First Form 1040
Hopefully most of you have completed and mailed your tax returns to Uncle Sam by now. Because of our renovation project (we don’t know where anything is!) we requested an extension. But I thought I’d share with you a piece of American history that might make you smile — or grimace, depending on how many forms you needed to complete this year.
In 1913, Wyoming ratified the 16th Amendment, providing the three-quarter majority of states necessary to amend the Constitution. The 16th Amendment gave Congress the authority to enact an income tax. That same year, the first Form 1040 appeared after Congress levied a 1 percent tax on net personal incomes above $3,000 with a 6 percent surtax on incomes of more than $500,000. My how times have changed.
The original form 1040, four pages long including one page of instructions, was a far cry from what we have to read, interpret and complete today to help assure that our government can fund its programs and “redistribute our wealth.” Take a look at the form (in pdf format) — I’d guess most folks completed theirs in short order — and dream of the good ol’ days.
Reader Comments (4)
Thanks for the post. It shows how government has grown insatiable in its desire to "mother" the weak. It is creating a society of veal-fed calves while at the same time breaking our colective bank.
Effective illustration as well -- just how I feel after signing my return.
That is me in the picture, at least that is how I feel. 1%! Amazing!
Why have they made it so complicated today? It could be simple, even today. How about a flat tax?
You may get your wish if Hillary makes it to the White House. But the flat tax will be 40%! Mark my words.