What 1935 act raised taxes on wealthy people and corporations? a. Revenue Act c. Income Tax Act b. Second New Deal d. Social Sec

Question

kolbaska11 [484]

3 years ago

5

What 1935 act raised taxes on wealthy people and corporations? a. Revenue Act c. Income Tax Act b. Second New Deal d. Social Sec

urity Act

History

1 answer:

schepotkina [342] · Answer 1 · 2022-05-18T08:21:59+03:00

The Revenue Act of 1935 raised taxes on wealthy people and corporations. Roosevelt signed this act in order to help the dwindling economy during the Great Depression. It was part of Roosevelt's New Deal. It didn't have a huge impact as Rockefeller, Mellon, and Ford were the only ones who fell in this bracket.