TIL that 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.

http://en.wikipedia.org/wiki/New_Deal#Tax_Policy



Submitted February 19, 2015 at 11:40PM by torbald2895 http://www.reddit.com/r/todayilearned/comments/2wgboc/til_that_in_the_new_deal_fdr_called_for_a_new_tax/