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Excerpt from The Impact of Federal Income Taxes on Farm People
The unprecedented amount of Federal income taxes paid by farm residents in 19h8 resulted partly from the fact that in 19h7 taxable income reached an all - time peak. Likewise, tax rates, although they were reduced slightly from World War II levels by the Revenue Act of l9h6, applied at relatively high rates to l9h7 incomes.
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Paperback. Zustand: New. Print on Demand. This book examines federal income taxes levied against farmers from 1940 to 1955, a period marked by major changes in the nation's tax policies. Federal income tax reporting by farm residents became necessary in 1913, when the first federal income tax was enacted. The author of this book, an agricultural economist, illuminates how federal income tax policy and rates have shifted over the decades, especially during World War II and the Korean War. In 1940, less than one percent of the rural farm population paid federal income taxes. By 1955, however, over 50% of farm families filed and paid. This book details a range of considerations influencing how and why this came to be. Featuring a rich dataset and clear contextualization, this book provides a valuable, nuanced investigation of a key but often overlooked aspect of 20th-century American history. This book is a reproduction of an important historical work, digitally reconstructed using state-of-the-art technology to preserve the original format. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in the book. print-on-demand item. Bestandsnummer des Verkäufers 9780243886555_0
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