The income tax has been the primary means of funding the federal government since 1913 when the 16th Amendment to the Constitution was adopted. It is a progressive tax on individual and corporate income, based on income levels. 43 states impose an income tax on individuals, while 47 states impose a tax on the income of corporations. Many municipalities and counties also levy income taxes on their residents.
Cry Wolf Quotes
I believe this will lead to a recession next year. This is the Democrat machine's recession, and each one of them will be held personally accountable.
For years now we have moved inexorably toward a larger and larger share of resources being absorbed by government. This has translated into a greatly expanded role for government in business, society in general, and in our personal lives. Obviously, this involvement has carried a price tag—which has translated into fewer resources available for more productive use in the private sector.
[The Court must] bring the Congress back to a true sense of the limitations of its powers….[such a tax on wealth will lead to] communism, anarchy, and then, the ever following despotism.
I protest against this betrayal of our ancient principals. I protest against this treason to our faith, to our platform, to our traditions, to our heroes. I protest against partial laws, whether they be intended to favor the few or the many. I demand for all men the same equality before the law which they enjoy in the sight of God….I demand now, as I have always demanded, one citizenship, one country, one law, one Democratic faith, one common plane of equality for all the people, without distinction of wealth, of birth, or race, or of creed!
Related Laws and Rules
Millionaire Migration and State Taxation of Top Incomes: Evidence From A Natural Experiment
The rich did not flee New Jersey wen the state raised tax rates on top earners by 2.6 percentage points.
Maryland Millionaires Vanish in the Face of Recession, Not Higher Taxes
Maryland's tax increases on the rich did not induce millionaire flight.
Conservative Commentator Examines the History of Right-Wing Tax Cut Hypocrisy
Hard right-wingers fear-monger in the face of tax increases of both Republican and Democratic administations.
Tax Cuts on the Rich Don't Spur Economic Growth
The Center for American Progress takes apart supply side myths.
The Number of High-Income Taxpayers Increased Significantly During a Period With 10 Percent and 11 Percent Tax Rates on High-Income Earners
After California raised taxes on the rich, the number of residents in the affected tax brackets rose as well.