1913 The tax was finally established in the Sixteenth Amendment to the United States Constitution, ratified in 1913. A personal income tax was levied in 1861, by an Act which was repealed in 1872. Another Tariff Act in 1894 imposed income tax again, but was ruled impractical.
The USA established marginal income tax rates of 77% in 1916 to fund the war effort in World War I. What were they reduced to by 1929, shortly before the Wall Street crash?
In 1963, US President Johnson imposed a 25 % tax (almost 10 times the average) on potato starch, dextrin, brandy, and light trucks, resulting in VW vans and pickups disappearing from the U.S. market. Why?
