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,
Horse racing in Great Britain famous British betting shop chains such as William Hill, Ladbrokes and Corals were legally established on the high street. Previously betting was either on course, via certain credit betting offices, or illegally conducted often in or around public houses, with 'bookies runners' ferrying the bets from bookmaker to client. Betting is taxed under the authority of various acts of Parliament. A gross profit tax is levied on all UK based bookmakers which is payable to the exchequer, and a separate sum is agreed and collected by the Horserace Betting Levy Board, a non-departmental public body of the Department for Culture,