The new legislation would allow U.S. corporations holding money offshore to repatriate those funds at a reduced tax rate.
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It suggests one reduced tax rate applied to all types of income, not distinguishing between ordinary and long-term capital gains.
Beginning in January 2001, the newly elected Putin administration shifted to a 13 percent flat-rate income tax and also sharply reduced the payroll tax rate.
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After Kennedy reduced the tax rate from over 90% to 70%, tax revenues increased by an annual average of almost 9%.
The new reduced 18% tax rate applies to capital gains on stocks purchased after Jan. 1, 2001 and held for five years.
In the Tax Reform Act of 1986, he reduced the federal income tax rate for "folks who make less" all the way down to 15%.
And as the President promised, millionaires and billionaires will also begin doing more to help pay down the deficit through a combination of permanent tax rate increases and reduced tax benefits.
Similarly, while President Reagan cut tax rates by 25% across the board, and reduced the top income tax rate from 70% all the way down to 28%, federal tax revenues doubled during the 1980s.
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For example, the Tax Reform Act of 1986 reduced the top personal income tax rate to 28% from 50%, and collapsed the number of tax brackets to 4 from 15 while leaving projected revenues unchanged.
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The second way that your benefits are being reduced is by the tax rate limits.
Some goods and services now subject to a reduced value-added tax rate will have to bear the full 16% rate.
As discussed in my column last week, Reagan reduced the top marginal tax rate from 70% when he entered office, all the way down to 28%.
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Studies generally show that a 1% increase in the marginal tax rate reduced taxable income by 0.1-0.4%, though sometimes and in some places it may be higher.
In other words, over a span of 53 years, we reduced the top income tax rate by more than 60% and cut the top capital gains tax rate by 40%, and revenues as a percent of GDP went up.
The new Republican Congress cut the capital gains tax rate by 40%, and reduced other tax burdens on capital investment, leading to a resurgent economy.
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After that, realizations began to rise, and the top capital gains tax rate was reduced again in 2003 to 15 percent.
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By mid-1983, he had reduced the capital-gains tax rate from 28 percent to 20 percent (though he later agreed on its return to 28 percent to equalize it with the income-tax rate).
The top federal tax rate was reduced from 92% to 70% by Johnson in 1964 and the Gross Federal Debt was reduced from 71.4% of GDP down to 35.6% over the next two decades.
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In contrast, if the tax rate is reduced from 50% to 25%, what producers are allowed to keep from their production increases from one-half to three-fourths, increasing the reward for production and output by one-half.
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In contrast, if the tax rate is reduced from 50% to 25%, what producers are allowed to keep from their production increases from one-half to three-fourths, increasing the reward for production and output by one half.
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Conversely, when the capital gains tax rate was reduced under President Clinton, investments in new businesses increased, economic growth accelerated, unemployment fell, the stock market surged, and capital gains and income tax revenues rose to record levels, contributing to the significant budget surpluses of the late 1990s.
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On top of that, the Simpson Bowles plan calls for the tax code to be overhauled, with tax rates reduced and almost all tax breaks (including the special low rate for capital gains and dividends) eliminated or curbed.
By the end of his presidency, he had reduced the top marginal income-tax rate from 70 percent to 28 percent.
In order to restore competitiveness, we reduced the top marginal income-tax rate from the highest in North America to the second-lowest in Canada.
If the law were to pass (insert choking noises here), the tax rate would be reduced from the statutory rate of 35% to a special rate of 5.25%.
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The tax code rewrite was designed to shift exemptions, deductions, investment gains and losses around to allow the tax rate to be reduced at the upper end with each of the rate categories on their own being revenue neutral.
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As governor of New Mexico he reduced the state's top income tax rate by 40% and the capital gains tax by half.
This is consistent with a recent survey of top officials at U.S. companies which found that more than 60% of those corporate taxpayers would elect to keep their existing tax breaks unless the corporate rate was reduced to 25%.
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