war-tax

Examples of war-tax in the following topics:

• Union Finances

  • The Union emerged from the Civil War with a healthy economy by funding the war with new taxes, printing money, and issuing government bonds.
  • Several new taxes imposed during the war relied on wartime patriotism to bolster public approval.
  • The largest tax sum by far came from taxes imposed on manufactured goods.
  • Annual income of U.S. residents was taxed at a 3 percent rate, while those earning more than $10,000 per year were taxed at a 5 percent rate.
  • Describe how the Union financed the war through taxes, printing money, the sale of government bonds, and the creation of a national banking system

• British Taxes and Colonial Grievances

  • The expenses from the French and Indian War caused the British to impose taxes on the American colonies.
  • After the French and Indian War, the British needed to find a way to repay war debt.
  • They imposed new taxes and penalties to increase revenue for the kingdom.
  • The Sugar Act of 1764 reduced the taxes imposed by the Molasses Act, but at the same time strengthened the collection of the tax.
  • Again, colonial merchants threatened to boycott taxed products.

• Fiscal Policy -- Budget and Taxes

  • That figure rose to almost 44 percent of GDP in 1944, at the height of World War II, before falling back to 11.6 percent in 1948.
  • State governments traditionally have depended on sales and excise taxes, but state income taxes have grown more important since World War II. )
  • The first U.S. income tax law was enacted in 1862 to support the Civil War.
  • Still, except during World War I, the income tax system remained a relatively minor source of federal revenue until the 1930s.
  • During World War II, the modern system for managing federal income taxes was introduced, income tax rates were raised to very high levels, and the levy became the principal sources of federal revenue.

• Federal Income Tax Rates

  • When the tax is levied on the income of companies, it is often called a corporate tax, corporate income tax or profit tax.
  • Individual income taxes often tax the total income of the individual, while corporate income taxes often tax net income.
  • In order to help pay for the American Civil War, the federal government imposed its first personal income tax on August 5, 1861 as part of the Revenue Act of 1861.
  • With the advent of World War II, employment increased, as did tax collections—to 7.3 billion.
  • Advance payments of tax are required in the form of withholding tax or estimated tax payments.

• Taxes and the Three Estates

  • The later wars of Louis XIV, although successful politically and militarily, exhausted the state's budget, which eventually led the King to accepting reform proposals.
  • Louis was willing to tax the nobles but unwilling to fall under their control and only under extreme stress of war was he able, for the first time in French history, to impose direct taxes on the aristocracy.  
  • This tax continued throughout the Ancien Régime.
  • The financial needs of the Seven Years' War led to a second (1756–1780) and then a third (1760–1763) "vingtième" being created.
  • The tax system in pre-revolutionary France largely exempted the nobles and the clergy from taxes.

• Tax Protests

  • A series of taxing legislation during the colonial era set off a series of actions between colonists and Great Britain.
  • Tax loads in practice were very light, and far lower than in England.
  • This also began the rise of the Sons and Daughters of Liberty, who staged public protests over the taxes.
  • By this point, the 13 colonies had organized themselves into the Continental Congress and began setting up shadow governments and drilling their militia in preparation for war.
  • Describe the contribution that British tax policy made to the colonists' grievances against the mother country

• Taxation Without Representation

  • "No Taxation without Representation" was the rallying cry of the colonists who were forced to pay the stamp, sugar, and tea taxes.
  • The phrase captures a sentiment central to the cause of the English Civil War, as articulated by John Hampden who said, "what an English King has no right to demand, an English subject has a right to refuse."
  • This tax, which was only applied to coastal towns during a time of war, was intended to offset the cost of defending that part of the coast and could be paid in actual ships or the equivalent value.
  • It was a cause of the English Civil War, and many British colonists in the 1750s, 1760s, and 1770s felt that it was related to their current situation.
  • Here, Sons of Liberty are tarring and feathering a tax collector.

• Social Security and Tax Reform

  • Roosevelt pushed for a number of tax programs that would impose high income taxes on the wealthiest Americans.
  • In 1935, Roosevelt called for a tax program called the Wealth Tax Act (Revenue Act of 1935) to redistribute wealth.
  • The Undistributed Profits tax was enacted in 1936.
  • This time the primary purpose was revenue, since Congress had enacted the Adjusted Compensation Payment Act, calling for payments to World War I veterans of $ 2 billion.
  • Paid dividends were tax deductible by corporations.

• The Stamp Act

  • The purpose of the tax was to help pay for troops stationed in North America after the British victory in the Seven Years' War.
  • The British victory in the Seven Years' War (1756–1763), known in British America as the French and Indian War, had been won only at a great financial cost.
  • During the war, the British national debt nearly doubled.
  • Post-war expenses were expected to remain high because the Bute ministry decided in early 1763 to keep ten thousand British regular soldiers in the American colonies.
  • Raising taxes in Britain was out of the question, since there had been virulent protests in England against the Bute ministry's 1763 cider tax, with Bute being hanged in effigy.

• The War and Its Consequences

  • Most of the North American fighting of the French and Indian War (the North American theatre of the Seven Years' War) ended on September 8, 1760, when the Marquis de Vaudreuil surrendered Montreal—and effectively all of Canada—to the British.
  • The European theatre of the war was settled by the Treaty of Hubertusburg on February 15, 1763.
  • The Crown, seeking sources of revenue to pay off the debt, chose to impose new taxes on its colonies.
  • These taxes were met with increasingly stiff resistance, until troops were called in to ensure that representatives of the Crown could safely perform their duties of collecting taxes.
  • Over the years, dissatisfaction over the high taxes would steadily rise among the colonists until eventually culminating in the American Revolutionary War.