Happy birthday, modern tax system
http://lifeinc.today.com/_news/2013/02/ … &pos=7
By Dana Macario and Allison Linn, TODAY
The modern income tax system has been called a lot of things, and now it also can officially be called a centenarian.
The current tax system was formalized 100 years ago this month, when the 16th Amendment was ratified.
Before income taxes, the government was mainly getting its money from tariffs and sin taxes on things like alcohol and tobacco, said Joseph Thorndike, director of the Tax History Project at Tax Analysts.
I don't think many of us are happy for the milestone....
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