The Individual Income Tax Act of 1944 raised individual income tax rates in the United States and repealed the 3% Victory Tax.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.
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Famous quotes containing the words individual, income, tax and/or act:
“There is one mind common to all individual men. Every man is an inlet to the same and to all of the same.”
—Ralph Waldo Emerson (1803–1882)
“We commonly say that the rich man can speak the truth, can afford honesty, can afford independence of opinion and action;—and that is the theory of nobility. But it is the rich man in a true sense, that is to say, not the man of large income and large expenditure, but solely the man whose outlay is less than his income and is steadily kept so.”
—Ralph Waldo Emerson (1803–1882)
“In 1845 he built himself a small framed house on the shores of Walden Pond, and lived there two years alone, a life of labor and study. This action was quite native and fit for him. No one who knew him would tax him with affectation. He was more unlike his neighbors in his thought than in his action. As soon as he had exhausted himself that advantages of his solitude, he abandoned it.”
—Ralph Waldo Emerson (1803–1882)
“You are as still as a yardstick. You have a doll’s kiss.
The brain whirls in a fit. The brain is not evident.
I have gone to that same place without a germ or a stroke.
A little solo act that lady with the brain that broke.”
—Anne Sexton (1928–1974)