WWII+-+Economy

=**Add examples of WWII affecting the economy.**= //**shawn/tim**//: the war had helped the economy recover. similar to the situatuion after world war 1, Amerca emerged from the second world war with a strong economy and relatively few casualties.

//**Anthony**//: WWII helped provide more jobs for Americans. More industries were converting to war production. For instance, makers of mechanical pencils were making bomb parts, and bed spread manufacturers started making mosquito netting.


 * Kemsen/Lindsey:** We came out of the Depression thanks to the war because the war created more jobs on the home-front.

Curtis & Jon: The federal tax policy was argued greatly during the war, with Roosevelt battling a conservative Congress. Everyone agreed on the need for high taxes to pay for the war. Roosevelt tried unsuccessfully to increase tax on incomes over $25,000, while Congress enlarged the base downward. By 1944 nearly every employed person was paying federal income taxes. Many controls were put on the economy. The most important were price controls, imposed on most products and monitored by the Office of Price Administration. Wages were also controlled. In addition, the military imposed priorities that largely shaped industrial production.