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The Revenue Act of 1935 (Sometimes Called the Wealth-Tax Act)

Question 43

Multiple Choice

The Revenue Act of 1935 (sometimes called the Wealth-Tax Act) :


A) provided for a regressive tax
B) increased federal revenue significantly and thus helped finance the New Deal
C) raised taxes on incomes above $50,000
D) created a more equal distribution of wealth in America
E) was an FDR response to Long's "soak-the-rich tax"

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