Tag Archives: disaster

The Ironies of April 15th

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A promotional poster for Bruce Caplan's appearance in San Diego

A promotional poster for Bruce Caplan’s appearance in San Diego

The Ironies of the Titanic
Bruce M.  Caplan

 There’s an old saying that  there’s two things you can’t escape and that’s “death and taxes.”  On the terribly cold night of April  14th 1912, the Titanic newly crowned Empress of the Seas, met her  Waterloo.  At 11:40 in the evening the giant  vessel slammed into an iceberg and less than three hours later on the morning of  April 15th, she was at the bottom of the  sea.

 Prior to the collision the  mood of most on board was idyllic.   However, the many millionaires were probably cursing the fact that our  government was attempting to levy an annual income tax.  Word was that the tax would only apply  to the rich and regardless it would never be more than 2% of anyone’s annual  income.

 Less than a year after the  vanishing of the Titanic in February of 1913, the 16th Amendment to  the US Constitution was ratified and Federal Income Tax became  legal.

 Originally the annual date  to file was not in April, but eventually it became April 15—-the same date on  the calendar that the great ship sank. Isn’t it ironic that our government  picked the same date on the calendar that the Titanic sank, to make so many of  our wallets sink?

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