The USA established marginal income tax rates of 77% in 1916 to fund the war effort in World War I. What were they reduced to by 1929, shortly before the Wall Street crash?
The ans is - 24%
In 1963, US President Johnson imposed a 25 % tax (almost 10 times the average) on potato starch, dextrin, brandy, and light trucks, resulting in VW vans and pickups disappearing from the U.S. market. Why?
