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Facts Forum News, Vol. 5, No. 12, December 1956
File 015
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Facts Forum. Facts Forum News, Vol. 5, No. 12, December 1956 - File 015. 1956-12. University of Houston Libraries. University of Houston Digital Library. Web. September 25, 2017. http://digital.lib.uh.edu/collection/1352973/item/699/show/644.

Disclaimer: This is a general citation for reference purposes. Please consult the most recent edition of your style manual for the proper formatting of the type of source you are citing. If the date given in the citation does not match the date on the digital item, use the more accurate date below the digital item.

Facts Forum. (1956-12). Facts Forum News, Vol. 5, No. 12, December 1956 - File 015. Facts Forum News, 1955-1956. University of Houston Libraries. Retrieved from http://digital.lib.uh.edu/collection/1352973/item/699/show/644

Disclaimer: This is a general citation for reference purposes. Please consult the most recent edition of your style manual for the proper formatting of the type of source you are citing. If the date given in the citation does not match the date on the digital item, use the more accurate date below the digital item.

Facts Forum, Facts Forum News, Vol. 5, No. 12, December 1956 - File 015, 1956-12, Facts Forum News, 1955-1956, University of Houston Libraries, accessed September 25, 2017, http://digital.lib.uh.edu/collection/1352973/item/699/show/644.

Disclaimer: This is a general citation for reference purposes. Please consult the most recent edition of your style manual for the proper formatting of the type of source you are citing. If the date given in the citation does not match the date on the digital item, use the more accurate date below the digital item.

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Title Facts Forum News, Vol. 5, No. 12, December 1956
Series Title Facts Forum News
Creator
  • Facts Forum
Publisher Facts Forum
Date December 1956
Language eng
Subject
  • Anti-communist movements
  • Conservatism
  • Politics and government
  • Hunt, H. L.
Place
  • Dallas, Texas
Genre
  • journals (periodicals)
Type
  • Text
Identifier AP2.F146 v. 5 1956; OCLC: 1352973
Collection
  • University of Houston Libraries Special Collections
  • Energy & Sustainability Research Collection
Rights No Copyright - United States: This item is in the public domain in the United States and may be used freely in the United States. The item may not be in the public domain under the copyright laws of other countries.
Item Description
Title File 015
Transcript By WILLIAM HENRY CHAMBERLIN Alexander Hamilton perhaps i\ spoke more wisely than he **• •*■ realized when he referred to the power to tax as the power to destroy. Neither in Hamilton's time lor in the nineteenth century were extreme taxation burdens imposed in free and civilized countries. 'Ihe right H a man to retain the property which 'le might earn eir inherit xxas taken for panted as one nl the natural rights which figure so largely in the thinking of the Founding Fathers "I the American Republic. There xxas no general income tax in the United States until 1862. And the fates of taxation during the- Civil War, (lie most desperate emergency in American history, were unbelievably ftlild bv modern standards: 3 per cent "ii incomes from $600 to $10,000, and moderately progressive rates above *10,()(K). The whole idea of a tax on income xvas thrown emt the window '1 1872 as inconsistent with the- American ideal nl unlimited personal opportunity. An attempt to levy a 2 per Wit tax on incomes in 1894 was de- Bared unconstitutional. <>nl> alter the Passing of the Sixteenth Amendment (o th,- Constitution in 1913 was the Principle- of the federal income tax ■irmly imbedded in tbe United State-s fiscal s\ stein. Facts Forum News, December, 1956 It was a very thin opening end of thc wedge. The original standard rate of income tax was 1 per cent, with exemptions of $3,000 for single and $4,000 for married persons. (Of course, these exemptions are much higher than they would be at present, because of the severe depreciation in the purchasing power of the dollar.) There was a surtax of 1 per cent to 6 per cent on incomes in excess of $20,000 (the equivalent of about $53,000 at the present time). There was a similar development in Great Britain. Only the Boer War. at the end of the nineteenth century, brought the income tax up to one shill ing em the pound (5 per cent). Gladstone, the great leader of the British Liberals in the- second half nl the nineteenth century, wanted to abolish the income (ax altogether and reduced it at one time to twopence on the pound (less than 1 per cent). Notwithstanding what might have seemed the innocuously low rates xxhicli we're set after the introduction of income tax in the United States, voices of warning were raised against ihe principle of a levy which placed all the earnings of American eiti/e-ns at the mercy of politicians, most of them with the politician's instinctive impulse to spend. Senator Benja min Harvey Hill warned that the new tax would enable the government "to make all property and rights, all states and people, and all liberty and hope, its playthings in an hour ancl its victims forever." Representative William Bourke Cochrane of Nexx York declared in 1894 that "democratic institutions must perish from the face of the earth if they cannot protect the fruits of human industry wherever they are, or in whatever proportion they may beheld by the citizens." Increase of Over 300 to One The fantastic growth of yield from the personal income tax is illustrated by one striking comparison. The new- levy brought in $80 million in the first year of its imposition. Current yield is $31.2 billion. Of course, in the intervening period, population ancl real wealth have grown and tbe value of money has declined. But not in such steep proportion as over 300 to one — the- relation between the current take of income tax and what was levied in 1914. This increased appropriation by tbe State of the fruits of the labor of its citizens, or subjects, is a world-wide trend, with one paradoxical exception. (Continued on page 40) Page 13
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