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Income tax

Index Income tax

An income tax is a tax imposed on individuals or entities (taxpayers) that varies with respective income or profits (taxable income). [1]

88 relations: Alternative minimum tax, American Civil War, Battle of Waterloo, Brunei, Capital gain, Catholic emancipation, Chancellor of the Exchequer, Charitable organization, Civilization, Conservative Party (UK), Crimean War, Deadweight loss, Dean of Bristol, Deloitte, Dividend, Double taxation, Economy, Financial accounting, Finland, First Fruits, Fiscal policy, Flat tax, Foreign tax credit, France, French Revolutionary Wars, General election, Han dynasty, Henry Addington, 1st Viscount Sidmouth, Henry Beeke, Henry II of England, Income Tax Act 1842, Income tax in Australia, Income tax in India, Income tax in Singapore, Income tax in the United States, Joseph Hume, Kingdom of England, Kingdom of Great Britain, Laity, Legislator, Means of production, Mises Institute, Money, National Insurance, Norway, Pay-as-you-earn tax, Penny (British pre-decimal coin), Pension, Pollock v. Farmers' Loan & Trust Co., Pound sterling, ..., Prime minister, Profit (accounting), Progressive tax, Real property, Regressive tax, Revenue Act of 1861, Robert Peel, Roman Republic, Saladin tithe, Shilling, Singapore, Sixteenth Amendment to the United States Constitution, Slavery, Social security, State income tax, Sweden, Tax, Tax avoidance, Tax consolidation, Tax rate, Tax treaty, Taxable income, Taxation in Germany, Third Crusade, Tithe, Treaty of Amiens, Union (American Civil War), United Kingdom of Great Britain and Ireland, USA Today, Virtuous circle and vicious circle, Wang Mang, Wealth, Wealth tax, William Ewart Gladstone, William Pitt the Younger, Wilson–Gorman Tariff Act, Withholding tax, Xin dynasty. Expand index (38 more) »

Alternative minimum tax

The alternative minimum tax (AMT) is a supplemental income tax imposed by the United States federal government required in addition to baseline income tax for certain individuals, corporations, estates, and trusts that have exemptions or special circumstances allowing for lower payments of standard income tax.

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American Civil War

The American Civil War (also known by other names) was a war fought in the United States from 1861 to 1865.

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Battle of Waterloo

The Battle of Waterloo was fought on Sunday, 18 June 1815, near Waterloo in present-day Belgium, then part of the United Kingdom of the Netherlands.

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Brunei

Brunei, officially the Nation of Brunei, the Abode of Peace (Negara Brunei Darussalam, Jawi), is a sovereign state located on the north coast of the island of Borneo in Southeast Asia.

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Capital gain

A capital gain refers to profit that results from a sale of a capital asset, such as stock, bond or real estate, where the sale price exceeds the purchase price.

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Catholic emancipation

Catholic emancipation or Catholic relief was a process in the Kingdom of Great Britain and Ireland in the late 18th century and early 19th century that involved reducing and removing many of the restrictions on Roman Catholics introduced by the Act of Uniformity, the Test Acts and the penal laws.

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Chancellor of the Exchequer

The Chancellor and Under-Treasurer of Her Majesty's Exchequer, commonly known as the Chancellor of the Exchequer, or simply the Chancellor, is a senior official within the Government of the United Kingdom and head of Her Majesty's Treasury.

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Charitable organization

A charitable organization or charity is a non-profit organization (NPO) whose primary objectives are philanthropy and social well-being (e.g. charitable, educational, religious, or other activities serving the public interest or common good).

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Civilization

A civilization or civilisation (see English spelling differences) is any complex society characterized by urban development, social stratification imposed by a cultural elite, symbolic systems of communication (for example, writing systems), and a perceived separation from and domination over the natural environment.

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Conservative Party (UK)

The Conservative Party, officially the Conservative and Unionist Party, is a centre-right political party in the United Kingdom.

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Crimean War

The Crimean War (or translation) was a military conflict fought from October 1853 to February 1856 in which the Russian Empire lost to an alliance of the Ottoman Empire, France, Britain and Sardinia.

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Deadweight loss

A deadweight loss, also known as excess burden or allocative inefficiency, is a loss of economic efficiency that can occur when equilibrium for a good or a service is not achieved.

