Executive Order 9250

Ever heard of FDR’s Executive Order 9250 which established a tax rate of 100% at $25,000. Yes, it really happened?
Here’s a sample:

7. In order to correct gross inequities and to provide for greater equality in contributing to the war effort, the Director is authorized to take the necessary action, and to issue the appropriate regulations, so that, insofar as practicable no salary shall be authorized under Title III, Section 4, to the extent that it exceeds $25,000 after the payment of taxes allocable to the sum in excess of $25,000. Provided, however, that such regulations shall make due allowance for the payment of life insurance premiums on policies heretofore issued, and required payments on fixed obligations heretofore incurred, and shall make provision to prevent undue hardship.

Posted by on August 12th, 2010 at 1:48 pm


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