The United States Second Revenue Act of 1940 created a corporate excess profits tax (top rate 50%) and increased corporate tax rates (top rate from 33% to 35%).
Famous quotes containing the words revenue and/or act:
“If you tax too high, the revenue will yield nothing.”
—Ralph Waldo Emerson (1803–1882)
“Every act of the man inscribes itself in the memories of his fellows, and in his own manners and face. The air is full of sounds; the sky, of tokens; the ground is all memoranda and signatures; and every object covered over with hints, which speak to the intelligent.”
—Ralph Waldo Emerson (1803–1882)