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View Diary: Robert Reich: Mitt Romney IS the Economic Crisis (84 comments)

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  •  GOP President Hoover raised taxes on wealthy (3+ / 0-)
    Recommended by:
    wasatch, elwior, berko

    The Revenue Act of 1932 (June 6, 1932, ch. 209, 47 Stat. 169) raised United States tax rates across the board, with the rate on top incomes rising from 25 percent to 63 percent. The estate tax was doubled and corporate taxes were raised by almost 15 percent.

    The provisions of the act applied to the taxable year of 1932 and all subsequent taxable years.

    It was signed into law by President Herbert Hoover.

    We just do not remember our history or perhaps we aren't taught the facts.

    It's difficult to be happy knowing so many suffer. We must unite.

    by War on Error on Wed Jul 04, 2012 at 07:52:29 PM PDT

    [ Parent ]

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