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,
Income tax in the Netherlands substantial interest, even if they do not amount to 5%. Income from substantial interest includes: For 2007 only there was a reduced rate ranging from 22 to 25%. See also . There is a flat tax on the total value of the savings and investments of 1.2% per year. It is nominally part of the income tax, as a 30% tax on a fixed assumed yield of 4% of the value of the assets (this is regardless of the actual income from the assets). EUR 21,139 (2012; higher for 65+ with a low income) of the value of the assets