jan 1, 1894 - Congress Enacts a 2-Percent Income Tax

Description:

Graduated Income Tax (Finance #3): The Democrats passed a 2-percent income tax (or "flat tax") on those earning $4,000 or more annually. This was less than 1-percent of the population at the time. Everyone with an income over $4,000 paid the same 2-percent tax rate.

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