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Editor's Letter

On Eve of Its 100th Birthday, Time to Revisit the Federal Income Tax

It's called balancing the equation

Burdened by the growing cost of federal pensions, the lingering cost of war, a sluggish economy and the largest budget deficit in U.S. history, Washington politicians and the public finally agreed: They needed an income tax.* The arguments may sound familiar. An income tax was "simply a means for the redistribution of wealth," powerful senator Nelson Aldrich, R-R.I., charged. No, Rep. William H. Murray, D-Okla., replied, the new tax would "tap the surplus" of wealthy Americans' income "over and above that amount necessary for good living." … Back to Article

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