FDR’s Proposal to Limit Personal Income
(PM Tabloid, 1942)
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-in to high gear, FDR installed a low ceiling upon all high-earners and capped their salaries at $25,000.00 per-year.
Click here to read about FDR’s airplane.