Tax-Cuts

Tax Reform Act of 1986 - Corporate Lobbying Secures Massive Rate Reductions

1986-10-22 00:00:00 +0000 UTC | Importance: 8/10

On October 22, 1986, President Reagan signed the Tax Reform Act of 1986, the centerpiece of his second term domestic agenda. The legislation dramatically lowered the top individual income tax rate from 50% to 28% - the largest single drop in the history of the federal income tax - while reducing the …

Ronald Reagan Corporate lobbyists Senate Finance Committee Congress tax-cuts corporate-lobbying wealth-transfer reaganomics inequality +1 more

Reagan Signs ERTA: Massive Tax Cuts for Wealthy Begin Inequality Explosion

1981-08-13 00:00:00 +0000 UTC | Importance: 9/10

President Ronald Reagan signs the Economic Recovery Tax Act (ERTA), enacting sweeping tax cuts that disproportionately benefit the wealthy and inaugurate the “supply-side economics” era. The legislation slashes the top marginal tax rate from 70% to 50% and the bottom rate from 14% to …

Ronald Reagan Congress Jack Kemp William Roth tax-cuts reaganomics supply-side-economics wealth-inequality trickle-down +1 more