02/12/13 11:49 AM Re: Happy 100th Birthday to the U.S. Income Tax [Re: preds1]
Wes Parrish
16 Point


Registered: 06/12/02
Posts: 19410
Loc: Knoxville-Dover-Union City, TN

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 Originally Posted By: preds1
May be off topic a bit:

Not at all.

Our current income tax system has become a very corrupt way of politicians buying votes, while punishing honest tax-payers, rewarding the dishonest.

The U.S. income tax system is now a flawed concept, and needs to be totally replaced with a national sales tax (which would not apply to certain items such as food, and might only apply above a certain threshold on certain other items, such above $3,000 on an automobile). This would be incredibly efficient, while relatively hard for anyone to cheat, while having the built-in mechanism (equivalent to tax deductions and credits of the current income tax) of no or reduced sales tax on certain basic necessities which would greatly benefit low-income families. Not only that, we would pick up tax dollars from many illegals and tax cheats who currently don't pay income tax.

There is absolutely nothing that could more greatly stimulate our economy than replacing our national income tax with a national sales tax. This could alone could potentially solve our national debt crisis, while rewarding honest tax payers with lower taxes, forcing dishonest ones to pay their fair share, as well as picking up taxes from many people here illegally that have been able to avoid income taxes on their cash earnings.

But doing this would take much of the power away from politicians, and that seems to be the main reason this idea hasn't already been implemented. The President is opposed, the Senate is opposed, and the Congress is opposed, as well as a lot of other special interest groups who benefit from the current income tax code and their ability to lobby for special tax favors and exemptions.

Wouldn't it be nice to never again have to file a tax return?

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#3161060 - 02/12/13 12:30 PM Re: Happy 100th Birthday to the U.S. Income Tax [Re: Wes Parrish]
preds1
12 Point


Registered: 10/16/09
Posts: 6475
Loc: Sumner County

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I agree Wes. Pretty much ensures every American is contributing in some form or fashion.

Looks like mine have gone up 900% since 1913.


Edited by preds1 (02/12/13 02:19 PM)

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#3161076 - 02/12/13 12:41 PM Re: Happy 100th Birthday to the U.S. Income Tax [Re: preds1]
Wes Parrish
16 Point


Registered: 06/12/02
Posts: 19410
Loc: Knoxville-Dover-Union City, TN

Offline
 Originally Posted By: preds1
Pretty much ensure's every American is contributing in some form or fashion.
Yes, a national sales tax (replacing the income tax) would insure that everyone has at least SOME skin in the game, and maybe just as importantly, federal bureaucrats would be greatly prevented from playing their class warfare cards, and using the tax code to bribe constituents for their votes.

 Originally Posted By: preds1
Looks like mine have gone up 900% since 1913.

Did you back-adjust for inflation?

Don't use your current 2012 income for the calculation.
Adjust it to what it would have been (in terms of purchasing power) to the 1913 value.

In other words, if you had a gross salary of $162,339 in 2012, compare the income tax on $7,000 in 1913, to the current income tax on $162,339 in 2012.

Or, if you had a gross salary of $100,000 in 2012, that equated to gross salary of $4,312 in 1913.

Or, if you had a gross salary of $50,000 in 2012, that equated to gross salary of $2,156 in 1913.

You may find that going from having to have paid "zero" in 1913, it is now infinitely more today, i.e. more than 900% more.

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#3161197 - 02/12/13 02:20 PM Re: Happy 100th Birthday to the U.S. Income Tax [Re: Wes Parrish]
preds1
12 Point


Registered: 10/16/09
Posts: 6475
Loc: Sumner County

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Ahh, got it. I missed the link in your second post.
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#3161960 - 02/13/13 04:22 AM Re: Happy 100th Birthday to the U.S. Income Tax [Re: preds1]
nodog
4 Point


Registered: 08/12/12
Posts: 297
Loc: Ohio

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The history of this is interesting and longer than 100 years back. I nave a history book that gave an account of the birthday which if I remember was 1%. One opponent stood and said something like if this 1% tax is passed some day it will be 10%. It didn't take long for that to happen.

The question needs asked, how did the dollar lose so much of it's value? Government didn't do it. Government doesn't produce anything, it's reactionary meaning whatever it does it does because of cause. Always been that way and always been highly inefficient and grossly abusive of power, still the people give it cause and that cause is why the dollar has lost so much value.

If it wasn't for the causes that took place between 1899 and 1930 the huge government increase that took place afterward would never have happened.

This book is a very good account of the time.
http://www.goodreads.com/book/show/328063.The_Perils_of_Prosperity_1914_1932
_________________________
Hello

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#3162042 - 02/13/13 07:28 AM Re: Happy 100th Birthday to the U.S. Income Tax [Re: nodog]
Wes Parrish
16 Point


Registered: 06/12/02
Posts: 19410
Loc: Knoxville-Dover-Union City, TN

Offline
Here's another way of looking at it.

When someone earns a dollar, it immediately loses say 25% of its value because of the income taxes the earner owes on the dollar. Depending on the earner, the loss can be higher or lower than that 25%.

But it gets "progressively" worse.

Each time that someone down the line is paid with what's left of that dollar, their earnings are also taxed. Say, the first guy takes his remaining 75 cents and pays someone to cut his hair (haircuts used to cost 75 cents), well, now the barber has to pay taxes again on that 75 cents which started out as a dollar before taxes. Taxes are eating up America's productivity.

Some say we've come full circle and are now back to where we were in the 1700's with "taxation without representation" since the politicians are looking out for themselves more than for our country. Our country thrived economically with virtually no taxes prior to 1913. To whom is most of the benefit of these ever-increasing taxes going?

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