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Politics : American Presidential Politics and foreign affairs -- Ignore unavailable to you. Want to Upgrade?

To: DuckTapeSunroof who wrote (44409)	7/28/2010 5:13:42 PM
From: TimF	Read Replies (1) \| Respond to of 71588

Tax incidence is complicated but typically Americans do pay more for items with tariffs imposed on them than they otherwise would. Its possible that the market conditions could be such that the producer would have all of the burden, but its unlikely. Also true... but their use of the phrase "1929 - 1932" would seem to indicate that THAT was the period they were discussing... Revenue Act of 1932 From Wikipedia, the free encyclopedia Jump to: navigation, search The Revenue Act of 1932 (June 6, 1932, ch. 209, 47 Stat. 169) raised United States tax rates across the board, with the rate on top incomes rising from 25 percent to 63 percent. The estate tax was doubled and corporate taxes were raised by almost 15 percent. The provisions of the act applied to the taxable year of 1932 and all subsequent taxable years. It was signed into law by President Herbert Hoover. en.wikipedia.org