Tax policy and economic inequality in the United States tax year 1963) to 77% (for tax year 1964) and 70% (for tax year 1965) for annual incomes of $1.4 million+. It was the first tax legislation to reduce the top end of the marginal income tax rate distribution since 1924. The top marginal income tax rate had been 91% since 1946 and had not been below 70% since 1936. The "Bush Tax Cuts," which are the popularly known names of the Economic Growth and Tax Relief Reconciliation Act of 2001 and the Jobs and Growth Tax Relief Reconciliation Act of 2003 passed during President George W. Bush's first term,
Solidarity tax on wealth Solidarity tax on wealth The solidarity tax on wealth ( or ISF) was an annual direct wealth tax on those in France having assets in excess of €1,300,000 (since 2011). It was one of the Socialist Party's 1981 electoral program's measures, 110 Propositions for France. First named IGF ("Impôt sur les Grandes Fortunes"), it was abolished in 1986 by Jacques Chirac's right-wing government, but re-established in 1988 as ISF in slightly different terms after François Mitterrand's re-election. In September 2017, the French government decided to abolish ISF and replace it with the tax on real estate (IFI), exonerating all financial