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The history of taxation in the United States begins with the colonial protest against British taxation policy in the 1760s, leading to the American Revolution. The independent nation collected taxes on imports ( "tariffs" ), whiskey , and (for a while) on glass windows.
Tax rates were 3% on income exceeding $600 and less than $10,000, and 5% on income exceeding $10,000. [8] This tax was repealed and replaced by another income tax in the Revenue Act of 1862. [9] After the war when the need for federal revenues decreased, Congress (in the Revenue Act of 1870) let the tax law expire in 1873. [10]
A poll tax, also called a per capita tax, or capitation tax, is a tax that levies a set amount per individual. It is an example of the concept of fixed tax. One of the earliest taxes mentioned in the Bible of a half-shekel per annum from each adult Jew (Ex. 30:11–16) was a form of the poll tax. Poll taxes are administratively cheap because ...
History of taxation in the United States (18 P) Pages in category "History of taxation" The following 42 pages are in this category, out of 42 total.
Federal, State, and Local income tax as a percent GDP Federal income, payroll, and tariff tax history Taxes revenue by source chart history US Capital Gains Taxes history. In 1913, the top tax rate was 7% on incomes above $500,000 (equivalent to $15.4 million [97] in 2023 dollars) and a total of $28.3 million was collected. [98]
U.S. federal government tax receipts as a percentage of GDP from 1945 to 2015 (note that 2010 to 2015 data are estimated) Hauser's law is the empirical observation that, in the United States, federal tax revenues since World War II have always been approximately equal to 19.5% of GDP, regardless of wide fluctuations in the marginal tax rate. [1]
Several theories of taxation exist in public economics. Governments at all levels (national, regional and local) need to raise revenue from a variety of sources to finance public-sector expenditures .
Pages in category "History of taxation in the United States" The following 18 pages are in this category, out of 18 total. This list may not reflect recent changes .