By the end of the war, FDR’s administration had placed taxable personal income as high as 94%(!). His Brain Trust were all big believers in Federal intervention into the economy – offering all sorts of price freezes and wage freezes in order to limit competition during the Great Depression (as if that was a good). As the war kicked into high gear, FDR installed a low ceiling upon all high-earners and capped their salaries at $25,000.00 per-year.
New Deal taxation during WW2New Deal concept of wartime taxationNew Deal war tax 1942ww2 taxation article 1942
![The Federal Ceiling on[br] Net Personal Income](https://oldmagazinearticles.com/pdf/FDR-Income-Ceiling_0001.jpg)
New Deal taxation during WW2New Deal concept of wartime taxationNew Deal war tax 1942ww2 taxation article 1942