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)
“Holly: Oh, Brad, I’d do my act in clown alley or the horse stop for you. I’d do anything if it was just for you.
Brad: Pigeon, look. Out under the sky you know how I feel about you. But under the Big Top one performer’s just like another to me.”
—Fredric M. Frank (1911–1977)