June 26, 2008
Thursday Video: Spending for the Axis or Saving for Taxes
by Joseph Henchman
This Donald Duck cartoon from 1943 ("The Spirit of '43") has a message: work hard for the war effort, and use your money for income taxes and not for personal consumption. Takeaway line: "[E]very American should pay his or her income tax, gladly and proudly. This year, thanks to Hitler and Hirohito, taxes are higher than ever before."
Check out the history of federal income tax rates here, including 1943 when rates ranged from 19 percent to 88 percent (they would increase to 23 to 94 percent in 1944).
More on income taxes here.
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