
133: Heading “Over There:” “Black Jack” Pershing & Creating WWI’s American Expeditionary Force
History That Doesn't Suck
The Importance of Liberty in the Great War
The War Revenue Act of 1917 increases corporate taxes to 6%. For personal income taxes, it lowers exemptions and raises the highest tax bracket on multi-million dollar earners from 13% to 67%. 15% of American families are paying income tax now, and the top 1% is furnishing 80% of the revenue. That will only cover about one-third of the war's cost, so Treasury Secretary William McAdoo turns to war bonds.
00:00
Transcript
Play full episode
Remember Everything You Learn from Podcasts
Save insights instantly, chat with episodes, and build lasting knowledge - all powered by AI.