« Starting Friday, You Get to Work for Yourself | Main | Spending Addicts, Trial Balloons, and a VAT »

Thought for the Day

"The income tax laws in the nineteenth century applied to everyone. During the Civil Wars and in Napoleonic times, the income tax was essentially uniform, with the same or similar rates for all citizens. Then, with the advent of Marxism, high progressive tax rates for the rich were proposed, as a device to destroy capitalism. Finally, in 1894, Congress passed our first peacetime income tax. It was progressive not in its 2 percent rate, but in the fact that it exempted 98 percent of the population, and was simply class legislation against the rich. The idea of taxing only the rich and letting everyone else ride freely on the government was good politics in a democracy, because the vote of the top 2 percent was insignificant , , , ,"

   ~ Charles Adams, page 145, "Those Dirty Rotten Taxes: The Tax Revolts that Built America"

HT Barnes & Noble


TrackBack URL for this entry: