How did the emancipation proclamation the war effort in a practical way

Explanation:

The Proclamation broadened the goals of the Union war effort; it made the eradication of slavery into an explicit Union goal, in addition to the reuniting of the country. ... Because the Emancipation Proclamation made the abolition of slavery into a Union goal, it linked support for the Confederacy to support for slavery.

the answer is: must pay taxes on profits

since it is considered as a part of your income, profits from investments is eligible for tax payment.

the tax from your investment could be influenced by how long you decided to sell it. united states promotes keeping your investment for long term period. so, the tax rate for investments that you sell in less than one year is typically higher compared to investments that you sell in more than one year period.