The wealth tax is passed which penalized the wealthy with higher taxes to help depression.
The US declares war on Japan
In the desert at Alamogordo, New Mexico, scientists detonated the world's first atomic bomb.
he United States drops the 1st atomic bomb on Hiroshima, Japan. "Little Boy"
The United States detonates the first thermo-nuclear device on the Pacific island of Eniwetok.
Color tv introduced into the US
The first transatlantic telephone cable begins operation.
Minimum wage to $1.25 an hour
President John F. Kennedy is assassinated in Dallas, Texas by Lee Harvey Oswald.
Minimum wage increases to $1.60 an hour
Nixon announces "New Economic Policy", including 90-day freeze on wages, prices, and rents. He also restricts gold outflows.
The minimum wage is raised from $1.6 to $2.2 per hour
Franklin National Bank declares insolvent; the largest bank failure in U.S. history.
The minimum wage is raised to $3.35 per hour.
OPEC freezes oil prices at $32 per barrel and announces plans to cut production by 10 percent.
The stock market crashes, with the Dow Jones plummeting a record 508 points. Computerized program trading as well as economic factors is blamed for the crash
The minimum wage is increased from $3.35 per hour to $3.80.
U.S. House Bank is ordered closed after revelations House members had written 8,331 bad checks
The closing of 21 auto plants in the U.S. over the next several years is announced by GM.
Crude-oil futures hit an almost nine-year high, rising 90 cents to $26.60 a barrel.
Crude oil prices drop below $30 a barrel.
Boeing Co. engineers and technical workers returned to work after a 40-day strike ending one of the biggest white-collar walkouts in US history.
Terrorists attack World Trade Center and the Pentagon.
U.S. Airways filed for bankruptcy.
AOL purchases online publisher The Huffington Post in a $315 million deal
The U.S. House of Representatives passes a small spending bill that funds the federal government until March 18 and cuts $4 billion in spending, averting a potential government shutdown