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$1913$ was the first year that Americans were required to pay income tax. Attached you will find the first Form $1040$ used in $1913.$

I would like for you to calculate how much tax one would pay in $1913$ if their taxable income $($line $7)$ was $$15,000.$ Use box $8$ to

calculate the tax.

Also calculate their tax if their taxable income was $$49,000($line $7).$ Use box $8$ to calculate the tax. $($The answer is NOT $$490)$

What would be the effective tax rate on $$49,000?($Calculate by taking total tax liability and dividing by $$49,000)$ The answer is

NOT $1\mathrm{.}0\%$

How much tax would a single person pay today if their taxable income was $$49,000?$ Use tax table below.

What would be this person's effective tax rate? $($Calculate by taking the total tax and dividing by $$49,000).$

What are your thoughts when comparing tax on $$49,000$ in $1913$ vs $\mathrm{.}2019.$ Keep in mind that $$49,000$ in $1913$ would be equivalent

to over $$1$ million today. What do our tax dollars pay for today?

Single$-2019$

If taxable income is but not

the tax is:

over$-$

$$0$

$$9,700$

$$39,475$

$$84,200$

$$160,725$

$$204,100$

$$510,300$

$$9,700$

$ $39,475$

$$84,200$

$$160,725$

$$204,100$

$$510,300$

no limit

$10\%$ of the amount over $$0$

$$970$ plus $12\%$ of the amount over $$9,700$

$$4,543$ plus $22\%$ of the amount over $$39,475$

$$14,382$ plus $24\%$ of the amount over $$84,200$

$$32,748$ plus $32\%$ of the amount over $$160,725$

$$46,628$ plus $35\%$ of the amount over $$204,100$

$$153,798$ plus $37\%$ of the amount over $$510,300$

FOR THE YCAR $1913,$ FBOM MARCH $1,$ TO DECEMDER $34]$

Filed be $($or for$)$

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