Republican (fascist/socialist) President Hoover signs the Revenue Act of 1932:
- Increasing the number of personal “income” tax brackets from 23 to 54;
- Increasing the lowest personal rate on the first 4,000 Dollars earned from 1.5% to 4%;
- Increasing the highest personal rate on amounts earned over 100,000 Dollars from 25% to 63% on amounts earned over 1,000,000 Dollars;
- Increasing the price of a first class postage stamp from one Cent to two Cents; and
- Increasing the tax on corporate profits from 12% to 13.75%.
NOTE: This is the further realization of plank number two of the Communist Manifesto by Karl Marx.
[restored 4/19/2025]
Subsequent Events:
Authority:
“Law of the Jungle”
ccc-2point0.com/preface
References:
Revenue Act of 1932 – Wikipedia
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:
