War Revenue Act of 1917

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The United States War Revenue Act of 1917 greatly increased federal income tax rates while simultaneously lowering exemptions.

The 2 % bracket had previously applied to income below $20,000. That amount was lowered to $2,000. The top bracket (on income above $2 million) was raised from 15 % to 67 %.

[edit] Inflation-adjusted numbers

Corrected for inflation by CPI:

1917 dollars	2005 dollars
$2,000	$30,516
$20,000	$305,156
$2,000,000	$30,515,625

Tax Acts of the United States

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