Democratic (socialist/fascist) de facto President Franklin Roosevelt, Esq., signs the Internal Revenue Act of 1941:
- Increasing the lowest corporate rate from 22.1% to 30% on amounts under 25,000 “dollars”;
- Increasing the highest corporate rate on amounts earned over 25,000 “dollars” from 35% to 44%;
- Increasing the tax on “excess” corporate profits from 25% to 35% on amounts under 25,000 “dollars” to 60% on amounts over 500,000 “dollars”;
- Making permanent the temporary individual, corporate, and excise tax increases of the IRA of 1940;
- Temporarily raising the Federal corporate income tax rate another six to seven percent, and the individual income tax rate four percent;
- Increasing the number of personal “income” tax brackets from 31 to 32;Increasing the lowest personal rate on the first 4,000 “dollars” earned from 4% to 10% on the first 2,000 “dollars” earned;
- Increasing the highest personal rate on amounts earned over 5,000,000 “dollars” from 79% to 88%; and
- Decreasing the personal exemption for married couples from 2,000 to 1,500 “dollars.”
NOTES:
- As an attorney (Officer of the Court) Roosevelt was ineligible to serve in two branches of government at the same time, according to Article I, Section 6 [Clause 2].
- This is the further realization of plank number two of the Communist Manifesto by Karl Marx.
[updated 5/3/2025] Thanks to Bill Holmes for this entry
Subsequent Events:
Authority:
“Law of the Jungle”
ccc-2point0.com/preface
References:
Encyclopedia of Banking and Finance, s.V. “New Deal,” 753.
us events
www.duke.edu/~charvey/Country_risk/chronology/us-events.htm
Revenue Act of 1941 – Wikipedia, the free encyclopedia
en.wikipedia.org/wiki/Revenue_Act_of_1941
The New Deal
www.uri.edu/artsci/newecn/Classes/Art/INT1/Mac/1930s/new_deal.htm
Corporate Income Tax: Definition, History, Rate
www.thebalance.com/corporate-income-tax-definition-history-effective-rate-3306024
Communist Manifesto 10 Planks
www.libertyzone.com/Communist-Manifesto-Planks.html
Current U.s. National Debt:
