Election 2024How We SurviveOffice PoliticsI've Always Wondered ...My Economy

Loading...

0:00
0% played
Stories Tagged as

Standard deduction

The history of income tax's standard deduction is more interesting than you think

by Aaron Schrank
May 9, 2017
We look back at the creation of the standard deduction, which President Trump is looking to double.
In 1944, the income tax system was getting pretty complex, so Congress created the standard deduction. Above, piles of tax forms are on display at a public library.
Tim Boyle/Getty Images
ListenLISTEN
HTML EMBED:
COPY
EMBED EMBED
Share Now on:
SHARE
Subscribe Using:
SUBSCRIBE SUBSCRIBE