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The $100,000 bill is a part of the 1934 gold certificate series, comprising also $100, $1,000, and $10,000 notes. [ 6 ] A 1934 issue of the $100,000 bill with the serial number, A00000001A as showcased in the National Museum of American History.
In addition to the Federal income tax, John probably pays state income tax, Social Security tax, and Medicare tax. The Social Security tax in 2007 for John is 6.2% on the first $97,500 of earned income (wages), or a maximum of $6,045. There are no exclusions from earned income for Social Security so John pays the maximum of $6,045.
The $500, $1,000, $5,000 and $10,000 denominations were last printed in 1945 and discontinued in 1969, making the $100 bill the largest denomination banknote in circulation. A $1 note was added in 1963 to replace the $1 Silver Certificate after that type of currency had been discontinued. Since United States Notes were discontinued in 1971 ...