Something not mentioned in today’s cartoon or comments: the tax rate on earnings for those in the highest brackets does not apply to ALL of their annual income. The amounts not taxed varies by annual declared income level. There are many web sites which display income tax rates from the year 1913 — when the 16th Amendment authorizing income tax in the US was passed — through to the present. For example, from the bradfordtaxinstitute dot com:
In 1913, the States ratified the 16th Amendment, instituting the federal income tax. The 1913 tax looks nothing like it looks today. For example, where the actual form and directions fit on a mere four pages in 1913, they total an intimidating 106 pages today.
1. Click here to see the 1913 IRS Form 1040.
2. Click here to see the latest IRS Form 1040.
The tax law, like almost all laws, grows as lawmakers use it for pork, try to make it fairer, use it to stimulate a sector of the economy, or just want to raise revenue.
If you’re in business for yourself, you have a lot of control over how much you pay in taxes. Learn how to reduce your taxes – legally – with a free, no-obligation 7-day trial subscription to the Tax Reduction Letter. Sign up here.
As Will Rogers said: “The difference between death and taxes is death doesn’t get worse every time Congress meets.”
In 1913, the top tax bracket was 7 percent on all income over $500,000 ($11 million in today’s dollars1); and the lowest tax bracket was 1 percent.
…
The Depression
Congress raised taxes again in 1932 during the Great Depression from 25 percent to 63 percent on the top earners.
World War II
As we mentioned earlier, war is expensive.
In 1944, the top rate peaked at 94 percent on taxable income over $200,000 ($2.5 million in today’s dollars3). That’s a high tax rate.
The 1950s, 1960s, and 1970s
Over the next three decades, the top federal income tax rate remained high, never dipping below 70 percent.
And it is all but impossible to know exactly how much money any individual is able to locate in an offshore bank which shields its customer accounts from foreign (in many if not most cases, the US government/IRS) disclosure. This money is hidden from the IRS and never taxed.
I can only speak to navy chow hall lingo from my time in the service. Did “slider” originate with White Castle, or did White Castle copy the name from the navy, or was the term first in use by an entirely different source?
I am delighted to be able to answer the question above.
I don’t know exactly when or where slider as a synonym for hamburger originated.
If the RWNJ obedient follower cohort hears something from a trusted source which totally contradicts the thing they heard another (or the same) trusted source say just an instant earlier, the RWNJ obedient follower cohort is immediately totally onboard with the new/different whatever.
If you’d asked me before this wild-a$$ed Russian financial amount was made public, I’d have said it may be impossible to exaggerate to a greater degree than normal Donald Trump assertions.
During my four year navy hitch in the latter half of the ‘70’s, the ship’s chow line offered a multi-course meal that was never the same two times in a row, and/or a quickie selection the same every meal: fries with either/both hamburgers or hot dogs.
But those selecting the latter option never said “Gimme a hamburger or gimme a hot dog, and the mess deck server never said “*Hamburger* or hot dog?” It was always slider or roller.
During my four year navy hitch in the latter half of the ‘70’s, the ship’s chow line offered a multi-course meal that was never the same two times in a row, and/or a quickie selection the same every meal: fries with either/both hot dogs or hamburgers.
But those selecting the latter option never said gimme a hamburger or gimme a hot dog, and the mess deck server never said “*Hamburger* or hot dog?” It was always slider or roller.
Please return to this site on every Veteran’s Day 2025-2028 and tell us how “entertained” you are as a result of Musk inputs on United States economic policies.
Something not mentioned in today’s cartoon or comments: the tax rate on earnings for those in the highest brackets does not apply to ALL of their annual income. The amounts not taxed varies by annual declared income level. There are many web sites which display income tax rates from the year 1913 — when the 16th Amendment authorizing income tax in the US was passed — through to the present. For example, from the bradfordtaxinstitute dot com:
In 1913, the States ratified the 16th Amendment, instituting the federal income tax. The 1913 tax looks nothing like it looks today. For example, where the actual form and directions fit on a mere four pages in 1913, they total an intimidating 106 pages today.
1. Click here to see the 1913 IRS Form 1040.
2. Click here to see the latest IRS Form 1040.
The tax law, like almost all laws, grows as lawmakers use it for pork, try to make it fairer, use it to stimulate a sector of the economy, or just want to raise revenue.
If you’re in business for yourself, you have a lot of control over how much you pay in taxes. Learn how to reduce your taxes – legally – with a free, no-obligation 7-day trial subscription to the Tax Reduction Letter. Sign up here.
As Will Rogers said: “The difference between death and taxes is death doesn’t get worse every time Congress meets.”
In 1913, the top tax bracket was 7 percent on all income over $500,000 ($11 million in today’s dollars1); and the lowest tax bracket was 1 percent.
…
The Depression
Congress raised taxes again in 1932 during the Great Depression from 25 percent to 63 percent on the top earners.
World War II
As we mentioned earlier, war is expensive.
In 1944, the top rate peaked at 94 percent on taxable income over $200,000 ($2.5 million in today’s dollars3). That’s a high tax rate.
The 1950s, 1960s, and 1970s
Over the next three decades, the top federal income tax rate remained high, never dipping below 70 percent.