on this day: august 5th

164 years ago - 1861, United States imposed its first income tax

There's nothing certain in life besides death and taxes. Well before the 1861, there were no systems of income tax. The first tax was 3% on people making over $800 dollars (or $21000 in 2014).

151 years ago - 1874, Japan opens its Postal Savings System

If you're a foreigner in Japan, you've probably used those little green Postal Savings ATM's to get yourself some cash. The Japanese modeled their Postal Savings system after the British in 1874, which allowed for rural and poor citizens to create savings accounts. Feel like putting away that chunk of cash you have under your mattress?