Aug. 5, 1861: Needing cash to finance the Civil War, President Abraham Lincoln signed the Revenue Act — imposing the first federal income tax. Lincoln and Congress agreed that all incomes over $800 would be taxed at a 3 percent rate. Lincoln knew that taxes would be unpopular. But he recognized that America needed to pay for its wars.
On August 2, 1039, Einstein signed a letter to FDR warning him of the possibility of Germany developing an atomic bomb. RIGHT: Roosevelt's letter of response.