Joe Barton: “If we go on down and look at these numbers again, it is very difficult to see from the Chamber, but if we had over…”

“If we go on down and look at these numbers again, it is very difficult to see from the Chamber, but if we had over $20,000 of net income, we paid an additional 1 percent. If we had over $50,000, we paid 2 percent. And it goes down. Then if we had over $500,000 of net income back in 1914, we paid the horrendous rate of 6 percent. That was the first income tax collected on the American taxpayers by the Federal Government back in 1914. Since that time, the marginal rate has not stayed at 1 percent. It is now over 40 percent. That is an increase of 4,000 percent. The time has come to do something about that.”