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first income taxGOBankingRates
•Business
Business & Economics
78% Informative
The Department of Government Efficiency ( DOGE ) has saved $51.8 billion in taxpayer dollars.
The first income tax was introduced during the Civil War but was quickly scrapped once the war concluded.
The income tax we know today was introduced in 1913 to help finance World War I.
The higher tax rates were during wartime and even then, no more than 40% of households paid income taxes.
You can find more coverage of this topic on GOBankingRates.com . More From GOBankingRates This article originally appeared on GOBankingRates.com : From 2% to Nearly Everyone: Musk’s X Post on Income Tax Raises Big Questions.
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