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Michael Toscano 1913 - 1981

Michael Toscano of Carteret, Middlesex County, NJ was born on November 29, 1913, and died at age 68 years old in December 1981.

Michael Toscano

Carteret, Middlesex County, NJ 07008

November 29, 1913

December 1981

Male

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Michael Toscano Michael Toscano (1913 - 1981)

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Michael Toscano's History: 1913 - 1981

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11/29

1913

Birthday

November 29, 1913

Birthdate

Unknown

Birthplace

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12/dd

1981

Death

December 1981

Death date

Unknown
Cause of death

Unknown
Death location

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Michael Toscano lived 6 years shorter than the average family member when died at the age of 68.

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Michael Toscano lived 6 years shorter than the average family member when died at the age of 68.

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In 1913, in the year that Michael Toscano 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 1935, he was 22 years old when on August 14, the Social Security Act was signed into law. The purpose was to "provide federal assistance to those unable to work". The law established the Social Security Administration whose primary focus was to "provide aid for the elderly, the unemployed, and children". The Act survived many Supreme Court challenges and the Administration continues until today.

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