Examples of excise tax in the following topics:
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- The whiskey excise was immediately controversial, with many people on the frontier arguing the tax unfairly targeted Westerners.
- For poorer people who were paid in whiskey, the excise was an unfair income tax that wealthier Easterners did not pay.
- Small farmers also protested that Hamilton's excise effectively gave unfair tax breaks to large distillers, most of whom were based in the east.
- Resistance to the whiskey excise tax came to a climax in 1794.
- In May of that year, federal district attorney William Rawle issued subpoenas for more than 60 distillers in Pennsylvania who had not paid the excise tax.
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- Mint, encouraged the development of American manufacturing, and drafted an elaborate system of duties, tariffs, and excises.
- One of the principal sources of revenue that Hamilton recommended Congress should approve was an excise tax on whiskey.
- Strong opposition to the whiskey tax by cottage producers in the remote, rural regions of western Pennsylvania erupted into the Whiskey Rebellion in 1794.
- After many public protests, rioting broke out in 1794 against the central government's efforts to collect the tax.
- President Washington pardoned the two rebels who were convicted of treason, and the tax was repealed in 1802.
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- He summarized Old Republican principles as the following: "love of peace, hatred of offensive war, jealousy of the state governments toward the general government, a dread of standing armies, a loathing of public debts, taxes, and excises; tenderness for the liberty of the citizen; jealousy, Argus-eyed jealousy of the patronage of the President."
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- The reports addressed public credit, banking, and raising revenue and encouraged the development of an elaborate system of duties, tariffs, and excises.
- He believed this "luxury tax" would not cause much consternation in the American public.
- For these farmers, the whiskey tax constituted an unfair income tax that favored wealthy farmers and eastern distilleries who could afford to pay a flat tax per barrel.
- In 1794, outbursts of violence against tax assesors in western Pennsylvania evolved into a large mob of poor farmers who, motivated by other economic grievances as well as the whiskey tax, demanded independence from the United States.
- Washington later pardoned the two rebels who were convicted of treason, and the tax was repealed in 1802.
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- A series of taxing legislation during the colonial era set off a series of actions between colonists and Great Britain.
- Tax loads in practice were very light, and far lower than in England.
- This also began the rise of the Sons and Daughters of Liberty, who staged public protests over the taxes.
- During the Boston Tea Party of 1773, Americans dumped British tea into Boston Harbor in protest of a hidden tax.
- Describe the contribution that British tax policy made to the colonists' grievances against the mother country
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- Roosevelt pushed for a number of tax programs that would impose high income taxes on the wealthiest Americans.
- In 1935, Roosevelt called for a tax program called the Wealth Tax Act (Revenue Act of 1935) to redistribute wealth.
- This highest tax rate covered just one individual, John D.
- The Undistributed Profits tax was enacted in 1936.
- Paid dividends were tax deductible by corporations.
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- During Reagan's presidency, federal income tax rates were lowered significantly with the signing of the bipartisan Economic Recovery Tax Act of 1981 which lowered the top marginal tax bracket from 70% to 50% and the lowest bracket from 14% to 11%.
- Additional tax increases passed by Congress and signed by Reagan, ensured that tax revenues over his two terms were 18.2% of GDP as compared to 18.1% over the 40 year period 1970-2010.
- The Tax Reform Act of 1986 was another bipartisan effort championed by Reagan, further reduced the top rate to 28%, raised the bottom bracket from 11% to 15%, and, cut the number of tax brackets to four.
- Despite the fact that TEFRA was the "largest peacetime tax increase in American history," Reagan is better known for his tax cuts and lower-taxes philosophy.
- However, federal Income Tax receipts increased from 1980 to 1989, rising from $308.7 billion to $549 billion.
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- Several new taxes imposed during the war relied on wartime patriotism to bolster public approval.
- The largest tax sum by far came from taxes imposed on manufactured goods.
- The Morrill Tariff was also an important source of tax revenue.
- The Union also levied the nation's first income tax with the Revenue Act of 1862.
- Annual income of U.S. residents was taxed at a 3 percent rate, while those earning more than $10,000 per year were taxed at a 5 percent rate.
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- The Stamp Act of 1765 was a direct tax imposed by the British Parliament on the colonies of British America.
- The purpose of the tax was to help pay for troops stationed in North America after the British victory in the Seven Years' War.
- There followed a series of new taxes and regulations, likewise opposed by the colonists.
- Raising taxes in Britain was out of the question, since there had been virulent protests in England against the Bute ministry's 1763 cider tax, with Bute being hanged in effigy.
- The novelty of the Stamp Act was that it was the first internal tax, that is, a tax based entirely on activities within the colonies, levied directly on the colonies by Parliament.
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- The four pillars of Reagan's economic policy were to reduce the growth of government spending, reduce income tax and capital gains tax, reduce government regulation of economy, and control money supply to reduce inflation.
- Economic growth would also increase the total tax revenue—even at a lower tax rate.
- On July 29, 1981, Congress passed the Economic Recovery Tax Act, which phased in a 25% overall reduction in taxes over a period of three years.
- During Reagan's presidency, federal income tax rates were lowered significantly with the signing of the bipartisan Economic Recovery Tax Act of 1981, which lowered the top marginal tax bracket (for the wealthiest Americans) from 70% to 50% and the lowest bracket (for the poorest Americans) from 14% to 11%.
- Despite the fact that TEFRA was the "largest peacetime tax increase in American history," Reagan is better known for his tax cuts and lower-taxes philosophy.