The Special Preparedness Fund Act of 1917 provided a “special preparedness fund for army, navy, and fortification purposes” through an excess profits tax on corporations and partnerships equal to 8% of the amount by which their net income exceeded $5,000 plus 8% of the “actual capital invested.”
Famous quotes containing the words special, fund and/or act:
“History repeats itself, but the special call of an art which has passed away is never reproduced. It is as utterly gone out of the world as the song of a destroyed wild bird.”
—Joseph Conrad (1857–1924)
“School success is not predicted by a child’s fund of facts or a precocious ability to read as much as by emotional and social measures; being self-assured and interested: knowing what kind of behavior is expected and how to rein in the impulse to misbehave; being able to wait, to follow directions, and to turn to teachers for help; and expressing needs while getting along with other children.”
—Daniel Goleman (20th century)
“Wonderful “Force of Public Opinion!” We must act and walk in all points as it prescribes; follow the traffic it bids us, realise the sum of money, the degree of “influence” it expects of us, or we shall be lightly esteemed; certain mouthfuls of articulate wind will be blown at us, and this what mortal courage can front?”
—Thomas Carlyle (1795–1881)