The original 1913 income tax was 1% for people with incomes above $3,000 (about $80,000 today) and 6% on $500,000 or more ($13 million). About 3% of the population was taxed. Just keep that in mind when Democrats lie and say the wealth tax will remain targeted at just the top.

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The original 1913 income tax was 1% for people with incomes above $3,000 (about $80,000 today) and 6% on $500,000 or more ($13 million). About 3% of the population was taxed. Just keep that in mind when Democrats lie and say the wealth tax will remain targeted at just the top. (www.berkson.net)

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Probably enough powerful people benefitting from various angles that it wouldn't make it to a vote. Kind of like term limits. Wildly popular -- even many long term Congress people supposedly support them -- but nothing is ever done. On that issue, and this one, I'd say that clearly the people who "want" these regulations, don't.

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