Excerpt from General Explanation of the Economic Recovery Tax Act of 1981 (H. R. 4242, 97th Congress, Public Law 97-34): December 29, 1981
The Act provides cumulative across-the-board reductions in indi vidual income tax rates of percent in 1981, 10 percent in 1982, 19 percent in 1983, and 23 percent in 1984 and subsequent years. These tax reductions will be reflected in reductions in withholding on October 1, 1981, July 1, 1982, and July 1, 1983.
The top marginal tax rate is reduced from 70 percent to 50 percent beginning January 1, 1982. The maximum tax rate on long term capital gains is reduced to 20 percent for sales or exchanges after June 9, 1981.
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Paperback. Condition: New. Print on Demand. This book lays the groundwork for the 1981 Economic Recovery Tax Act, detailing the motivations of its architects and the impact of its tax cuts and other provisions. These changes, implemented by President Reagan in his first year in office, represented a bold gamble to stimulate economic activity and reduce inflation. The book provides a comprehensive view of the act's provisions, including cuts to individual income tax rates, incentives for business investment and savings, and reforms to estate and gift taxes. The author traces the legislative history of the act, examining the ideas and debates that shaped its provisions. The book also features a revealing look at the economic context of the time, including the need to address high inflation and slow economic growth. Through this examination, this book offers valuable insights into the motivations and goals behind a major piece of legislation that reshaped the U.S. tax code. This book is a reproduction of an important historical work, digitally reconstructed using state-of-the-art technology to preserve the original format. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in the book. print-on-demand item. Seller Inventory # 9781334850196_0
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PAP. Condition: New. New Book. Shipped from UK. Established seller since 2000. Seller Inventory # LX-9781334850196
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PAP. Condition: New. New Book. Shipped from UK. Established seller since 2000. Seller Inventory # LX-9781334850196
Quantity: 15 available