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.
- It's a culture that promotes peaceable and diversity.
- Such a culture includes lifeways, pattern of belief, values, behavior and much more.
* <em>Hope this helps:) Mark me the brainliest:))) </em>
