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Edward Schatz (1913 - 1987)

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Edward Schatz
1913 - 1987
Born
May 25, 1913
Death
January 1987
Last Known Residence
Portland, Multnomah County, Oregon 97219
Summary
Edward Schatz was born on May 25, 1913. He died in January 1987 at 73 years old. We know that Edward Schatz had been residing in Portland, Multnomah County, Oregon 97219.
Updated: November 9, 2011
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Edward Schatz passed away in January 1987 at 73 years old. He was born on May 25, 1913. There is no information about Edward's family. We know that Edward Schatz had been residing in Portland, Multnomah County, Oregon 97219.
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Refresh this page to see various historical events that occurred during Edward's lifetime.

In 1913, in the year that Edward Schatz was born, 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.

In 1946, at the age of 33 years old, Edward was alive when pediatrician Dr. Benjamin Spock's book "The Common Sense Book of Baby and Child Care" was published. It sold half a million copies in the first six months. Aside from the Bible, it became the best selling book of the 20th century. A generation of Baby Boomers were raised by the advice of Dr. Spock.

In 1954, by the time he was 41 years old, from April 22 through June 17th, the Army v. McCarthy hearings were held. The U.S. Army accused Roy Cohn (chief counsel to Senator McCarthy and later trusted mentor of Donald Trump) of blackmail. McCarthy and Cohn accused the U.S. Army of harboring communists. The Army allegations were found to be true. The U.S. Senate later censured McCarthy.

In 1969, when he was 56 years old, one hundred countries, along with the United States and the Soviet Union signed the nuclear nonproliferation treaty (NPT). It called for stopping the spread of nuclear weapons, the peaceful use of nuclear energy, and the goal of nuclear disarmament.

In 1987, in the year of Edward Schatz's passing, on October 19th, stock exchanges around the world crashed. Beginning in Hong Kong then spreading to Europe, the crash then hit the United States. It was called Black Monday. The Dow Jones fell 508 points to 1,738.74 (22.61%).

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