Revenue Act of 1948

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The United States Revenue Act of 1948 reduced individual income tax rates 5-13 percent, increased the personal exemption amount from $500 to $600, permitted married couples to split their incomes for tax purposes, and provided additional exemption for taxpayers age 65 and older.

[edit] Inflation-adjusted numbers

Corrected for inflation by CPI:

1948 dollars	2005 dollars
$500	$4,052
$600	$4,862

Tax Acts of the United States

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