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To that end, Thatcher privatized industries and public housing, and Reagan cut the maximum capital gains tax from 28% to 20%, though in his second term he agreed to raise it back up to 28%. Reagan also cut individual income-tax rates, lowering the maximum rate from 70% to 28%.
Martin Joseph O'Malley (born January 18, 1963) is an American politician serving as the 17th and current commissioner of the Social Security Administration since 2023. [1] A member of the Democratic Party, he was the 61st governor of Maryland from 2007 to 2015 and the 48th mayor of Baltimore from 1999 to 2007.
Just before the Republican Convention began, Coolidge signed into law the Revenue Act of 1924, which reduced the top marginal tax rate from 58 percent to 46 percent, as well as personal income tax rates across the board, increased the estate tax and bolstered it with a new gift tax. [108]
Harris has stated she supports increasing the top tier capital gains tax rate to 28%, up from 20% and lower than Biden's proposed 39.6%. Harris has stated her support for a Billionaire Minimum Income Tax, increasing the tax on stock buybacks to 4%, and a ten-fold tax reduction for small business ranging from $5,000 to $50,000 in relief. [276]
The bill doubled the federal cigarette tax, rescinded a portion of the corporate tax cuts from the 1981 tax bill, [207] and according to Paul Krugman, "a third of the 1981 cut" overall. [208] Many of his supporters condemned the bill, but Reagan defended his preservation of cuts on individual income tax rates. [209]
Attempts to transfer local income tax collections to the state level by having a separate local section on the state income tax return, currently the method used to collect local income taxes in New York, Maryland, Indiana, and Iowa, have been unsuccessful. [188]
Piyush "Bobby" Jindal (born June 10, 1971 [1]) is an American politician who served as the 55th governor of Louisiana from 2008 to 2016. A member of the Republican Party, Jindal previously served as a U.S. representative from Louisiana from 2005 to 2008, and served as chair of the Republican Governors Association from 2012 to 2013.
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