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Victory Tax

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The Victory Tax was a 5% income tax established in the United States by the Revenue Act of 1942.[1] Congress attempted to reduce the tax to 3% in the Revenue Act of 1943; that bill was vetoed by President Roosevelt, but his veto was overridden. The tax was eliminated in the Individual Income Tax Act of 1944.

References

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  1. ^ "The Wealth Tax of 1935 and the Victory Tax of 1942".


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