The political compromise reached on taxation in the first half of the twentieth century included

Question

Quizplus · Accepted Answer

The political compromise on taxation during the first half of the twentieth century indeed involved high marginal tax rates alongside numerous loopholes. This allowed for high nominal rates on the wealthy, while simultaneously providing them with various ways to reduce their effective tax burden through deductions, exemptions, and other tax preferences.

The Political Compromise Reached on Taxation in the First Half