Temporary (Very Permanent) Things The Government Does And The Orders It Passes.

Author: yellowgenius19

Description: It's For Your Safety And Protection.

Will there be a covid-health Act?
Will measures like limits on group assembly or evening curfews be started?
Will temperature checks to enter a building, use puplic transit, airlines, even a taxi or UBER begin?
Will names and phone numbers be needed to enter any building?
Will school dances and Prom be a thing of the past?

The Patriot Act (which includes the TSA)
The DOJ revealed in 2015 that in 14 years, the mass surveillance capabilities authorized by Section 215 of the Patriot Act hadn’t helped solve any major terrorism cases since it’s inception and there hasn’t really been anything since.

The initial income tax did indeed target just the rich. The income tax rate in 1913 was just one percent on income up to $20,000, the first bracket threshold. The personal exemption (the maximum amount of income not subject to tax) was $3,000 for a single person and $4,000 for a married couple. Since the average household income at the time was just $687 per year, not many people paid income taxes (only 4 percent of income earners were liable for any income tax).

The top income tax bracket in 1913 started at a whopping $500,000 of income and was at a rate of just seven percent. The total tax revenues to the feds that year were about $71 million, with John D. Rockefeller paying the most at around $2 million himself. The new income tax was meeting its promises to have the rich bear the burden.

It wasn’t long before they raised tax rates and lowered exemptions, subjecting more people from the lower and middle classes to income taxes. Needing more revenues for funding of World War I expenses, in 1918 the personal exemption was lowered to $1,000 while the tax rate for incomes up to $4,000 was tripled to six percent. Income tax rates for incomes above $500,000 soared to 76 percent.

Under Franklin D. Roosevelt in 1944 the top rate skyrocketed to 94 percent on incomes over $200,000. Even the lowest bracket was increased to a 23 percent rate while the personal exemption was decreased to just $500. Many more workers were now subject to the income tax since the median income that year was $2,595. Since then, income and payroll taxes have significantly impacted the lower classes.

Today the federal tax rate starts at 10 percent for incomes in excess of the personal exemption of $12,400 for a single person or $24,800 for married couples. The top rate is historically low at 37 percent. It may seem that things are better today, but a fairer comparison would be to look at the income thresholds and exemptions on an inflation-adjusted basis.

Using an online inflation calculator we can determine what the original brackets and exemptions would have been today, adjusting for inflation since 1913: The personal exemptions of $3,000 for singles and $4,000 for married couples would be nearly $77,000 and $103,000 today respectively. The first bracket threshold of $20,000 would be over $516,000 today.

Imagine if these were our income tax rates and brackets now. A single person making less than $77,000 would pay no taxes. If they made more than that, income over that amount and up to $516,000 would have a tax rate of just one percent! That would amount to just $4,400 in taxes on taxable income of $516,000. That same individual today would pay nearly $87,000 in federal income taxes, over nineteen times as much as in 1913!

Social security taxes are no different. When first implemented in 1935, the tax rate was just 2 percent on income up to $3,000, split evenly between employee and employer. Now it is 12.4 percent on income up to $137,700! On top of that, they impose Medicare taxes of 2.9 percent on 100 percent of income—for a total payroll tax of 15.3 percent on middle class incomes!