The Federal Revenue Act of 19421

Roy G. Blakey and Gladys C. Blakey

American Political Science Review, 1942, vol. 36, issue 6, 1069-1082

Abstract: The Revenue Act of 1942 marks a new high in American finance; in fact, it reaches a new high for any country. According to official estimates, which vary somewhat, in a full year of operation the new law will increase federal tax revenues by 7 or 8 billion dollars to 24 or 26 billion dollars. This is about 50 per cent more than would have been received if the existing law had not been changed, and four times as much as the greatest tax measure of World War I. Eightelevenths of the estimated increase is to come from income taxes on individuals; two-elevenths from taxes on incomes of corporations; and nearly one-eleventh from excises on liquor, tobacco, freight charges, etc. (See Table 4).

Date: 1942
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.cambridge.org/core/product/identifier/ ... type/journal_article link to article abstract page (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:cup:apsrev:v:36:y:1942:i:06:p:1069-1082_04

Access Statistics for this article

More articles in American Political Science Review from Cambridge University Press Cambridge University Press, UPH, Shaftesbury Road, Cambridge CB2 8BS UK.
Bibliographic data for series maintained by Kirk Stebbing ().