During World War II, for example, political support for great fortunes diminished and the government sharply increased taxes on capital gains, dividends, and high incomes in general. When World War II produced a strong recovery from the Great Depression of the 1930's, President Roosevelt and Congress slapped on an excess-profits tax to ensure that shareholders would not benefit too much.
但使美国股市如此诱人的投资回报却反映了微妙的政治平衡，特别是影响股票的税率随政治力量的改变而不断变化。如二次大战期间，对巨额财富的政治支持下降，政府对资本收益、股息和一切高收入的课税激增。当二次大战使经济从20世纪30年代的萧条阶段明显复苏后，罗斯福总统和议会抛出了超额利润税，确保股东们不会受益过多。