Asked by Melissa Marie on Jul 10, 2024
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Why did the Wilson administration impose a graduated income tax in 1913?
A) Correctly predicting the coming of World War I, Wilson hoped to bolster the federal budget for defense.
B) Having imposed a ban on liquor sales, Wilson had to find a way to compensate for the lost excise tax.
C) Wilson was trying to fulfill his campaign promise of "soaking the rich."
D) Wilson had promised Republicans a graduated income tax, but only if in return they supported his declaration of war.
E) The substantial reduction of duties on imports required Wilson to make up for lost revenue.
Graduated Income Tax
A tax system where the tax rate increases as the taxable income amount increases, imposing a higher tax rate on higher income earners.
Wilson Administration
The period during which Woodrow Wilson served as President of the United States, notable for its focus on progressive reforms and involvement in World War I.
Excise Tax
A type of tax charged on specific goods, services, and activities, often included in the price of products like alcohol, tobacco, and gasoline.
- Apprehend the link between the advancements in Progressive reforms and the inception of policies geared towards economic and social development.
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Learning Objectives
- Apprehend the link between the advancements in Progressive reforms and the inception of policies geared towards economic and social development.
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