FDR’s Tax Increase Scared Him Off Hiring 87,000 IRS Agents
1 of the tasty problems in Thomas Piketty’s Cash in the 21st Century is this assertion: “Roosevelt came to electricity in 1933 [and] instantly determined on a sharp boost in the major profits tax amount, which had reduced to 25 p.c….The major fee rose to 63 p.c in 1933.” FDR was clever enough not to…