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Dean of Bristol

The Dean of Bristol is the head of the Chapter of the Cathedral Church of the Holy and Undivided Trinity, Bristol, England.

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Deloitte

Deloitte Touche Tohmatsu Limited, commonly referred to as Deloitte, is a UK-incorporated multinational professional services network.

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Dividend

A dividend is a payment made by a corporation to its shareholders, usually as a distribution of profits.

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Double taxation

Double taxation is the levying of tax by two or more jurisdictions on the same declared income (in the case of income taxes), asset (in the case of capital taxes), or financial transaction (in the case of sales taxes).

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Economy

An economy (from Greek οίκος – "household" and νέμoμαι – "manage") is an area of the production, distribution, or trade, and consumption of goods and services by different agents.

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Financial accounting

Financial accounting (or financial accountancy) is the field of accounting concerned with the summary, analysis and reporting of financial transactions pertaining to a business.

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Finland

Finland (Suomi; Finland), officially the Republic of Finland is a country in Northern Europe bordering the Baltic Sea, Gulf of Bothnia, and Gulf of Finland, between Norway to the north, Sweden to the northwest, and Russia to the east.

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First Fruits

First Fruits is a religious offering of the first agricultural produce of the harvest.

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Fiscal policy

In economics and political science, fiscal policy is the use of government revenue collection (mainly taxes) and expenditure (spending) to influence the economy.

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Flat tax

A flat tax (short for flat tax rate) is a tax system with a constant marginal rate, usually applied to individual or corporate income.

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Foreign tax credit

A foreign tax credit (FTC) is generally offered by income tax systems that tax residents on worldwide income, to mitigate the potential for double taxation.

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France

France, officially the French Republic (République française), is a sovereign state whose territory consists of metropolitan France in Western Europe, as well as several overseas regions and territories.

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French Revolutionary Wars

The French Revolutionary Wars were a series of sweeping military conflicts lasting from 1792 until 1802 and resulting from the French Revolution.

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General election

A general election is an election in which all or most members of a given political body are chosen.

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Han dynasty

The Han dynasty was the second imperial dynasty of China (206 BC–220 AD), preceded by the Qin dynasty (221–206 BC) and succeeded by the Three Kingdoms period (220–280 AD). Spanning over four centuries, the Han period is considered a golden age in Chinese history. To this day, China's majority ethnic group refers to themselves as the "Han Chinese" and the Chinese script is referred to as "Han characters". It was founded by the rebel leader Liu Bang, known posthumously as Emperor Gaozu of Han, and briefly interrupted by the Xin dynasty (9–23 AD) of the former regent Wang Mang. This interregnum separates the Han dynasty into two periods: the Western Han or Former Han (206 BC–9 AD) and the Eastern Han or Later Han (25–220 AD). The emperor was at the pinnacle of Han society. He presided over the Han government but shared power with both the nobility and appointed ministers who came largely from the scholarly gentry class. The Han Empire was divided into areas directly controlled by the central government using an innovation inherited from the Qin known as commanderies, and a number of semi-autonomous kingdoms. These kingdoms gradually lost all vestiges of their independence, particularly following the Rebellion of the Seven States. From the reign of Emperor Wu (r. 141–87 BC) onward, the Chinese court officially sponsored Confucianism in education and court politics, synthesized with the cosmology of later scholars such as Dong Zhongshu. This policy endured until the fall of the Qing dynasty in 1911 AD. The Han dynasty saw an age of economic prosperity and witnessed a significant growth of the money economy first established during the Zhou dynasty (c. 1050–256 BC). The coinage issued by the central government mint in 119 BC remained the standard coinage of China until the Tang dynasty (618–907 AD). The period saw a number of limited institutional innovations. To finance its military campaigns and the settlement of newly conquered frontier territories, the Han government nationalized the private salt and iron industries in 117 BC, but these government monopolies were repealed during the Eastern Han dynasty. Science and technology during the Han period saw significant advances, including the process of papermaking, the nautical steering ship rudder, the use of negative numbers in mathematics, the raised-relief map, the hydraulic-powered armillary sphere for astronomy, and a seismometer for measuring earthquakes employing an inverted pendulum. The Xiongnu, a nomadic steppe confederation, defeated the Han in 200 BC and forced the Han to submit as a de facto inferior partner, but continued their raids on the Han borders. Emperor Wu launched several military campaigns against them. The ultimate Han victory in these wars eventually forced the Xiongnu to accept vassal status as Han tributaries. These campaigns expanded Han sovereignty into the Tarim Basin of Central Asia, divided the Xiongnu into two separate confederations, and helped establish the vast trade network known as the Silk Road, which reached as far as the Mediterranean world. The territories north of Han's borders were quickly overrun by the nomadic Xianbei confederation. Emperor Wu also launched successful military expeditions in the south, annexing Nanyue in 111 BC and Dian in 109 BC, and in the Korean Peninsula where the Xuantu and Lelang Commanderies were established in 108 BC. After 92 AD, the palace eunuchs increasingly involved themselves in court politics, engaging in violent power struggles between the various consort clans of the empresses and empresses dowager, causing the Han's ultimate downfall. Imperial authority was also seriously challenged by large Daoist religious societies which instigated the Yellow Turban Rebellion and the Five Pecks of Rice Rebellion. Following the death of Emperor Ling (r. 168–189 AD), the palace eunuchs suffered wholesale massacre by military officers, allowing members of the aristocracy and military governors to become warlords and divide the empire. When Cao Pi, King of Wei, usurped the throne from Emperor Xian, the Han dynasty would eventually collapse and ceased to exist.

