1. Progressive Income Tax
The tax served its purpose in supplementing revenue during the Civil War and World War I, but continued taking from Americans" income in peacetime, allowing fewer dollars to be spent on goods and services. ... Prior to the Civil War, the vast majority of government funds came from tariffs on imports. The only exception was during the War of 1812, when blockades by the British, as well as the war being with the young country's number one trade partner, lowered income from tariffs. Government revenues were accompanied by funds from the sale of public lands, such as the Louisiana Territory a...
- Word Count: 2725
- Approx Pages: 11
- Has Bibliography
- Grade Level: High School