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Politics : Formerly About Advanced Micro Devices

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TimF
To: Ron who wrote (955384)8/9/2016 5:47:57 PM
From: PKRBKR1 Recommendation   of 1575421
 
Original point =Reagan RAISED taxes. Period.

No argument and he did it more than once but these don't compare with the cuts made in '81 that resulted in massive economic growth.

The Office of Tax Analysis of the United States Department of the Treasury summarized the tax changes as follows: [3]

  • repealed scheduled increases in accelerated depreciation deductions
  • tightened safe harbor leasing rules
  • required taxpayers to reduce basis by 50% of investment tax credit
  • instituted 10% withholding on dividends and interest paid to individuals
  • tightened completed contract accounting rules
  • increased FUTA wage base and tax rate
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