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Henry Addington, 1st Viscount Sidmouth

Henry Addington, 1st Viscount Sidmouth, (30 May 1757 – 15 February 1844) was a British statesman who served as Prime Minister from 1801 to 1804.

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Henry Beeke

Henry Beeke (6 January 1751 – 9 March 1837) was a historian, theologian and writer on taxation and finance.

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Henry II of England

Henry II (5 March 1133 – 6 July 1189), also known as Henry Curtmantle (Court-manteau), Henry FitzEmpress or Henry Plantagenet, ruled as Count of Anjou, Count of Maine, Duke of Normandy, Duke of Aquitaine, Count of Nantes, King of England and Lord of Ireland; at various times, he also partially controlled Wales, Scotland and Brittany.

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Income Tax Act 1842

The Income Tax Act 1842 (citation 5 & 6 Vict c. 35) was an Act of the Parliament of the United Kingdom, passed under the government of Robert Peel, which re-introduced an income tax in Britain, at the rate of 7 pence (2.9%, there then being 240 pence in the pound) in the pound on all annual incomes greater than £150 (£12,730 in 2015).

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Income tax in Australia

Income tax in Australia is imposed by the federal government on the taxable income of individuals and corporations.

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Income tax in India

The Constitution of India → Schedule VII → Union List → Entry 82 has given the power to the Central Government to levy a tax on any income other than agricultural income, which is defined in Section 10(1) of the Income Tax Act, 1961.

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Income tax in Singapore

Income tax in Singapore involves both individual income tax and corporate income tax.

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Income tax in the United States

Income taxes in the United States are imposed by the federal, most state, and many local governments.

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Joseph Hume

Joseph Hume FRS (22 January 1777 – 20 February 1855) was a Scottish doctor and Radical MP.

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Kingdom of England

The Kingdom of England (French: Royaume d'Angleterre; Danish: Kongeriget England; German: Königreich England) was a sovereign state on the island of Great Britain from the 10th century—when it emerged from various Anglo-Saxon kingdoms—until 1707, when it united with Scotland to form the Kingdom of Great Britain.

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Kingdom of Great Britain

The Kingdom of Great Britain, officially called simply Great Britain,Parliament of the Kingdom of England.

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Laity

A layperson (also layman or laywoman) is a person who is not qualified in a given profession and/or does not have specific knowledge of a certain subject.

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Legislator

A legislator (or lawmaker) is a person who writes and passes laws, especially someone who is a member of a legislature.

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Means of production

In economics and sociology, the means of production (also called capital goods) are physical non-human and non-financial inputs used in the production of economic value.

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Mises Institute

The Mises Institute, short name for Ludwig von Mises Institute for Austrian Economics, is a tax-exempt educative organization located in Auburn, Alabama, United States.

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Money

Money is any item or verifiable record that is generally accepted as payment for goods and services and repayment of debts in a particular country or socio-economic context.

