Asked by Dylan Kazanova on Jul 18, 2024
Verified
Under Reagan's tax policy, the highest tax rate fell from 70 to 28 percent.
Tax Rate
The percentage at which an individual or corporation is taxed on their income or profits.
- Analyze the effects of economic strategies on the social structure of American society.
Verified Answer
SN
Sunny NarangJul 24, 2024
Final Answer :
True
Explanation :
During Ronald Reagan's presidency, the Economic Recovery Tax Act of 1981 and the Tax Reform Act of 1986 significantly reduced the highest marginal tax rate from 70% to 28%.
Learning Objectives
- Analyze the effects of economic strategies on the social structure of American society.