Tax On Individuals
A normal tax and a surtax were levied against the net income of individuals as shown in the following table:
| Revenue Act of 1928 Normal Tax and Surtax on Individuals 45 Stat. 795 |
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| Net Income (dollars) |
Normal Rate (percent) |
Surtax Rate (percent) |
Combined Rate (percent) |
| 0 | 1.5 | 0 | 1.4 |
| 4,000 | 3 | 0 | 3 |
| 8,000 | 5 | 0 | 5 |
| 10,000 | 5 | 1 | 6 |
| 14,000 | 5 | 2 | 7 |
| 16,000 | 5 | 3 | 8 |
| 18,000 | 5 | 4 | 9 |
| 20,000 | 5 | 5 | 10 |
| 22,000 | 5 | 6 | 11 |
| 24,000 | 5 | 7 | 12 |
| 28,000 | 5 | 8 | 13 |
| 32,000 | 5 | 9 | 14 |
| 36,000 | 5 | 10 | 15 |
| 40,000 | 5 | 11 | 16 |
| 44,000 | 5 | 12 | 17 |
| 48,000 | 5 | 13 | 18 |
| 52,000 | 5 | 14 | 19 |
| 56,000 | 5 | 15 | 20 |
| 60,000 | 5 | 16 | 21 |
| 64,000 | 5 | 17 | 22 |
| 70,000 | 5 | 18 | 23 |
| 80,000 | 5 | 19 | 24 |
| 100,000 | 5 | 20 | 25 |
Read more about this topic: Revenue Act Of 1928
Famous quotes containing the words tax on, tax and/or individuals:
“I have no doubt that it was a principle they fought for, as much as our ancestors, and not to avoid a three-penny tax on their tea; and the results of this battle will be as important and memorable to those whom it concerns as those of the battle of Bunker Hill, at least.”
—Henry David Thoreau (1817–1862)
“As a Tax-Paying Citizen of the United States I am entitled to a voice in Governmental affairs.... Having paid this unlawful Tax under written Protest for forty years, I am entitled to receive from the Treasury of “Uncle Sam” the full amount of both Principal and Interest.”
—Susan Pecker Fowler (1823–1911)
“It contributes greatly towards a man’s moral and intellectual health, to be brought into habits of companionship with individuals unlike himself, who care little for his pursuits, and whose sphere and abilities he must go out of himself to appreciate.”
—Nathaniel Hawthorne (1804–1864)