The second tax cut (The Tax Reform Act of 1986) among other things, cut the highest Personal Income Tax rate from 50% to 38.5% but decreasing to 28% in the following years and increased the highest Capital Gains Tax rate from 20% to 28%
The newly independent African countries <u>did not succeed</u> in achieving economic independence from the West in the second half of the twentieth century.
<h3>What is economic independence?</h3>
Economic independence refers to the economic resilience of an independent political entity.
A country is economically independent when it is able to:
- Stand alone economically.
- Pursue competitive policies.
Thus, the newly independent African countries <u>did not succeed</u> in achieving economic independence from the West in the second half of the twentieth century.
Learn more about economic independence at brainly.com/question/14289806
#SPJ1
