Tag: US national debt

  • Lloyd Lofthouse

    The Evolution of a National Burden – Part 4/7

    To pay off debt and fund the growing pains of a nation becoming an expanding global empire, Congress passed the 16th Amendment to the Constitution on February 3, 1913 establishing Congress’s right to impose a Federal income tax.

  • Lloyd Lofthouse

    The Evolution of a National Burden – Part 1/7

    The US was born in debt and every war added to the debt until the Reagan era when deficits exploded.