As its name implies, this act was designed to increase the amount of money the government had at its disposal. In , gas was taxed at a rate of 1 cent per gallon. Taxing investment income might seem particularly counterproductive since investment is necessary for economic growth , but that hasn't stopped the government from including it under its wide umbrella of taxable income.
Capital gains taxes were enacted in , along with the income tax. They reappeared in and have persisted ever since. History is full of tax rebellions.
Back in , taxes sparked Americans to destroy three shiploads of British tea. And in , Alexander Hamilton's proposed excise tax on alcohol was enough to prompt the Whiskey Rebellion in Pennsylvania.
The question is, what lies ahead for tax reform? Internal Revenue Service. Accessed March 24, Tax Foundation. Social Security Administration. Congressional Research Service. Public Health Service. World Population Review. Alcohol and Tobacco Tax and Trade Bureau. Department of Transportation. Energy Information Administration. American Petroleum Institute.
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Your Practice. Popular Courses. Fiscal Policy Tax Laws. Table of Contents Expand. America Before Income Taxes.
Income Taxes. Tax Rates, Then and Now. Sin Taxes. Gasoline Taxes. Investment Taxes. Key Takeaways The Constitution gave Congress the power to impose taxes and other levies on the general public. While the Civil War led to the creation of the first income tax in the U. Many of the taxes we pay today were created in the s and s including the estate tax, gift tax, and Social Security taxes.
January 3, Library of Congress Manuscript Division. Print Resources The following titles link to fuller bibliographic information in the Library of Congress Online Catalog. Hill Call Number: HB1. Dunbar Call Number: HB1. Schmeckebier Call Number: HJ Available online from Hathi Trust External.
Federal Taxation in America by W. Grote Call Number: HJ G76 I77 Joseph Call Number: KF J67 Table of contents. Taxation in the United States Baltimore by Henry C. Adams Call Number: H Internet Resources These freely available online resources provide additional information on the topic. Electronic Resources Online Catalog Library of Congress The subscription resources marked with a padlock are available to researchers on-site at the Library of Congress.
If you are unable to visit the Library, you may be able to access these resources through your local public or academic library.
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At the Representatives of the United States, the Soviet Union and Great Britain sign the Nuclear Test Ban Treaty, which prohibited the testing of nuclear weapons in outer space, underwater, or in the atmosphere. The treaty was hailed as an important first step toward the control of
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