Olyne B Lastinger (1913 - 1994)



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Olyne B Lastinger Biography & Family History

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Sarasota, Sarasota County, Florida

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1913 - In the year that Olyne B Lastinger 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.

1934 - When this person 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.

1940 - Olyne was 27 years old when on November 5th, President Franklin Roosevelt was elected to a third term, defeating Wendell Willkie of Indiana (a corporate lawyer). Roosevelt running for a third term was controversial. But the U.S. was emerging from the Great Recession and he promised that he would not involve the country in any foreign war (which of course changed when Japan bombed Pearl Harbor). Roosevelt defeated Willkie in the popular vote by 54.7 to 44.8% and in the Electoral College 449 to 82.

1988 - This person was 75 years old when on December 16th, 1988 the popular film Rain Man was released. Featuring Dustin Hoffman and Tom Cruise. this film brought attention to autistic savants and was based on the "megasavant" Laurence Kim Peek. The film would later go to win four Oscars including Best Picture, Best Original Screenplay, Best Director and Best Actor in a Leading Role.

1994 - In the year of Olyne B Lastinger's passing, on May 6th, former political prisoner, lawyer, and activist Nelson Mandela was elected the first black President of South Africa. He was 75 when he was elected and he served one five-year term.

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Olyne B Lastinger passed away on October 23, 1994 at 81 years old. No cause of death has been entered for Olyne. Olyne was born on April 16, 1913. There is no information about Olyne's immediate family. We know that Olyne B Lastinger had been residing in Sarasota, Sarasota County, Florida.


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