The presidency of Abraham Lincoln began on March 4, 1861, when he was inaugurated as the 16th President of the United States, and ended upon his assassination and death on April 15, 1865, 42 days into his second term. Lincoln was the first member of the recently-established Republican Party elected to the presidency. A former Whig, Lincoln ran on a political platform opposed to the expansion of slavery in the territories. His election served as the immediate impetus for the outbreak of the American Civil War. After being sworn in as president, Lincoln refused to accept any resolution that would result in Southern secession from the Union. The act created a flat tax of three percent on incomes above $800 ($22,800 in current dollar terms). This taxation of income reflected the increasing amount of wealth held in stocks and bonds rather than property, which the federal government had taxed in the past. As the average urban worker made approximately $600 per year, the income tax burden fell primarily on the rich.
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