Bring Back the War Tax [View all]

[tecelote]

Is it even moral to profit from war? If war is business then it should be highly taxed.

Since WWII, business interests have tried to convince us that profit from war was business as usual. It seems we have bought in to it.

It's time we reintroduce the tax on war profits if for no other reason than to take care of our Veterans. However, the profits from war are massive and these taxes could help Americans in many ways.

Excess profits tax

In the United States, an excess profits tax is a tax, some say excise tax, on any profit above a certain amount. A predominantly wartime fiscal instrument, the tax was designed primarily to capture wartime profits that exceeded normal peacetime profits to prevent perverse incentives for manufacturers to engage in war profiteering and warmongering.

Snip...
The Korean War induced Congress to reimpose an excess profits tax, effective from 1 July 1950 to 31 December 1953. The tax rate was 30 percent of excess profits with the top corporate tax rate rising from 45% to 47%, a 70 percent ceiling for the combined corporation and excess profits taxes.


https://en.wikipedia.org/wiki/Excess_profits_tax

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Take the profit out of our wars and they will end tomorrow.