Posted by wood profits success stories on May 29, 2025 at 10:35:58:
In Reply to: çàðàáîòîê t422r posted by richardGuarF on February 25, 2024 at 18:09:15:
The share of federal income generated by revenue taxes rose from 11 p.c in 1914 to sixty nine p.c in 1920.
The tax charges had been prolonged downward so
that greater than 30 p.c of the nation’s revenue recipients had been subject to revenue taxes by 1918.
However, by the purchase of tax exempt state and native securities and by way of steps taken by firms to keep
away from the money distribution of earnings, the number of high revenue taxpayers and their
share of complete taxes paid declined as Congress
stored rising the tax charges. Regardless of widespread condemnation by economists,
President Hoover signed the Smoot-Hawley Tariff in June 1930 and rates rose sharply.
President Harding’s new Secretary of the Treasury, Andrew Mellon, proposed chopping the tax rates, arguing that the rates in the upper brackets
had "passed the purpose of productivity" and charges in excess of 70 p.c simply couldn't be collected.
Republicans argued for sharper cuts that lowered the progressivity of the rates.