Posted on October 03, 2013 |
Last week, my daughter celebrated her first birthday. Marking that important milestone for my family allowed me to reflect on the difference that just a year can make. Today I’m celebrating another important milestone for my family and for yours—the one hundredth birthday of our federal personal income tax—and reflecting on its benefits for all of us.
One hundred years ago today, President Wilson signed the Revenue Act of 1913 into law, giving birth to the personal income tax. Although that first personal income tax looked a lot different than it does today, its adoption signified an important shift in our country’s approach to raising revenue. In honor of this important birthday, here are two things to celebrate about the federal personal income tax—and one suggestion to make the next hundred years even better. Read more »
