Defining Moment
1942-1943
1942-1943
Great Depression and World War II Era
Defining Moment
What Americans Were Trying To Do
Raise revenue for total war from a much broader tax base.
What Happened
The Revenue Act of 1942 broadened the income tax dramatically, and wartime withholding made tax collection regular and automatic for many workers.
How Public Finance Made It Possible
Withholding turned federal income taxation into a mass administrative system.
What This EnabledThe government gained reliable wartime cashtaxpayers adapted to pay-as-you-go collection
How Americans BenefitedThe government gained reliable wartime cashtaxpayers adapted to pay-as-you-go collection
Anchor Events
Top 100 Building Events
