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During the Civil War, the US government faced a huge problem: funding the war. In 1862, they introduced the first federal income tax (3-5%). By 1864, rates soared and tariffs hit record highs (47.5%). A financial double-edged sword to win the war. #CivilWar #USTaxHistory #IncomeTax #AmericanHistory #FiscalPolicy | Manifest History
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