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,
Robin Hood tax Chairman of the UK Treasury Select Committee, has listed 17 problems with the FTT tax, including a loss of overall tax revenue for Britain. Critics have conceded that the FTT would reduce the overall volume of transactions, especially those originating from High-frequency trading, but deny that it would reduce the risk of further crises in the financial sector. When a 0.5% financial transaction tax was implemented in Sweden, over 50% of trades in Swedish equities moved to London. On 15 April 1990, the tax on fixed-income securities was abolished. It is notable that the tax imposed an increased cost on