Last night, Keith Olbermann said that Herbert Hoover was for cutting corporate income taxes.
The original big government conservative supported an increase on taxes across the board, including a 15% rise in the corporate tax and an increase in tax rates for the wealthiest Americans.
11:05 am on January 18, 2008Revenue Act of 1932
From Wikipedia, the free encyclopediaThe Revenue Act of 1932 (June 6, 1932, ch. 209, 47 Stat. 169) raised United States tax rates across the board, with the rate on top incomes rising from 25 percent to 63 percent. The estate tax was doubled and corporate taxes were raised by almost 15 percent.
It was signed into law by President Herbert Hoover.
