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Lincoln imposes first federal income tax: Aug. 5, 1861 – Andrew Glass – POLITICO.com

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On [August 5,] 1861, in order to finance the Civil War, President Abraham Lincoln signed the Revenue Act, imposing the first federal income tax in U.S. history.

Before asking Congress to act, Lincoln sent letters to cabinet members Edward Bates, Gideon Welles and Salmon Chase requesting their views as to whether the president had the constitutional authority to “collect [such] duties.” The president also expressed concern about the potential need to replace revenue from ports along the Southeastern seaboard, which he feared might fall under Confederate control.

The Revenue Act defined income as gain “derived from any kind of property, or from any professional trade, employment, or vocation carried on in the United States or elsewhere or from any source whatever.”

via Lincoln imposes first federal income tax: Aug. 5, 1861 – Andrew Glass – POLITICO.com.

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Written by voiceoftruthusa

July 11, 2015 at 3:39 am

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