Military History/Have a question about the economic impact of WW2 on countries like the US, and Germany.
What was the economic impact of World War 2 on the US and Germany, did the governments still tax their citizens and how did they get the money to pay for all the tanks and supplies for the war?
There was still an income tax like there was before the war. The United States, and most of the other countries involved in the war, sold War Bonds. This was basically where the citizen would lend the government money, at a fixed rate of interest, and the government agreed to pay it back to the citizen, with interest at a certain time (usually ten years later). In addition, during and after the war ended the income tax rates were increased so the people with the most income were very heavily taxed.
Here is a graph that shows that the income tax rates rose sharply after we were attacked in 1941:
Hope this helps,