The Individual Income Tax Act of 1944 raised individual income tax rates in the United States and repealed the 3% Victory Tax.
It standardized the value of personal exemptions at $500 per person.
|
Famous quotes containing the words individual, income, tax and/or act:
“The secret of biography resides in finding the link between talent and achievement. A biography seems irrelevant if it doesn’t discover the overlap between what the individual did and the life that made this possible. Without discovering that, you have shapeless happenings and gossip.”
—Leon Edel (b. 1907)
“The question for the country now is how to secure a more equal distribution of property among the people. There can be no republican institutions with vast masses of property permanently in a few hands, and large masses of voters without property.... Let no man get by inheritance, or by will, more than will produce at four per cent interest an income ... of fifteen thousand dollars] per year, or an estate of five hundred thousand dollars.”
—Rutherford Birchard Hayes (1822–1893)
“I come into the peace of wild things
who do not tax their lives with forethought
of grief.”
—Wendell Berry (b. 1934)
“The soul, which is the first principle of life, is not a body, but the act of a body; just as heat, which is the principle of calefaction, is not a body, but an act of a body.”
—Thomas Aquinas (c. 1225–1274)