2min chapter

History That Doesn't Suck cover image

133: Heading “Over There:” “Black Jack” Pershing & Creating WWI’s American Expeditionary Force

History That Doesn't Suck

CHAPTER

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

Get the Snipd
podcast app

Unlock the knowledge in podcasts with the podcast player of the future.
App store bannerPlay store banner

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode

Save any
moment

Hear something you like? Tap your headphones to save it with AI-generated key takeaways

Share
& Export

Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode