… [T]o call me one [an Englishman] without those rights is like calling an ox a bull.  He’s thankful for the honor, but he’d much rather have restored what’s rightfully his.

—- Benjamin Franklin, “1776”

       Democratic (socialist/fascist) President Truman signs the Revenue Act of 1945, repealing the excess profits tax, reducing the top individual rate from 94 to 86.45%, and reducing the top corporate rate from 40 to 38%, repealing the excess profits tax, reducing the top individual tax rate on incomes over 200,000 “dollars” from 94% to 86.45%, and reducing the top corporate tax rate on incomes over 50,000 “dollars” from 40% to 38%.

       Question: How does one define what an “excess profit” is?

       [added 8/11/2022] Thanks to Bill Holmes for this entry.