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)
“The important thing is that when you come to understand something you act on it, no matter how small that act is. Eventually it will take you where you need to go.”
—Helen Prejean (b. 1940)