thrive. Reagan’s economic success is credited to the tax cuts he enacted. During the 1970’s the federal tax rate for wealthy making over $200‚000 a year was at or over 70% for the entire decade. Reagan’s cuts lowered the amount of taxable income from 70% (for the highest earners) to 50% in 1982. This increase in money allowed the wealthy to invest more and hire more workers‚ leading to the recovery that began in 1984. Today though‚ President Obama has been dealing with much different circumstances
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I would like to thank the European Chamber of Commerce in the Philippines‚ the ECCP‚ for inviting me to share my thought on the topic: “Analysis of the Health and Economic Implication of the Excise Tax on Sugar-Sweetened Beverages.” This occasion‚ I may say‚ is somehow a relief from the heavy emotion‚ grief‚ and indignation that engulfed the whole nation these past few days or so because of disturbing events. I’m sure you know what I mean. At the onset‚ I would like to point out that I support the
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State of the Union‚” President Barack Obama asserts that without proper background checks‚ regaining possession of propaganda‚ and adequate proportion of government weapons to civilian firearms‚ America will continue to witness horrific events however‚ it is the constitutional right to vote for rights of the people. Obama supports his assertion through repetition. Obama’s purpose is to tighten the second amendment in order to maintain order and safety of civilians. Obama employs an assertive and determined
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Barack Obama was an influential person because of his contributions to not only America‚ but the world; despite the harsh racism and criticism. One of the first accomplishments of Barack Obama was becoming a Presidential candidate for the Democratic Party and eventually becoming America’s first black president. This proves that Barack Obama succeeded with becoming the first black U.S. president‚ even though he struggled against bigotry and the doubt of other people. This is still affecting the world
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Tax Study Guide Chapter 19: Distributions that are not in complete liquidation Earnings & Profit is the ability of a corporation to pay a dividend. Similar to the accounting concept of retained earnings. Both are measures of the firm’s accumulated capital (E&P includes both the accumulated E&P of the corporation since February 28‚ 1913‚ and the current year’s E&P). *Both cash and accrual basis corporations use the same approach when determining E&P. How to calculate E&P: Taxable Income +
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before the nation. President Obama certainly used many forms of rhetoric and rhetorical devices during his long journey that eventually ended at the steps of the White House‚ and he did not stop there. During his inaugural speech‚ President Obama put to use many‚ if not all‚ of the methods that are commonly taught at our institutions. Traditionally‚ rhetoric is based on creative arguments and analyzing‚ but in the early twentieth century people gave
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As the Obama administration ’s early August debt-deadline continues to approach‚ it has become near impossible to ignore all the coverage and chatter about the looming U.S. debt crisis. Headlines have been dominated by the constantly shifting story‚ while those with interests in the stock market have been nervously monitoring their assets. Doomsayers have called it potentially one of the largest financial crises in history‚ while lawmakers have insisted the American government‚ with the "too big
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Tax Description Income Tax is a tax on a person’s income‚ emoluments‚ profits arising from property‚ practice of profession‚ conduct of trade or business or on the pertinent items of gross income specified in the Tax Code of 1997 (Tax Code)‚ as amended‚ less the deductions and/or personal and additional exemptions‚ if any‚ authorized for such types of income‚ by the Tax Code‚ as amended‚ or other special laws. Types of Income Tax Personal Income Tax (PIT) is a direct tax levied on income
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the assumption of the non-recourse liability.The fair market value of the property at the time of sale was $1‚400‚000‚ so they claimed a loss of $55‚740. The Tax Commissioner insisted instead that they actually realized a gain of $400‚000; the difference between the principal amount of the debt and their basis. Issues:1) How should the tax court deal with the transfer of non-recourse mortgage debt in property dispositions when the fair market value of the property is less than the property’s basis
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Barack Obama is the 44th President of the United States of America. Obama is the first African American to be elected to office and the first president the United States. Obama Nation on August 4‚ 1961 in Hawaii. Obama’s defense work led him to run for the Illinois State Senate. He served as a Democrat and won the 1996 elections. During his years as a state senator‚ Obama worked with Democrats and Republicans to draft ethics laws‚ as well as expand health care services and early childhood education
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