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Margaret Wirth 1907 - 1995

Margaret Wirth of Lincoln Park, Wayne County, MI was born on May 15, 1907, and died at age 88 years old on May 17, 1995.

Margaret Wirth

Lincoln Park, Wayne County, MI 48146

May 15, 1907

May 17, 1995

Female

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Margaret Wirth Margaret Wirth (1907 - 1995)

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Margaret Wirth's History: 1907 - 1995

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05/15

1907

Birthday

May 15, 1907

Birthdate

Unknown

Birthplace

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05/17

1995

Death

May 17, 1995

Death date

Unknown
Cause of death

Unknown
Death location

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Margaret Wirth lived 13 years longer than the average family member when died at the age of 88.

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Margaret Wirth lived 13 years longer than the average family member when died at the age of 88.

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Did you know?

In 1907, in the year that Margaret Wirth was born, in October, over a 3 week period, the New York stock exchange fell almost 50% from the previous year's high mark. Public panic ensued and there were runs on banks since the U.S. was in the middle of a recession. J.P. Morgan offered his own fortune to back the banks and he was followed by other financiers. This temporarily shored up the banking system, stopping the immediate panic. All of this led to the creation of the Federal Reserve.

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In 1913, Margaret was merely 6 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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