History of the US Income Tax

Our modern income tax goes back 100 years to the ratification of the 16th amendment on February 3, 1913 by 3/4s of the states. The amendment was passed by Congress on July 2, 1909 during the height of the progressive movement. The first form 1040 for 1913 was due March 1, 1914 for the period March 1 to December 31 of the previous year. The highest rate on taxable income was 6% on amounts over $500,000. For the first $50,000 of taxable income, the rate was 1%. Single filers had an exemption of $3,000 and joint filers had an exemption of $4,000 so probably 90% of income earners in the US paid no income tax at all. What amazes me is that the income tax was really just on the very wealthy if you factor in inflation and also at a very low rate as compared to today. The exemption of $4,000 in 2013 dollars would be $94,400 (2259.6% rate of inflation). The 1% rate applied to the first $1,180,000 in taxable income after converting $50,000 to today's dollars which means that 99.99% of taxpayers paid at the top rate of 1%  in 1913. I say let's go back to the 1913 rates and exemptions.