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,
Opposition to the War of 1812 in Britain ending up in the military, leading Britain to have a substantially higher rate of mobilization than even its rival, France. The death rate among those in the military also rose dramatically, further angering the British public. For those not in the military, the war affected the pocketbook. By 1812, almost 35% of income went to taxes, a rate much higher than the tax rates in pervious wars. Given all of this, many in Britain were angered about the start of another war, which some, like William Cobbet of the "Weekly Register", argued was just another way for those who profited