11 years ago
1
America has low taxes …so why do people feel ripped off?
Today is the 100th anniversary of the federal income tax, which was signed into law by President Woodrow Wilson on October 3, 1913. To mark the occasion, Moyers & Company caught up with David Cay Johnston, who has probably forgotten more about our tax code than most economic experts ever knew.
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This author states that preWW2 individuals paid 38% and corporations paid 62% of income tax. Of course he conveniently ignores the state of the economy then,.......The Great Depression........