The Individual Income Tax Act of 1944 raised individual income tax rates in the United States and repealed the 3% Victory Tax.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 extrovert and introvert, the realist and idealist, the scientist and philosopher, the man who found himself by refinding his life history and the individual who discovered his being in fantasy, these are the differences between Freud and Jung.”
—Robert S. Steele. Freud and Jung: Conflicts of Interpretation, ch. 10, Routledge & Kegan Paul (1982)
“The bread-winner must toil as in the fruitless effort of a troubled dream while the expenditure of an uneducated wife discounts the income in the lack of understanding to discern the broad possibilities of an intelligent economy.”
—Anna Eugenia Morgan (1845–1909)
“I have no doubt that it was a principle they fought for, as much as our ancestors, and not to avoid a three-penny tax on their tea; and the results of this battle will be as important and memorable to those whom it concerns as those of the battle of Bunker Hill, at least.”
—Henry David Thoreau (1817–1862)
“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)