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George A Skees 1913 - 1999

George A Skees of Elizabethtown, Hardin County, KY was born on January 30, 1913, and died at age 86 years old on March 5, 1999.

George A Skees

Elizabethtown, Hardin County, KY 42701

January 30, 1913

March 5, 1999

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George A Skees George Skees (1913 - 1999)

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George A Skees' History: 1913 - 1999

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01/30

1913

Birthday

January 30, 1913

Birthdate

Unknown

Birthplace

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03/5

1999

Death

March 5, 1999

Death date

Unknown
Cause of death

Unknown
Death location

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George A Skees lived 14 years longer than the average family member when died at the age of 86.

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George A Skees lived 14 years longer than the average family member when died at the age of 86.

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In 1913, in the year that George A Skees 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.

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In 1934, by the time he was 21 years old, on June 6th, the U.S. Securities and Exchange Commission was formed as a response to the stock market crash of 1929 and the continuing Great Depression. Previously, the states regulated the offering and sales of stocks - called "blue sky" laws. They were largely ineffective. Roosevelt created a group (one member was Joseph Kennedy, father of the future President Kennedy) who knew Wall Street well and they defined the mission and operating mode for the SEC. The new organization had broad and stringent rules and oversight and restored public confidence in the stock market in the United States.

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George Skees' Family Tree & Friends

George Skees' Family Tree

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George A Skees Jan 30, 1913 - Mar 5, 1999

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