The bill by President George W. Bush EGTRRA called for large tax cuts similar to Economic Recovery Act of 1981 by President Reagan.
The assumptions behind the theory used as a basis by President Reagan to lower the taxes of big companies was Laffer's theory. This states that when an industry is charged with more tax, it suppresses their capability to produce more products. Since more products mean more tax. If the tax collection is lowered, this will result in higher production and is good for the country's economy. Also, they thought that the previous tax collection is more than what the government needs.
Did you ever find out the answer?
Write that in the paper: After three years of a bloody and frustrating war, the United States, the People's Republic of China, North Korea, and South Korea agree to an armistice, bringing the Korean War to an end. The armistice ended America's first experiment with the Cold War concept of “limited war
Congress had no power to coin money
Congress was unable to impose taxes
No national court system was established to protect the rights of U.S citizens
Congress was unable to regulate interstate and foreign commerce
Answer: Pay the bank a penalty.
Explanation:
Certificates of deposit (CDs) can be a risk-free way to save money while getting more interest than a savings account. Customers can collect their money before the prescribed time, but penalties can be very high.
Federal law dictates a minimum penalty of seven days interest for early withdrawal on accounts called time deposits, but there´s no limit to maximum penalty fees.
