It looks like in 2010 dollars the standard exemption for singles would have been $66,100, and for married filers $88,100. This is much higher than today's median, so few people would have even had to worry about a 1% tax. And, that means my marginal federal tax rate would have been 1% and my effective tax rate would have been about a half a percent. Plus state taxes, of course, if they existed. That is much better than my current marginal rate of 35% and effective rate over 30% (I think)...plus CA taxes at a marginal of 11.something and effective rate of around 10%.
I wonder if the value of the additional government is worth the additional tax I am paying for it...
R
1913 Dollars Inflation - BLS 2010 Dollars Exempt - 1913 Exempt - 2010
$3,000 2,200% $66,100* Single Filers $3,000 Singles $9,350 or 14.1%*
$4,000 2,200% $88,100* Married Filers $4,000 Marrieds $18,700 or 21.2%*
$20,000 2,200% $440,400
$50,000 2,200% $1,101,000
$75,000 2,200% $1,651,600
$100,000 2,200% $2,202,100
$250,000 2,200% $5,505,300
$500,000 2,200% $11,010,700
Note: All figures are rounded. In current dollars, the one 2010 personal exemption ($3,650) + standard deduction ($5,700) for single filers are together at $9,350, but a fraction, i.e., 14.1%, of the 1913 exemption of $66,100 in 2010 dollars (i.e., $9,350/$66,100). In current dollars, the two 2010 personal exemptions ($7,300) + standard deduction ($11,400) for married couples filing jointly are together at $18,700, but a fraction, i.e., 21.2%, of the 1913 exemption of $88,100 in 2010 dollars (i.e., $18,700/$88,100).
