Raymond F Mcnaught (1913 - 1991)

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Raymond F Mcnaught Biography & Family History

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Middle name

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Gender

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Timeline

1913 - In the year that Raymond F Mcnaught 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 - At the age of only 10 years old, Raymond was alive when the Teapot Dome scandal became the subject of an investigation by Senator Walsh and severely damaged the reputation of the Harding administration. Secretary of the Interior Albert Bacon Fall was convicted of accepting bribes from oil companies and became the first Cabinet member to go to prison. At the time, the Teapot Dome scandal was seen as "greatest and most sensational scandal in the history of American politics".

1976 - When he was 63 years old, The United States celebrated the Bicentennial of the adoption of the Declaration of Independence. It was a year long celebration, with the biggest events taking place on July 4th.

1987 - By the time he was 74 years old, on October 19th, stock exchanges around the world crashed. Beginning in Hong Kong then spreading to Europe, the crash then hit the United States. It was called Black Monday. The Dow Jones fell 508 points to 1,738.74 (22.61%).

1991 - In the year of Raymond F Mcnaught's passing, on November 7th, legendary basketball player Magic Johnson announced that he had HIV. In 1991, the public was confused about the difference between HIV and AIDS (HIV is a virus that can lead to AIDS) and there was little treatment for either. Most thought that Johnson would die within a year or so. Also, the transmission of AIDS wasn't understood so he had to retire from basketball. Magic Johnson is still alive and well.

Raymond F Mcnaught Family Tree

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Obituary

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Raymond F Mcnaught died on September 19, 1991 at 78 years of age. No cause of death has been listed. He was born on July 27, 1913. There is no information about Raymond's family or relationships.

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