Most people aren’t big fans of a national income tax, but it was on this day back in 1861 that the first one was levied by the new President, Abraham Lincoln.
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April 15 is marked each year as the traditional day people need to file their taxes, so it’s not exactly celebrated as a holiday. But how did April 15 become the big day–and how did we get the IRS in the first place?
The price you pay for items bought on the Internet could be heading up, after the U.S. Supreme Court decided on Monday to stay out of a fight over adding Internet sales taxes to consumer purchases.
On Tuesday, the Supreme Court will debate, behind closed doors, if Americans should be forced to pay a sales tax on almost items they buy on the Internet.
Ronald Coase, who died on Monday at the age of 102, was one of the most influential thinkers in American law during the past century, even though he was an economist, not a lawyer.