Posts Tagged ‘income tax’

First off, I hate the Kindle.

Second off, I love used books. It is a sort of obsession of mine. I have over 600 books at my tiny apartment in Old Town Alexandria. I finally have enough shelving to hold them all. For over four months stacks of books were just piled on the floor in some kind of maniacal mimicry of a fiend’s library in medieval Europe. I even have a book worth over $500 dollars according to Bookfinder.com.

The reason why I chose to post about old books is really because of my latest purchase.

Some background: I got rid of my car, which was one of my New Year resolutions, so I walk home from the metro everyday and I sometimes purchase books at this wonderful used book store on King Street. I like to browse the philosophy and new age sections randomly for a few minutes at least until something catches my eye. I also got rid of cable. It is hoping helping me focus on the important things like the band, continuing my quest for knowledge, developing iPhone apps, and bettering my lifestyle.

So my last purchase was a book called A Dictionary of American Politics circa 1892 which is an A-Z account of the current definitions, persons, places, sayings of importance at that time. A snapshot still frame in history.

I was flipping through this book on my couch this evening when I came upon the entry ‘Income Tax‘. It states the following (direct quote):

Income Tax–An income tax has been levied by the United States government but once in its history, and then it was established because of the necessity for revenue caused by the Civil War. An act passed in 1861 created a tax of 3 percent, on incomes of $800 dollars per annum and over. The rates of taxation, the amounts of the income taxed, and the proportion of the income exempt from taxation, were changed by various acts till in 1872 it was abolished.

Doesn’t it sound amazing? No income tax! Abolished in 1872? What history is this? I really could not believe what I was reading, I even tried to take a picture of the passage with my iPhone, but I forgot how bad the camera is on the thing, so I guess you will have to trust me that this is legit. Much like the trust we have in our current income tax structure.