In the New Deal, FDR called for a new tax program called the Revenue Act of 1935, which imposed an income tax of 79% on incomes over $5 million. This tax rate affected literally one person: John D. Rockefeller.
Facebook co-founder Eduardo Saverin, a native of Brazil…
Facebook co-founder Eduardo Saverin, a native of Brazil, renounced his US citizenship to avoid paying $700 million in taxes
The IRS was supposed to be a temporary measure…
The IRS was supposed to be a temporary measure. Its only period of suspension to date has been 1872-1894.
Medals won by US Olympians are considered earned…
Medals won by US Olympians are considered earned income and therefore subjected to an IRS taxation – up to 39%.