The year was 1895 and the US Supreme Court had just declared Income Tax as unconstitutional. For this reason changes had to be made to the Constitution to make it legal again. If you were not aware of this historical fact, it would be definitely worth your while to enroll in one of our accredited online MBA programs, which covers the history of the Income Tax in the US, amongst other interesting topics.
Enrolling for the best online MBA program will help you to understand how each US State was taxed proportionately according to its population prior to 1894. In that year Congress decided to impose a flat rate throughout the country, resulting in dissent and protests, leading the way for Congress to rule that this was unconstitutional, in 1895. You can learn more about this through the MBA program we have lined up for you.
What can be more entertaining than having flats to rent in Cape Town or cruising along the highway in your hyundai Scottsdale, you may ask? Well, securing your future by means of securing a place in our MBA program certainly beats having to worry about your financial income from here onwards!
You will learn how the US governments from 1896 until 1910 relied heavily on elevated taxes for it’s revenues. Beer, tobacco and even chewing gum were taxed at a premium to fund conflicts during that time, such as the Spanish – American War.
It was in 1902 that most of the Acts decreeing taxes and levies were removed and this led to a budget surplus of around $77 million when comparing total tax receipts and total Federal spending.
Learn more here about how the Federal Reserve manages to keep spending at 1.7% of US’s GDP and how this allows Americans to breathe easier knowing that the Federal Government is not only able to survive a budget surplus on tax and spending but also maintain these levels. We could certainly learn a thing or two about the early 1900 knows that today’s federal taxation and spending would certainly have caused a ripple in the financial markets at that time with a rate of 1.7% of GDP.
We know that becoming a vet tech was always within your heart but open up your mind to our online MBA program to broaden your perspectives and seek what you really want to be doing with your life. Apply now for an online MBA without Gmat to learn how all the amendments to our Constitution have still not touched base with reality and the present by still not declaring Income Tax as legal and binding!