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Domenic Sabatini 1901 - 1967

Domenic Sabatini of Depue, Bureau County, Illinois was born on November 27, 1901, and died at age 65 years old in June 1967.

Domenic Sabatini

Depue, Bureau County, Illinois 61322

November 27, 1901

June 1967

Male

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Domenic Sabatini Domenic Sabatini (1901 - 1967)

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Domenic Sabatini's History: 1901 - 1967

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11/27

1901

Birthday

November 27, 1901

Birthdate

Unknown

Birthplace

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06/dd

1967

Death

June 1967

Death date

Unknown
Cause of death

Unknown
Death location

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Domenic Sabatini lived 10 years shorter than the average family member when died at the age of 65.

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Domenic Sabatini lived 10 years shorter than the average family member when died at the age of 65.

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In 1901, in the year that Domenic Sabatini was born, John Pierpont "J. P." Morgan created U.S. Steel. J.P. Morgan was an American banker and financier who dominated U.S. business at this time. He had previously overseen the creation of General Electric, as well as International Harvester and AT&T. He has been referred to as America's greatest banker. U.S. Steel was the first billion dollar company in the world, worth $1.4 billion in 1901.

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In 1913, he was merely 12 years old when ratified in February the 16th Amendment, establishing a Federal income tax, became law. Previously, customs duties (tariffs) and excise taxes were the primary sources of federal revenue. With the passage of the 16th Amendment, incomes of couples exceeding $4,000, as well as those of single persons earning $3,000 or more, were subject to a 1% Federal tax (that would be about $98,000 and $74,000 now). Rates rose to 7% for incomes over half a million dollars. Less than 1% of the population was subject to income tax.

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