I couldn't find the article i had read a few years ago, but I did find this....The first income tax in 1862 applied only to those with a wage of over $600 a year which was the standard deduction. In today's dollars it would be about $15,000.I had read that when income taxes were first instituted, the STANDARD DEDUCTION, was equivalent to $68,000 in today's dollars. Income tax was never meant to hit the middle class or lower, I suppose?Tax expenditures equals "Tax Write offs", in other words, have a FLAT progressive tax rate, and not have all of these things that are deductible through the long form.... maybe a lower "progressive tax rate" where everyone is treated the same as far as not having all of these things that can be written off to lower their tax rate
I would like to see a flat income tax rate on all income earned in excess of $50,000 a year.
I should have said PERSONAL EXEMPTION, instead of Standard Deduction, and since the 16th amendment was passed....but here is what I did find, the personal exemption in 1913 was $3000/$4000 for married people.
and i did find an inflation chart where it shows $3000 in 1913 is the equivalent to $71, 823 in today's worth, and $4000 is worth for an exemption today $95,764.
US Inflation Calculator
Historical Individual Income Tax Parameters
then it shows, AFTER personal exemptions are taken, from $0 to $20,000 the tax rate was 1% on taxable income, and that in today's dollars would mean from $0 to $478,822.22 was taxed at a 1% tax rate.