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Clarence Fashbaugh 1885 - 1974

Clarence Fashbaugh of Covina, Los Angeles County, California was born on November 27, 1885, and died at age 88 years old in April 1974.

Clarence Fashbaugh

Covina, Los Angeles County, California 91722

November 27, 1885

April 1974

Male

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Clarence Fashbaugh Clarence Fashbaugh (1885 - 1974)

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Clarence Fashbaugh's History: 1885 - 1974

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11/27

1885

Birthday

November 27, 1885

Birthdate

Unknown

Birthplace

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04/dd

1974

Death

April 1974

Death date

Unknown
Cause of death

Unknown
Death location

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Clarence Fashbaugh lived 11 years longer than the average family member when died at the age of 88.

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Clarence Fashbaugh lived 11 years longer than the average family member when died at the age of 88.

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In 1885, in the year that Clarence Fashbaugh was born, on February 16th, the first Dow Jones Industrial Average was published by Charles Dow, who also founded the Wall Street Journal. The index was 62.76. It represented 12 stocks - American Cotton Oil, American Sugar, American Tobacco, Chicago Gas, Distilling & Cattle Feeding, General Electric, Laclede Gas, National Lead, North American, Tennessee Coal and Iron, U.S. Leather pfd. and U.S. Rubber.

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In 1913, he was 28 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.

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