From 2% to Everyone? How Income Taxes Expanded Over Time
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When the U.S. income tax was introduced in 1913, it was marketed as a “millionaires tax” — expected to impact only about 2% of the population, with rates as low as 1% to 7%. More than a century later, tax rates now range much higher, and far more Americans are affected. 📊 Then vs now: Originally targeted at a small percentage of high earners Early rates between 1% and 7% Modern tax brackets and rates significantly expanded The shift raises a broader question about how tax policy evolves over time — and what that could mean for future proposals. 👉 How did a limited tax grow over time? 👉 And what could come next? #tax #economy #history #usa #shorts #taxes #finance #government #policy #explained