Search results
Results from the WOW.Com Content Network
The term typically carries strong negative connotations. General profiteering, making a profit criticized as excessive or unreasonable, also occurs in peacetime. [2] An example of war profiteers were the "shoddy" millionaires who allegedly sold recycled wool and cardboard shoes to soldiers during the American Civil War.
However, many countries imposed an excess profits tax during COVID to fund extra healthcare workers and to implement protection, such as masks. Equally, from the onset of the pandemic to March 2021, the global fiscal response to mitigate the extensive health and economic impacts was unprecedented, totalling US$16 trillion in 2020 (IMF, 2021).
A war economy or wartime economy is the set of preparations undertaken by a modern state to mobilize its economy for war production. Philippe Le Billon describes a war economy as a "system of producing, mobilizing and allocating resources to sustain the violence."
Today, Lockheed Martin’s newest jet, the F-35 Lightning II, draws its name from the original P-38 in World War II. North American Aviation ©Hulton Archive / Archive Photos via Getty Images
As German citizens, many Austrians fought on the side of Germany during World War II. After the Allied victory, the Allies treated Austria as a victim of Nazi aggression, rather than as a perpetrator. The United States Marshall Plan provided aid. [65] The 1955 Austrian State Treaty re-established Austria as a free, democratic, and sovereign ...
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 lowered from $5,000,000 ...
American industry and labor prospered after World War II, but hard times set in after 1970. For the first time there was stiff competition from low-cost producers around the globe. Many rust belt industries faded or collapsed, especially the manufacture of steel, TV sets, shoes, toys, textiles and clothing.
The history of the United States from 1917 to 1945 was marked by World War I, the interwar period, the Great Depression, and World War II. The United States tried and failed to broker a peace settlement for World War I , then entered the war after Germany launched a submarine campaign against U.S. merchant ships that were supplying Germany's ...