In the New Deal, FDR called for a new tax program called the Revenue Act of 1935, which imposed an income tax of 79% on incomes over $5 million. This tax rate affected literally one person: John D. Rockefeller.
fact
In the New Deal, FDR called for a new tax program called the Revenue Act of 1935, which imposed an income tax of 79% on incomes over $5 million. This tax rate affected literally one person: John D. Rockefeller.