Asked by Sarah-Anne Clark on May 01, 2024
Verified
As a result of wartime revenue acts, ____________________.
A) the government was able to fund the war fully through increased taxes
B) corporations paid more in taxes than did individual workers
C) rises in the real income of Americans declined due to tax increases
D) the number of Americans paying income tax increased significantly
Wartime Revenue Acts
A series of laws enacted to increase federal revenue to fund military operations during times of war, often involving taxes on income, profits, or goods.
Income Tax
A tax levied by the government directly on individuals' or entities' income.
- Gain insight into the international economic effects of World War II, covering alterations in workforce dynamics, taxation policies, and the post-conflict economic landscape.
Verified Answer
FB
Francy BlancMay 01, 2024
Final Answer :
D
Explanation :
The wartime revenue acts led to a significant increase in the number of Americans who were required to pay income tax. Prior to the acts, only a small percentage of Americans were subject to income tax. However, the acts expanded the tax base to include more individuals and increased tax rates for those already paying. This allowed the government to raise significant revenue to fund the war effort.
Learning Objectives
- Gain insight into the international economic effects of World War II, covering alterations in workforce dynamics, taxation policies, and the post-conflict economic landscape.
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