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Nov 16, 2023 · Life Magazine, September 24, 1945, p. 127. Around the world in World War II, economies of the countries at war shrank and consumer consumption fell. [1] The US economy was an exception, described as “a glittering consumer’s paradise,” fueled by a massive increase in employment. [2] American consumers, with money in their pockets for the ...
Controls and taxes. Federal tax policy was highly contentious during the war, with President Franklin D. Roosevelt opposing a conservative coalition in Congress. However, both sides agreed on the need for high taxes (along with heavy borrowing) to pay for the war: top marginal tax rates ranged from 81% to 94% for the duration of the war, and the income level subject to the highest rate was ...
Nov 16, 2023 · While the US did not formally enter World War II until December 1941, buildup and war in Europe and increasing tensions in the Pacific affected Americans at home. These articles focus on the full extent of World War II, from 1939 to 1945. They also look at (though not as in depth) the years leading up to the war and the effects of World War II ...
Nov 16, 2023 · 4D(ii)(c) Meat Rationing on the World War II Home Front 4D(ii)(d) Sugar: The First and Last Food Rationed on the World War II Home Front. 4D(iii) Rationing of Non-Food Items on the World War II Home Front. 4D(iv) Home Front Illicit Trade and Black Markets in World War II 4D(v) Material Drives on the World War II Home Front
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Still, more money was needed so the government again launched Liberty and Victory Loan Drives like those that helped finance the First World War. In addition, the size of the federal government more than tripled from about a million workers in 1940 to almost 3.5 million in 1945.
It worked. Corporate profits went from $6.4 billion in 1940 to $11 billion in 1944, while the machines to win the war got made in unbelievable abundance.
Overall, American aircraft production was the single largest sector of the war economy, costing $45 billion (almost a quarter of the $183 billion spent on war production), employing a staggering two million workers, and, most importantly, producing over 125,000 aircraft, which Table 6 describe in more detail.
