Business profits were taxed on a sliding scale; if a company kept 1 percent of their net income, 10 percent of that amount would be taxed under the UP Tax. If a company kept 70 percent of their net income, the company would be taxed at a rate of 73.91 percent on that amount. Conservative critics of the New Deal considered this a burden on business growth.
Revised Estimates of Real Gross Product of Nonfinancial Corporate Business for 1997-2000.(Statistical Data Included)
Dec 01, 2000; FOR 1997-99 and the first two quarters of 2000, the annual and quarterly estimates of real gross product of nonfinancial...