HUMOR
AND HISTORY
Coming to the New World…….
When
Hernando Cortes landed in the New World, he brought horses,
soldiers – and his accountant. Recent historical research
has highlighted Alonso De Avila, who kept the books for the
Cortes army. As a reward for excellent service, he was made
the first mayor of Veracruz, in what is now Mexico.
Which
administration brought about the first federal income tax?
It was during the Lincoln administration in the middle
of the Civil War that the first tax on income was levied by
Congress -- in the Internal Revenue Act of 1862. The rates ranged
from 3 to 5 percent. Congress eliminated the tax in 1872.
When
did the federal income tax become a permanent institution?
It has been permanent since 1913, with the passage of
the 16th Amendment. As established in that year, the bottom
rate was 1 percent on taxable net income over $3,000 for an
individual, $4,000 for a married couple. The top rate, for those
making more than $500,000, was 7 percent.
The
government that robs Peter to pay Paul can always depend on
the support of Paul.
George Bernard Shaw
Tax
avoidance means that you hire a $250,000-fee lawyer, and he
changes the word ‘evasion’ into the word ‘avoidance.’
Franklin D. Roosevelt
[A tax loophole is] something that benefits the other guy. If
it benefits you, it is tax reform.
Russell B Long, US Senator
What
is the difference between a taxidermist and a tax collector?
The taxidermist takes only your skin.
Mark Twain
The
government’s view of the economy could be summed up in
a few short phrases: If it moves, tax it. If it keeps moving,
regulate it. And if it stops moving, subsidize it.
Ronald Reagan
The
hardest thing in the world to understand is the income tax.
Albert Einstein
