georgephillip
Diamond Member
- Thread starter
- #81
Real estate isn't taxed? Real estate income isn't taxed?
How should a junk-bond takeover be taxed? Any specifics?
Reaganomics - Wikipedia
"Reagan lifted remaining domestic petroleum price and allocation controls on January 28, 1981,[17] and lowered the oil windfall profits tax in August 1981.
"He ended the oil windfall profits tax in 1988.[18] During the first year of Reagan's presidency, federal income tax rates were lowered significantly with the signing of the Economic Recovery Tax Act of 1981,[19] which lowered the top marginal tax bracket from 70% to 50% and the lowest bracket from 14% to 11%.
"This act slashed estate taxes and trimmed taxes paid by business corporations by $150 billion over a five-year period. In 1982"