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Jennings B. Burson 1907 - 2008

Jennings Bryan Burson of Texas was born on January 18, 1907, and died at age 101 years old on July 22, 2008.

Jennings Bryan Burson

Texas

January 18, 1907

July 22, 2008

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Jennings B. Burson Jennings Burson (1907 - 2008)

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Jennings Bryan Burson's History: 1907 - 2008

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01/18

1907

Birthday

January 18, 1907

Birthdate

Unknown

Birthplace

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Nationality & Locations

Texas Comal County, Texas
07/22

2008

Death

July 22, 2008

Death date

Unknown
Cause of death

Unknown
Death location

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Jennings B. Burson lived 28 years longer than the average family member when died at the age of 101.

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Jennings B. Burson lived 28 years longer than the average family member when died at the age of 101.

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In 1907, in the year that Jennings B. Burson was born, in October, over a 3 week period, the New York stock exchange fell almost 50% from the previous year's high mark. Public panic ensued and there were runs on banks since the U.S. was in the middle of a recession. J.P. Morgan offered his own fortune to back the banks and he was followed by other financiers. This temporarily shored up the banking system, stopping the immediate panic. All of this led to the creation of the Federal Reserve.

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In 1913, by the time this person was just 6 years old, 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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Jennings Burson's Family Tree & Friends

Jennings Burson's Family Tree

Parent

Jennings B. Burson Jan 18, 1907 - Jul 22, 2008

Partner

Child

Sibling

Marriage

Unnamed Partner