Write a brief history of the federal income tax in the United States. Your description should reference dates and constitutional/political issues, if any

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The United States first used an income tax in 1861 to help finance the Civil War. This tax was repealed in 1871 . In 1894, Congress attempted to institute another federal income tax but the Supreme Court ruled that the income tax was unconstitutional because it was a direct tax and was not distributed among the states according to population as the Constitution required. Popular support in favor of a larger federal government increased the incentive to institute a federal income tax, given its revenue raising capabilities. In 1913, a Constitutional amendment was passed to allow the creation of a federal income tax. Thus the current federal income tax system dates back to 1913, although the system has undergone tremendous changes during the twentieth century, including expansions during both World Wars and major tax reforms in 1964 and 1986.

Economics

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Refer to the table above. What is the market demand for wine when the price is $3?

A) 50 units B) 35 units C) 66 units D) 28 units

Economics

In the table above, in terms of units of pizza, real income is

A) lower in case A than in cases B and C. B) lower in case B than in cases A and C. C) lower in case C than in cases A and B. D) equal in all three cases.

Economics

The market interest rate

a. represents the opportunity cost of investing with borrowed funds b. has no impact on the firm's investment decision if the firm uses borrowed funds c. represents the opportunity cost of investing with savings d. has no impact on the firm's investment decision if the firm uses savings e. represents the opportunity cost of investing with either borrowed funds or savings

Economics

What is intra-industry

a. trade in different goods between two countries b. trade in the same company between countries c. trade in the same industry between two countries d. trade in different goods in different countries

Economics