40's-49's

By alyssamm8

  • Revenue Act

    Revenue Act
    This act permanently increased individual and corporate income tax rates in the U.S. Increasing these tax rates and most of the citizens paying them, the 5% victory tax was lowered to 3% and repealed the postwar credit.

  • High Unemployment

    High Unemployment
    Unemployment was high and prices and wages were low. Many people were losing their jobs and weren't able to get new ones because of the economic depression they were recovering from and WW2. Started in 1940 and ended in 1944.

  • The Great Depression

    The Great Depression
    An economic depression that caused/led to the Wall Street stock market crash.

  • Pearl Harbour

    Pearl Harbour
    The Attack on Pearl Harbor was a surprise air attack by Japan on the US. Japan was modernizing its economy and expanding causing them to want to expand their empire, trying for Hawaii. Hawaii was also harboring a bunch of oil which Japan saw $$ from.

  • Shortage in America (When rationing begins)

    Shortage in America (When rationing begins)
    WW2 caused a shortage of supplies/materials like food, shoes, metal, paper, and rubber causing citizens to ration them in case of an emergency. Started in 1942 and ended in 1947.

  • Holocaust

    Holocaust
    Antisemitism was the systematic killing of Jews by Nazi Germany led by Adolf Hitler. Started January 30th, 1933 and ended on May 8th, 1945

  • WW2

    WW2
    It was the deadliest and most destructive war in history, with 50 different nations/countries fighting and 100 million soldiers deployed. It caused inflation, poverty, deglobalization (makes countries less connected), and worsened environmental degradation (ruined ecosystems/the environment). Started on September 1st, 1939, and ended on September 2nd, 1945

  • Independence of the Philippines

    Independence of the Philippines
    Roosevelt promised to redeem Philippine freedom and war damages from the results of WW2. In order to keep the loyalty of the Philippines, Japan declared the Philippines independent in 1943. Keeping with the U.S. promise of Roosevelt and Truman, the Philippines were actually declared independent on July 4th of 1946.

  • Cold War

    Cold War
    The Soviet Union and their allies were in a long conflict with each other and started to prevent the spread of communist influence in other countries. Started on March 12th, 1947, and ended on December 26th, 1991.

  • Truman signing the Marshall Plan

    Truman signing the Marshall Plan
    Truman signs the Marshall Plan to reconstruct Europe following WW2. Provides the U.S. a boost in the economy because Europe purchased U.S. goods/services. Signed on April 3rd, 1948.