William Nail (1880 - 1966)

Refresh this page to see various historical events that occurred during William's lifetime.

In 1880, in the year that William Nail was born, on February 2nd the city of Wabash, Indiana became the third city in the world to be lit by electricity.

In 1908, when he was 28 years old, unemployment in the U.S. was at 8.0% and the cost of a first-class stamp was 2 cents while the population in the United States was 88,710,000. The world population was almost 4.4 billion.

In 1913, William was 33 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.

In 1930, William was 50 years old when on August 6th, N.Y. Supreme Court Judge Joseph Crater went through papers in his office, destroyed some of them, withdrew all his money from the bank - $5,150, sold his stock, met friends at a restaurant for dinner and disappeared after getting into a taxi (or walking down the street - his friends' testimony later changed). His disappearance was reported to the police on September 3rd - almost a month later. His wife didn't know what happened, his fellow Justices had no idea, and his mistresses (he had several) said that they didn't know. While his disappearance was front page news, his fate was never discovered and after 40 years the case was closed, still without knowing if Crater was dead or alive.

In 1966, in the year of William Nail's passing, on July 1st, Medicare became available after President Johnson signed into law the Medicare Act in 1965. President Truman had received the first Medicare card since he had been the first to propose national healthcare law. insurance.