Michael Vargo (1913 - 1972)

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Summary

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Michael Vargo Biography & Family History

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Timeline

1913 - In the year that Michael Vargo 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.

1923 - By the time he was just 10 years old, the A.C. Nielsen Company was founded in Chicago. It provided an audience measurement system that could provide radio station owners with information on their listeners and the popularity of their shows. Later, the Nielsen company became the basis for the fate of television programs.

1944 - By the time he was 31 years old, on June 22nd, the Servicemen's Readjustment Act of 1944, called the G.I. Bill, was signed into law, pushed through by the veteran's organizations. Benefits provided for veterans to return to school (high school, vocational school, or college), obtain low interest home mortgages and low interest business loans, and (if needed) one year of unemployment insurance. Since most returning vets immediately found work, less than 20% of the unemployment benefits were distributed.

1949 - When he was 36 years old, comedian Milton Berle hosted the first telethon show. It raised $1,100,000 for cancer research and lasted 16 hours. The next day, newspapers, in writing about the event, first used the word "telethon."

1972 - In the year of Michael Vargo's passing, on September 5th, the Palestinian terrorist group Black September, with the assistance of German neo-nazis, kidnapped and killed 11 Israeli athletes at the Olympic Games in Munich. The attackers crept into the Olympic Village and abducted the athletes while they were sleeping. A German policeman was also killed.

Michael Vargo Family Tree

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Obituary

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Michael Vargo passed away in March 1972 at 58 years of age. There is no known cause of death for Michael. He was born on September 18, 1913. There is no information about Michael's family or relationships.

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