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.
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2.08
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I just did it on calculator
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This is your choice. no wrong answer
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The Embargo Act of 1807 was a law passed by the United State Congress and signed by President Thomas Jefferson on 22 December 1807. It prohibited American ships from trading in all foreign ports.
