The Republican (fascist/socialist) 17th counterfeit CONgress (elected in accordance with the fraudulent 17th amendment)–over the veto of Democratic (socialist/fascist) President Truman–passes the Revenue Act of 1948:
- Increasing the number of personal “income” tax brackets from 23 to 24;
- Increasing the highest personal rate on amounts earned over 200,000 “dollars” from 86.45%% to 91%;
- Reducing the unlawful, individual, Federal income tax rates 5 to 13 percent;
- Increasing the personal exemption amount from 500 to 600 “dollars”;
- Permitting married couples to split their incomes for tax purposes;
- Maintaining the lowest personal rate on the first 2,000 “dollars” earned at 20%; and
- Reducing the highest corporate rate from 40% to 38%.
NOTE: This is the further realization of plank number two of the Communist Manifesto by Karl Marx.
[updated 5/17/2025]
Subsequent Events:
Authority:
“Law of the Jungle”
ccc-2point0.com/preface
References:
Calvin D. Linton, ed., The Bicentennial Almanac: 200 Years of America, 1776-1976, (Nashville, Tennessee: Thomas Nelson, 1975), 368.
Revenue Act of 1948 – Wikipedia
en.wikipedia.org/wiki/Revenue_Act_of_1948
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:
