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To: Mouton

In the Napoleonic Wars and the War of 1812 the imports and tariff taxes in the United States plummeted and the Congress in 1812 brought back the excise tax on whiskey to partially compensate for the loss of customs/tariff revenue. Within a few years customs duties brought in enough federal income to again abolish nearly all federal taxes except tariffs. When the United States public debt was finally paid off in 1834 President Andrew Jackson zeroed out the excise taxes and reduced the customs duties (tariffs) in half.

Excise taxes stayed essentially zero till the American Civil War brought a need for much more federal revenue.


11 posted on 06/11/2013 5:35:48 AM PDT by outpostinmass2
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To: outpostinmass2

Correct, my error, I was referring to tariffs.


18 posted on 06/11/2013 6:08:56 AM PDT by Mouton (108th MI Group.....68-71)
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