Kylemckinnon15 Kylemckinnon15
  • 21-11-2017
  • History
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how did wilson compensate for the reduced government income resulting from lowing his tarrifs?

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andriansp andriansp
  • 21-11-2017
Wilson compseate for the reduced government income by created an income tax.
This decision was known as the Revenue act of 1913. Prior to this, most of government income came from the amount of tariff (back the tariff was around 40%). With the revenue act of 1913, the tariff was cut down into 25% but each citizens are required to pay income tax.
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