Kind of tax authorized by the 16th Amendment

Kind of tax authorized by the 16th Amendment - INCOME
Kind of tax authorized by the 16th Amendment

The 16th Amendment to the United States Constitution, which was ratified in 1913, authorized the federal government to levy a tax on income. This kind of tax, commonly known as an income tax, allows the government to collect a percentage of an individual’s or corporation’s earnings or profits. The income tax is a progressive tax system, meaning that people who earn more money typically pay a higher percentage of their income in taxes than those who earn less. The income tax is an important source of revenue for the federal government, providing the funds necessary to pay for a wide range of programs and services, including national defense, healthcare, and education.

INCOME