History of the Income Tax

Crosstalk America from VCY America

April 15th is a day that has gone down in notoriety. On April 15, 1865, President Abraham Lincoln died. He was shot the night before in Ford's Theatre. On April 15, 1912, the Titanic sank, having struck an iceberg the night before. April 15, 1927, was the Great Mississippi Flood where some 15 inches of rain fell in 18 hours causing the river to break out of its levee system at well over 100 locations and caused flooding in 10 states. In 1954, April 15th became the deadline for filing income tax returns. No doubt you've heard the familiar quote of Benjamin Franklin who said, 'Our new Constitution is now established, everything seems to promise it will be durable- but in this world, nothing is certain except death and taxes.' --We have all come to realize the impact taxes have upon us, but are you aware of the history of the income tax and how it came about-- What was its purpose-- Is today's modern system of taxes a breach from what was originally intended--