“Corporations use all sorts of complex stratagems to move their profits overseas, and thus escape the U.S. income tax.” MovingTaxesIncome Tax Author:T.R. Reid
“President Trump repeatedly says that "America is the highest-taxed country in the world." This is an alternative fact. We pay less in taxes, and our government spends less, as a share of our total wealth, than our counterparts in Western Europe and East Asia. But Trump is right when it comes to corporate tax rates; the U.S. corporate income tax right is among the highest in the world.” WorldCountryPresidentWealthShareTaxesWesternRateIncome Tax Author:T.R. Reid
“It used to be that we taxed property - zapped farmers basically. And there were very rich people who didn't pay that much tax. So in 1913, they put in the income tax. It was incredibly popular. The tax we love to hate today.” PeopleTodayHateRichTaxesPropertyFarmersRich PeopleIncome TaxLove Hate Author:T.R. Reid
“The income tax only taxed the Rockefellers, the Morgans and the Vanderbilts. It was aimed at the top 4 percent, and the top rate then in 1913, was 7 percent. Woodrow Wilson had a big ceremony and said, "I'm delighted to be president at the creation of this popular new tax."” PresidentCreationTaxesRateCeremonyIncome Tax Author:T.R. Reid
“It was an easy thing to tax for a young country. And then gradually we moved to property taxes, manufacturing taxes, and the income tax was the answer to a populist demand: Let's go after the rich guys. We got into World War I, and they raised the rates and started taxing the rich. Then we got into World War II, and that's when they taxed everybody, because they just needed more revenue.” WorldWarCountryGuyEasyRichTaxesMovedPropertyRateWar Of The WorldsWorld War IiWorld War IIncome TaxPopulist Author:T.R. Reid
