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Gilbert Baumann 1913 - 1974

Gilbert Baumann was born on February 1, 1913, and died at age 61 years old in August 1974. Family, friend, or fan, this family history biography is for you to remember Gilbert Baumann.

Gilbert Baumann

February 1, 1913

August 1974

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Gilbert Baumann Gilbert Baumann (1913 - 1974)

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Gilbert Baumann's History: 1913 - 1974

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02/1

1913

Birthday

February 1, 1913

Birthdate

Unknown

Birthplace

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08/dd

1974

Death

August 1974

Death date

Unknown
Cause of death

Unknown
Death location

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Gilbert Baumann lived 14 years shorter than the average family member when died at the age of 61.

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Gilbert Baumann lived 14 years shorter than the average family member when died at the age of 61.

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In 1913, in the year that Gilbert Baumann 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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Gilbert Baumann's Family Tree & Friends

Gilbert Baumann's Family Tree

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Gilbert Baumann Feb 1, 1913 - Aug 1974

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