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Politics : Formerly About Advanced Micro Devices
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To: combjelly who wrote (851064)4/27/2015 8:17:44 PM
From: TimF  Read Replies (1) of 1578742
 
Since the founding of the Republic, it has always an aspect of taxing the wealthy at a higher rate.

There is no federal wealth tax at any rate. Income is taxed (and the wealthy pay a higher rate), but that is hardly a "since the founding for the Republic thing" There wasn't any federal income tax until the Civil War and it was eliminated in 1868. There wasn't a "continual" income tax until 1913. Hardly the era of the founding of the Republic.

In the early days of the republic the federal government got by on sales taxes on tariffs (then they dropped the internal sales taxes and just relied on the tariffs until the Civil War). The rich (either by income or wealth) didn't pay a higher rate.
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