Income tax II in 1188 to raise money for the Third Crusade. The tithe demanded that each layperson in England and Wales be taxed one tenth of their personal income and moveable property. The inception date of the modern income tax is typically accepted as 1799, at the suggestion of Henry Beeke, the future Dean of Bristol. This income tax was introduced into Great Britain by Prime Minister William Pitt the Younger in his budget of December 1798, to pay for weapons and equipment for the French Revolutionary War. Pitt's new graduated (progressive) income tax began at a levy of 2 old
Income inequality in the United States and by permitting large accounting firms to receive payments from smaller businesses in exchange for helping these businesses reduce their tax burden. He says that this redistributes large sums of money that would otherwise be taxed to individuals who are already wealthy yet contribute nothing to society in order to obtain this wealth. He further argues that since a large portion of corporate income is reinvested in the business, taxing corporate income amounts to a tax on reinvestment, which he says should be left untaxed. He concludes that eliminating the corporate income tax, while needing to be offset by revenue