The New Deal II (1935 – 1939) continues: Democratic (socialist/fascist) de facto President Franklin Roosevelt, Esq.—without a constitutional amendment—signs the Revenue (Soak the Rich) Act of 1935, raising Inheritance and gift taxes; raising the marginal income tax rate on incomes of over 1,000,000 “dollars” per year, from 63%, to 75% on incomes of over 5,000,000 “dollars” per year.
NOTE: 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].
[added 7/15/2022] Thanks to Jim Lorenz for this entry.
Woe unto them that call evil good, and good evil; that put darkness for light, and light for darkness; that put bitter for sweet, and sweet for bitter!
—- Isaiah 5:20
When you see that in order to produce, you need to obtain permission from men who produce nothing; when you see that money is flowing to those who deal not in goods, but in favors; when you see that men get rich more easily by graft than by work, and your laws no longer protect you against them, but protect them against you. … you may know that your society is doomed.
—- Francisco d’Anconia, Atlas Shrugged
The New Deal II (1935 – 1939) continues: Democratic (socialist/fascist) de facto President Franklin Roosevelt, Esq.—without a constitutional amendment—signs the Guffey-Snyder National Bituminous Coal Conservation Act, establishing price supports for coal resulting in higher than market values and a nation-wide surplus.
Postscript: As a result of this economic distortion alternatives to coal such as petroleum, natural gas and hydroelectric power were adopted.
[restored 7/15/2022]
Subsequent Events:
Authority:
“Law of the Jungle”
ccc-2point0.com/preface
References:
Henry Hazlitt, Economics in One Lesson, (1946; Auburn, Alabama: Mises Institute, 2015), 84.
Alfred H. Kelly and Winfred A. Harbison, The American Constitution: Its Origin and Development, revised version, (1948; New York: W.W. Norton, 1955), 737.
August
newdeal.feri.org/days/08.htm
us events
www.duke.edu/~charvey/Country_risk/chronology/us-events.htm
Revenue Act of 1935 – Wikipedia, the free encyclopedia
en.wikipedia.org/wiki/Revenue_Act_of_1935