Tax On Individuals
A Normal Tax and a Surtax were levied against the net income of individuals as shown in the following table.
| Revenue Act of 1934 Normal Tax and Surtax on Individuals 48 Stat. 684 |
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| Net Income (dollars) |
Normal Rate (percent) |
Surtax Rate (percent) |
Combined Rate (percent) |
| 0 | 4 | 0 | 4 |
| 4,000 | 4 | 4 | 8 |
| 6,000 | 4 | 5 | 9 |
| 8,000 | 4 | 6 | 10 |
| 10,000 | 4 | 7 | 11 |
| 12,000 | 4 | 8 | 12 |
| 14,000 | 4 | 9 | 13 |
| 16,000 | 4 | 11 | 15 |
| 18,000 | 4 | 13 | 17 |
| 20,000 | 4 | 15 | 19 |
| 22,000 | 4 | 17 | 21 |
| 26,000 | 4 | 19 | 23 |
| 32,000 | 4 | 21 | 25 |
| 38,000 | 4 | 24 | 28 |
| 44,000 | 4 | 27 | 31 |
| 50,000 | 4 | 30 | 34 |
| 56,000 | 4 | 33 | 37 |
| 62,000 | 4 | 36 | 40 |
| 68,000 | 4 | 39 | 43 |
| 74,000 | 4 | 42 | 46 |
| 80,000 | 4 | 45 | 49 |
| 90,000 | 4 | 50 | 54 |
| 100,000 | 4 | 52 | 56 |
| 150,000 | 4 | 53 | 57 |
| 200,000 | 4 | 54 | 58 |
| 300,000 | 4 | 55 | 59 |
| 400,000 | 4 | 56 | 60 |
| 500,000 | 4 | 57 | 61 |
| 750,000 | 4 | 58 | 62 |
| 1,000,000 | 4 | 59 | 63 |
- Exemption of $1,000 for single filers and $2,500 for married couples and heads of family. A $400 exemption for each dependent under 18.
Read more about this topic: Revenue Act Of 1934
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—Friedrich Nietzsche (1844–1900)
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—Plato (427–347 B.C.)