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Legal History Of Income Tax In The United States
Taxation of income in the United States has been practised since colonial times. Some southern states imposed their own taxes on income from property, both before and after Independence. The Constitution empowered the federal government to raise taxes at a uniform rate throughout the nation, and required that "direct taxes" be imposed only in proportion to the Census population of each state. Federal income tax was first introduced under the Revenue Act of 1861 to help pay for the Civil War. It was renewed in later years and reformed in 1894 in the form of the Wilson-Gorman tariff. Legal challenges centered on whether the income tax then in force constituted a "direct tax". In the '' Springer v. United States'' case of 1881, the Supreme Court upheld the tax regime then in force. A 1894 statute was ruled unconstitutional in the case of '' Pollock v. Farmers' Loan and Trust Company''.'' Pollock v. Farmers' Loan & Trust Co.'', , ''affirmed on rehearing'', In response, the Sixteenth ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Income Tax
An income tax is a tax imposed on individuals or entities (taxpayers) in respect of the income or profits earned by them (commonly called taxable income). Income tax generally is computed as the product of a tax rate times the taxable income. Taxation rates may vary by type or characteristics of the taxpayer and the type of income. The tax rate may increase as taxable income increases (referred to as graduated or progressive tax rates). The tax imposed on companies is usually known as corporate tax and is commonly levied at a flat rate. Individual income is often taxed at progressive rates where the tax rate applied to each additional unit of income increases (e.g., the first $10,000 of income taxed at 0%, the next $10,000 taxed at 1%, etc.). Most jurisdictions exempt local charitable organizations from tax. Income from investments may be taxed at different (generally lower) rates than other types of income. Credits of various sorts may be allowed that reduce tax. Some jurisdictio ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Revenue Act Of 1862
The Revenue Act of 1862 (July 1, 1862, Ch. 119, ), was a bill the United States Congress passed to help fund the American Civil War. President Abraham Lincoln signed the act into law on July 1, 1862. The act established the office of the Commissioner of Internal Revenue, a department in charge of the collection of taxes, and levied excise taxes on most items consumed and traded in the United States. The act also introduced the United States' first progressive tax with the intent of raising millions of dollars for the Union. Background The American Civil War commenced in 1861 with the secession of many southern states (the group known as the Confederate States of America) from the United States (also known as the Union). In the early stages of the war, the Union believed that the conflict would be a relatively quick and easy victory.Thorndike, Joe. An Army of Officials: The Civil War Bureau of Internal Revenue. Tax History Project. TaxAnalysits, 21 Dec. 2001. Web. 25 Mar. 2013. T ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Government
The federal government of the United States (U.S. federal government or U.S. government) is the national government of the United States, a federal republic located primarily in North America, composed of 50 states, a city within a federal district (the city of Washington in the District of Columbia, where most of the federal government is based), five major self-governing territories and several island possessions. The federal government, sometimes simply referred to as Washington, is composed of three distinct branches: legislative, executive, and judicial, whose powers are vested by the U.S. Constitution in the Congress, the president and the federal courts, respectively. The powers and duties of these branches are further defined by acts of Congress, including the creation of executive departments and courts inferior to the Supreme Court. Naming The full name of the republic is "United States of America". No other name appears in the Constitution, and t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
American Civil War
The American Civil War (April 12, 1861 – May 26, 1865; also known by other names) was a civil war in the United States. It was fought between the Union ("the North") and the Confederacy ("the South"), the latter formed by states that had seceded. The central cause of the war was the dispute over whether slavery would be permitted to expand into the western territories, leading to more slave states, or be prevented from doing so, which was widely believed would place slavery on a course of ultimate extinction. Decades of political controversy over slavery were brought to a head by the victory in the 1860 U.S. presidential election of Abraham Lincoln, who opposed slavery's expansion into the west. An initial seven southern slave states responded to Lincoln's victory by seceding from the United States and, in 1861, forming the Confederacy. The Confederacy seized U.S. forts and other federal assets within their borders. Led by Confederate President Jefferson ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Federalist Papers
''The Federalist Papers'' is a collection of 85 articles and essays written by Alexander Hamilton, James Madison, and John Jay under the collective pseudonym "Publius" to promote the ratification of the Constitution of the United States. The collection was commonly known as ''The Federalist'' until the name ''The Federalist Papers'' emerged in the 20th century. The first 77 of these essays were published serially in the '' Independent Journal'', the ''New York Packet'', and ''The Daily Advertiser'' between October 1787 and April 1788. A compilation of these 77 essays and eight others were published in two volumes as ''The Federalist: A Collection of Essays, Written in Favour of the New Constitution, as Agreed upon by the Federal Convention, September 17, 1787'', by publishing firm J. & A. McLean in March and May 1788. The last eight papers (Nos. 78–85) were republished in the New York newspapers between June 14 and August 16, 1788. The authors of ''The Federalist'' intende ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pseudonym
