The Revenue Act of 1942 . . . permanently revolutionized the American tax system. . . . Despite the alleged fiscal promiscuity of the New Deal, to all but a plutocratic few Americans the prewar federal tax system was an utter irrelevancy, or at most a decidedly minor nuisance. All that now changed, forever. By lowering the personal exemption to $624, the 1942 law immediately brought thirteen million new taxpayers into the system.David M. Kennedy, Freedom from Fear: The American People in Depression and War, 1929-1945 (New York: Oxford Univ. Press, 1999), ch. 18
commonplace book. n. Formerly Book of common places (see commonplace n. 3). orig. A book in which ‘commonplaces’ or passages important for reference were collected, usually under general heads; hence, a book in which one records passages or matters to be especially remembered or referred to, with or without arrangement.
OED Online. Oxford University Press, March 2015. Web. 5 April 2015.
commonplace blog. n A commonplace book in a blog.
Saturday, September 12, 2015
WWII and taxes
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