Thursday, October 3, 2013

A dark day in American history

Exactly 100 years ago today, the income tax amendment to the constitution became law.  Cato-@-Liberty has two good posts on the annivery of this dark day in Amercian history, both of which are worth reading.  Here's an excerpt from the first, by Chris Edwards:
Alexander Hamilton won in the end. As Treasury Secretary in the 1790s he championed an array of “internal” taxes to supplement federal revenues from import tariffs. Thomas Jefferson despised Hamilton’s internal taxes as an assault on liberty, and when elected in 1800 he made sure that they were abolished.
And one from the second, by Daniel Mitchell (an OLS hero, by the way!):
But allow me to suggest that today, October 3, should be a candidate for America’s worst day.
Why? Because on this day in 1913, one of America’s worst Presidents, Woodrow Wilson, signed into law the Revenue Act of 1913, which imposed the income tax.
Mitchell's post also includes this great diagram illustrating the tremendous growth in the tax code since 1913 (click to enlarge):