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Revenue Act of 1918

The trigger event for this post was a Newsweek post about Princeton removing U.S. President Woodrow Wilson’s name from the name of a building on campus. Woodrow Wilson is remembered as a racist. Carbonic LLC at the https://carbonicprod.wpengine.com/ blog post named https://carbonicprod.wpengine.com/2020/06/28/revenue-act-of-1918/. The gist of this post is that We the People must pass an Income Tax Amendment to our Constitution designed to eliminate Income Tax and replace it with a Sales Tax.

800px-Thomas_Woodrow_Wilson,Harris&_Ewing_bw_photo_portrait,_1919

President Woodrow Wilson

Some people are calling for of U.S. President Woodrow Wilson’s name to be treated as a defacement which must be removed by the institutions from all public and private buildings. We the People must remove Wilson’s defacement of the American People which is the Revenue Act of 1918.

At the next U.S. Constitutional Convention, by Amendment we must eliminate our Income Tax and replace it with a Universal Sales Tax designed to reduce the National Debt with a surtax. ????

Tax Act of 1918

https://en.wikipedia.org/wiki/Revenue_Act_of_1918

(the following is a slightly edited copy from Wikipedia

The act simplified the tax structure created by the 1917 act. Instead of applying a “like normal tax” and a “like additional tax” to the 1916 act normal tax and additional tax the 1917 Act, which was signed by President Wilson created a single tax structure with a Normal Tax and a Surtax.

The top rate was increased to 77%, and applied to income above $1,000,000. The top rate of the War Revenue Act of 1917 had taxed all income above $2,000,000 at a 67% rate.

The act was applicable to incomes for 1918. For 1919 and 1920 the top normal tax rate was reduced from 12 percent to 8%. This reduced the top marginal tax rate that combined normal tax and surtax from 77% to 73%.

Even in 1918, only 5% of the population paid federal income taxes (up from 1% in 1913), and yet the income tax funded one-third of the cost of World War I.

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