A pseudonym (; ) or alias () is a fictitious name that a person or group assumes for a particular purpose, which differs from their original or true name (orthonym). This also differs from a new name that entirely or legally replaces an individual's own. Many pseudonym holders use pseudonyms because they wish to remain Anonymity, anonymous, but anonymity is difficult to achieve and often fraught with legal issues. Scope Pseudonyms include stage names, User (computing), user names, ring names, pen names, aliases, superhero or villain identities and code names, gamer identifications, and regnal names of emperors, popes, and other monarchs. In some cases, it may also include nicknames. Historically, they have sometimes taken the form of anagrams, Graecisms, and Latinisation (literature), Latinisations. Pseudonyms should not be confused with new names that replace old ones and become the individual's full-time name. Pseudonyms are "part-time" names, used only in certain contexts – ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Alexander Hamilton
Alexander Hamilton (January 11, 1755 or 1757July 12, 1804) was an American military officer, statesman, and Founding Father who served as the first United States secretary of the treasury from 1789 to 1795. Born out of wedlock in Charlestown, Nevis, Hamilton was orphaned as a child and taken in by a prosperous merchant. He pursued his education in New York before serving as an artillery officer in the American Revolutionary War. Hamilton saw action in the New York and New Jersey campaign, served for years as an aide to General George Washington, and helped secure American victory at the Siege of Yorktown. After the war, Hamilton served as a delegate from New York to the Congress of the Confederation. He resigned to practice law and founded the Bank of New York. In 1786, Hamilton led the Annapolis Convention to replace the Articles of Confederation with the Constitution of the United States, which he helped ratify by writing 51 of the 85 installments of '' The Federa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Federalist No
The term ''federalist'' describes several political beliefs around the world. It may also refer to the concept of parties, whose members or supporters called themselves ''Federalists''. History Europe federation In Europe, proponents of deeper European integration are sometimes called Federalists. A major European NGO and advocacy group campaigning for such a political union is the Union of European Federalists. Movements towards a peacefully unified European state have existed since the 1920s, notably the Paneuropean Union. A pan-European party with representation in the European Parliament fighting for the same cause is Volt Europa. In the European Parliament the Spinelli Group brings together MEPs from different political groups to work together of ideas and projects of European federalism; taking their name from Italian politician and MEP Altiero Spinelli, who himself was a major proponent of European federalism, also meeting with fellow deputies in the Crocodil ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Property Tax
A property tax or millage rate is an ad valorem tax on the value of a property.In the OECD classification scheme, tax on property includes "taxes on immovable property or net wealth, taxes on the change of ownership of property through inheritance or gift and taxes on financial and capital transactions" (see: ), but this article only covers taxes on realty. The tax is levied by the governing authority of the jurisdiction in which the property is located. This can be a national government, a federated state, a county or geographical region or a municipality. Multiple jurisdictions may tax the same property. Often a property tax is levied on real estate. It may be imposed annually or at the time of a real estate transaction, such as in real estate transfer tax. This tax can be contrasted to a rent tax, which is based on rental income or imputed rent, and a land value tax, which is a levy on the value of land, excluding the value of buildings and other improvements. Under ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tax Per Head
A poll tax, also known as head tax or capitation, is a tax levied as a fixed sum on every liable individual (typically every adult), without reference to income or resources. Head taxes were important sources of revenue for many governments from ancient times until the 19th century. In the United Kingdom, poll taxes were levied by the governments of John of Gaunt in the 14th century, Charles II of England, Charles II in the 17th and Margaret Thatcher in the 20th century. In the United States, voting poll taxes (whose payment was a precondition to voting in an election) have been used to Disenfranchisement after the Reconstruction Era, disenfranchise impoverished and minority voters (especially under Reconstruction Era, Reconstruction). By their very nature, poll taxes are considered regressive. Many other economists brand them as highly harmful taxes for low incomes (100 monetary units of a fortune of 10,000 represent 1% of said wealth, while 100 monetary units of a fortune o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Congress
The United States Congress is the legislature of the federal government of the United States. It is bicameral, composed of a lower body, the House of Representatives, and an upper body, the Senate. It meets in the U.S. Capitol in Washington, D.C. Senators and representatives are chosen through direct election, though vacancies in the Senate may be filled by a governor's appointment. Congress has 535 voting members: 100 senators and 435 representatives. The U.S. vice president The vice president of the United States (VPOTUS) is the second-highest officer in the executive branch of the U.S. federal government, after the president of the United States, and ranks first in the presidential line of succession. The vice pr ... has a vote in the Senate only when senators are evenly divided. The House of Representatives has six non-voting members. The sitting of a Congress is for a two-year term, at present, beginning every other January. Elections are held every even-n ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
