Individual Income Tax Act of 1944

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The Individual Income Tax Act of 1944 raised individual income tax rates in the United States and repealed the 3 % Victory Tax.

It standardized the value of personal exemptions at $500 per person.

[edit] Inflation-adjusted numbers

Corrected for inflation by CPI:

1944 dollars	2005 dollars
$500	$5,548

Tax Acts of the United States

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