President Wilson offset the lost revenues resulting from his cut to the tariff by relying on
A) monies brought in by direct taxation on the states
B) private donations from the wealthy
C) a large tax on the wealthiest companies
D) revenue created by the first federal income tax

Question

Quizplus · Accepted Answer

President Wilson compensated for the decrease in revenue caused by his reduction of tariffs by implementing the first federal income tax, which directly taxed individuals' incomes, thereby creating a new source of government revenue.

President Wilson Offset the Lost Revenues Resulting from His Cut