Democratic (socialist/fascist) de facto President Franklin Roosevelt, Esq.—without a constitutional amendment—signs the Internal Revenue Act of 1934:
- Decreasing the number of personal “income” tax brackets from 54 to 30;
- Maintaining the lowest personal rate on the first 4,000 “dollars” at 4%;
- Maintaining the highest personal rate on amounts earned over 1,000,000 “dollars” at 63%;
- Maintaining the corporate rate on income (profits) at 13.75%;
- But raising the surtax (progressive rates) on incomes of 4,000 from one to five percent and 55% to 59% on incomes over 1,000,000 “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 4/19/2025] 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.
Revenue Act of 1934 – Wikipedia, the free encyclopedia
en.wikipedia.org/wiki/Revenue_Act_of_1934
Revenue Act of 1932 – Wikipedia, the free encyclopedia
en.wikipedia.org/wiki/Revenue_Act_of_1932
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:
