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MArishka [77]
2 years ago
7

Which recent president raised taxes when the income tax share of gdp was very low?

Business
1 answer:
alexira [117]2 years ago
7 0

George H.W. Bush firmly said, "Read my lips: no new taxes."

He would continue to be troubled by the words. The top tax rate was increased from 28% under Ronald Reagan to 31% by the Omnibus Budget Reconciliation Act of 1990.

What is Tax??

In order to ensure that taxpayers are paying the proper amount of tax at the proper time and obtaining the proper tax allowances and tax reliefs, tax compliance refers to both policy actions and individual behaviour. A tax is a mandatory financial charge or some other type of levy imposed on a taxpayer (A person or legal entity) is used by a government organisation to pay for government expenses and other public expenditures (regional, local, or national). Around 3000–2800 BC, the first recorded taxation was enacted in ancient Egypt. Non-compliance with the law includes failing to pay on time as well as evading or resisting taxation. Taxes can be paid in cash or in the labour equivalent and can be either direct or indirect.

To learn more about Tax

brainly.com/question/26316390

#SPJ4

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thz fo the points

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