|View single post by Texas Defender|
|Posted: Mon Sep 10th, 2012 11:04 pm||
Of course in the years leading up to the Civil War, there was no federal income tax. Federal Revenues came for the most part through indirect taxation.
First, I'll cite a passage from the maligned Wikepedia source:
Tariffs in United States history - Wikipedia, the free encyclopedia
This gap was created by my ineptitude in replacing: "Excise Taxes in United States history" with: "Tariffs in United States History." The passage cited was identical in both.
In the paragraph titled: "Historical Background," there is this passage: "Customs duties as set by tariff rates up to 1860 were usually about 80-95% of all federal revenue."
This is corroborated by this source:
In the second paragraph there is this: "For the 30 years from 1831 to 1860 the tariffs amounted to about 84% of federal revenues, but during the 1850s tariffs amounted to 90% of the federal revenue. As the ports in the south had the most traffic, they paid 75% of all tariffs in 1859."
If these numbers are correct, then about 2/3 of federal revenues in the 1850s came from tariffs collected in southern ports. As the southern states had very limited manufacturing capacity, much more had to be imported by them than by the northern states.
Federal State Local Government Revenue in United States for 1860 - Charts Tabl
Last edited on Mon Sep 10th, 2012 11:39 pm by Texas Defender