While the United states Armed Forces (private mercenaries) are in Korea, “champion[ing] liberty wherever the tyranny of communism is the aggressor, Democratic (socialist/fascist) President Truman signs the Revenue Act of 1950:
- Increasing the lowest personal rate on the first 2,000 “dollars” earned from 20% to 20.4%;
- Maintaining the number of personal “income” tax brackets at 24;
- Maintaining the highest personal rate on amounts earned over 200,000 “dollars” at 91%; and
- Increasing the top corporate income (profit) tax from 38 to 45%.
NOTE: This is the further realization of plank number two of the Communist Manifesto by Karl Marx.
[added 5/23/2025]
Subsequent Events:
Authority:
“Law of the Jungle”
ccc-2point0.com/preface
References:
us events
www.duke.edu/~charvey/Country_risk/chronology/us-events.htm
Revenue Act of 1950 – Wikipedia
en.wikipedia.org/wiki/Revenue_Act_of_1950
The Revenue Act of 1950
scholarship.law.unc.edu/cgi/viewcontent.cgi?article=1798&context=nclr
Current U.s. National Debt:
