The federal income tax was first introduced under the Revenue Act of 1861 to help defray war costs. Congress repealed the tax in 1871 when the need for government revenue declined, only to restore it in 1894 as part of the Wilson-Gorman Tariff Act. The public policy debate surrounding the constitutionality of the income tax […]
Obstructions to tax simplicity
Thanks to the beneficence of the federal government (and the calendar), we Americans have until midnight on April 18 to file our income taxes. It’s too bad filing taxes wasn’t an easier process. President Trump has pledged to reform our tax code, which, to most people, currently reads like a foreign language. Mr. Trump said […]