16th Amendment to the US Constitution

“The Congress shall have power to lay and collect taxes on incomes, from whatever source derived, without apportionment among the several States, and without regard to any census or enumeration.”

Top tax rate rises to 77%

Top tier lowered to $1M

Rate drops to 25% by 1925

Top tier $1M @ 94%

Bottom Tier $500 @ at 23%

Income Tax Withholding

In the four decades following WWII

top tax rate was 70% or higher

creating a large middle class.

Congress now controls the purse strings of every person and corporation in the US.

State's Rights be damned !

Top rate rises

from 25%

to 79%

1861 First income tax

 fund Civil war

Repealed 1872

1981

Regan cuts top rate to 50% individual wealth grows for everyone

1986

Regan cuts top rate to 28% Lowers top bracket to $30,000 Rich get Richer

Everyone else gets poorer

1990's

top rate rises to 39.6%

US businesses begin outsourcing

more wealth moves to top .1% pop.

2018

Trump cuts rates for everyone

?

Click for details