(Natural News) In 1913, when enough states ratified the 16th Amendment, the federal government began collecting an income tax on the country’s wealthiest Americans as a means of financing, moving away from the primary source of revenue at the time, tariffs. The very first income tax was levied in 1861 in order to finance the […]

(Natural News) New York Rep. Thomas Suozzi said that he’s exploring the idea of a one-time tax on the wealth of the richest Americans. The congressman’s statement comes as Democrats seek to increase taxes on the rich in order to pay for spending priorities. Talking to the Hill on Friday, June 11, Suozzi, a member of […]

(Natural News) A group of California state lawmakers have proposed a state wealth tax aimed at roughly 30,400 residents that they believe could raise $7.5 billion – but it could well have the opposite effect as the state’s wealthiest residents flee the state in droves. Under the proposal, the tax rate would be set at […]