3 October 18

On this date in 1913, Woodrow Wilson signed the first U. S. income tax law! The Revenue Act of 1913, also known as the Tariff Act, the Underwood Tariff, the Underwood Act, the Underwood Tariff Act, or the Underwood-Simmons Act, included an income tax of ONE PERCENT on individual income over $3,000 ($4,000 for married couples). It also featured a progressive surtax ranging from 1 percent to 6 percent, depending on income. I think my play money tie is appropriate to mark this anniversary. If you need something less taxing to celebrate, today is also Look At The Leaves Day.