In the United States, an excess profits tax is a tax, some say excise tax, on any profit above a certain amount. A predominantly wartime fiscal instrument, the tax was designed primarily to capture wartime profits that exceeded normal peacetime profits.
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Famous quotes containing the words excess, profits and/or tax:
“There is an excess both in happiness and misery above our power of sensation.”
—François, Duc De La Rochefoucauld (1613–1680)
“Whoever is content with the world, and who profits from its lack of justice, does not want to change it.”
—Friedrich Dürrenmatt (1921–1990)
“In other words, a democratic government is the only one in which those who vote for a tax can escape the obligation to pay it.”
—Alexis de Tocqueville (1805–1859)