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In order to help pay for its war effort in the American Civil War, the United States government imposed its first personal income tax, on August 5, 1861, as part of the Revenue Act of 1861. Tax rates were 3% on income exceeding $600 and less than $10,000, and 5% on income exceeding $10,000. [ 8 ]
Capitation taxes, also known as poll taxes, were initially created in the 1890s. Poll taxes are a fixed tax on individuals, regardless of income; voters must pay the tax before they are permitted to cast a ballot. These taxes were occasionally paired with literacy tests to prove qualification to vote. [3]
During the period from 1796 until the Civil War, a unifying principle developed: "the taxation of all property, movable and immovable, visible and invisible, or real and personal, as we say in America, at one uniform rate." [67] During this period, property taxes came to be assessed based on value. This was introduced as a requirement in many ...
The decision in Springer went further in declaring that all income taxes were indirect taxes—or more specifically, "within the category of an excise or duty." [42] However, in 1895 income taxes derived from property such as interest, dividends, and rent (imposed under an 1894 Act) were treated as direct taxes by the Supreme Court in Pollock
The Revenue Act of 1861, formally cited as Act of August 5, 1861, Chap. XLV, 12 Stat. 292, included the first U.S. Federal income tax statute (see Sec. 49).The Act, motivated by the need to fund the Civil War, [1] imposed an income tax to be "levied, collected, and paid, upon the annual income of every person residing in the United States, whether such income is derived from any kind of ...
The Finance Committee bill met with opposition on the Senate floor. The House bill sought to raise $150 million in taxes, and to borrow another $150 million (if necessary). But the Finance Committee bill raised $200 million in taxes and another $100 million via the issuance of United States Notes and silver certificates. Another Finance ...
The US Military Academy Army Base West Point, located in West Point, New York, was opened in 1790 and is the oldest US service academy for commissioning officers into the US Army. 1. Carlisle ...
Congress quickly approved Lincoln's request to assemble a 500,000-man army, but initially resisted raising taxes to pay for the war. However, after the Union defeat at the First Battle of Bull Run in July, Congress passed the Revenue Act of 1861 , which imposed the first federal income tax in U.S. history.