History of Taxes in the US and the Fiscal Cliff
Lucas EavesPublished: 08 Nov, 2012
1 min read
Now that President Obama has been elected and the campaigning has ended, the President will have to find solution regarding the upcoming fiscal cliff.
The President will have to chose between different measures to reduce the budget and the deficit. One of them will be to change the taxes on incomes, capital gains, dividends, or corporations. Raising income taxes is always unpopular and the debates in the Congress will be heated. The following infographic, created by Turbo Tax, gives us an overview of how incomes taxes evolved over the years and that our ancestors were in a much worse situation.
Credit: http://turbotax.intuit.com/
You Might Also Like
EXCLUSIVE: California Commissioner Says Lawmakers Gutted Their Funding BEFORE Prop 50
The fate of California’s independently drawn congressional districts will be decided on November 4, when voters weigh in on a legislative gerrymander and the suspension of congressional maps from the state's independent Citizens Redistricting Commission (CRC) under Proposition 50....
08 Oct, 2025
-
8 min read
Poll Shows Overwhelming Support for Opening Florida’s Primaries to 3.4M Independent Voters
A new statewide poll finds near-unanimous agreement among both Democratic and independent voters that Florida’s primaries should be opened to the state’s 3.4 million “No Party Affiliation” (NPA) voters who are currently shut out of taxpayer-funded elections....
10 Oct, 2025
-
3 min read
California Prop 50: Partisan Power Play or Necessary Counterpunch?
November 4 marks a special election for what has become the most controversial ballot measure in California in recent memory: Proposition 50, which would circumvent congressional districts drawn by the state’s independent redistricting commission for a legislative-drawn map....
01 Oct, 2025
-
9 min read