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On this day: August 5

Published On: Jul 19 2013 05:59:14 PM CDT   Updated On: Aug 05 2013 01:00:00 AM CDT

The Mayflower departs England, the first electric traffic signal is installed, Marilyn Monroe dies, the Beatles release "Revolver," and President Reagan fires striking air-traffic controllers, all on this day.

OTD August 5 - 1861 tax
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1861: Seeking to help fund the Civil War, the United States government levies the first income tax as part of the Revenue Act of 1861, taxing all incomes over $800 at a 3-percent rate. Lacking an effective enforcement mechanism, the income tax provision would be repealed in 1862 and replaced with a more expansive bill in the Revenue Act of 1862.

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