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Loretta M Reddy 1913 - 1995

Loretta M Reddy of Staten Island, Richmond County, NY was born on January 1, 1913, and died at age 82 years old on May 18, 1995.

Loretta M Reddy

Staten Island, Richmond County, NY 10314

January 1, 1913

May 18, 1995

Female

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Loretta M Reddy Loretta Reddy (1913 - 1995)

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Loretta M Reddy's History: 1913 - 1995

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01/1

1913

Birthday

January 1, 1913

Birthdate

Unknown

Birthplace

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05/18

1995

Death

May 18, 1995

Death date

Unknown
Cause of death

Unknown
Death location

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Loretta M Reddy lived 10 years longer than the average family member when died at the age of 82.

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Loretta M Reddy lived 10 years longer than the average family member when died at the age of 82.

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In 1913, in the year that Loretta M Reddy 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 1929, she was 16 years old when on October 29th (Black Tuesday), the stock market crashed in the United States. Billions of dollars were lost and some investors committed suicide as a result, having lost their fortunes. This ushered in the 12 year, worldwide Great Depression.

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