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National Insurance

National Insurance (NI) is a tax system in the United Kingdom paid by workers and employers for funding state benefits.

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Norway

Norway (Norwegian: (Bokmål) or (Nynorsk); Norga), officially the Kingdom of Norway, is a unitary sovereign state whose territory comprises the western portion of the Scandinavian Peninsula plus the remote island of Jan Mayen and the archipelago of Svalbard.

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Pay-as-you-earn tax

A pay-as-you-earn tax (PAYE) or pay-as-you-go (in Australia) is a withholding tax on income payments to employees.

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Penny (British pre-decimal coin)

The pre-decimal penny (1d) was a coin worth of a pound sterling.

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Pension

A pension is a fund into which a sum of money is added during an employee's employment years, and from which payments are drawn to support the person's retirement from work in the form of periodic payments.

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Pollock v. Farmers' Loan & Trust Co.

Pollock v. Farmers' Loan & Trust Company,, affirmed on rehearing,, with a ruling of 5–4, was a landmark case in which the Supreme Court of the United States ruled that the unapportioned income taxes on interest, dividends and rents imposed by the Income Tax Act of 1894 were, in effect, direct taxes, and were unconstitutional because they violated the provision that direct taxes be apportioned.

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Pound sterling

The pound sterling (symbol: £; ISO code: GBP), commonly known as the pound and less commonly referred to as Sterling, is the official currency of the United Kingdom, Jersey, Guernsey, the Isle of Man, South Georgia and the South Sandwich Islands, the British Antarctic Territory, and Tristan da Cunha.

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Prime minister

A prime minister is the head of a cabinet and the leader of the ministers in the executive branch of government, often in a parliamentary or semi-presidential system.

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Profit (accounting)

Profit, in accounting, is an income distributed to the owner in a profitable market production process (business).

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Progressive tax

A progressive tax is a tax in which the tax rate increases as the taxable amount increases.

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Real property

In English common law, real property, real estate, realty, or immovable property is land which is the property of some person and all structures (also called improvements or fixtures) integrated with or affixed to the land, including crops, buildings, machinery, wells, dams, ponds, mines, canals, and roads, among other things.

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Regressive tax

A regressive tax is a tax imposed in such a manner that the tax rate decreases as the amount subject to taxation increases.

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Revenue Act of 1861

The Revenue Act of 1861, formally cited as, included the first U.S. Federal income tax statute (see). The Act, motivated by the need to fund the Civil War, imposed an income tax to be "levied, collected, and paid, upon the annual income of every person residing in the United States, whether such income is derived from any kind of property, or from any profession, trade, employment, or vocation carried on in the United States or elsewhere, or from any other source whatever " The tax imposed was a flat tax, with a rate of 3% on incomes above $800.

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Robert Peel

Sir Robert Peel, 2nd Baronet, (5 February 17882 July 1850) was a British statesman of the Conservative Party who served twice as Prime Minister of the United Kingdom (1834–35 and 1841–46) and twice as Home Secretary (1822–27 and 1828–30).

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Roman Republic

The Roman Republic (Res publica Romana) was the era of classical Roman civilization beginning with the overthrow of the Roman Kingdom, traditionally dated to 509 BC, and ending in 27 BC with the establishment of the Roman Empire.

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Saladin tithe

The Saladin tithe, or the Aid of 1188, was a tax, or more specifically a tallage, levied in England and to some extent in France in 1188, in response to the capture of Jerusalem by Saladin in 1187.

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Shilling

The shilling is a unit of currency formerly used in Austria, the United Kingdom, Australia, New Zealand, United States, and other British Commonwealth countries.

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Singapore

Singapore, officially the Republic of Singapore, is a sovereign city-state and island country in Southeast Asia.

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Sixteenth Amendment to the United States Constitution

The Sixteenth Amendment (Amendment XVI) to the United States Constitution allows the Congress to levy an income tax without apportioning it among the states or basing it on the United States Census.

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Slavery

Slavery is any system in which principles of property law are applied to people, allowing individuals to own, buy and sell other individuals, as a de jure form of property.

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Social security

Social security is "any government system that provides monetary assistance to people with an inadequate or no income." Social security is enshrined in Article 22 of the Universal Declaration of Human Rights, which states: Everyone, as a member of society, has the right to social security and is entitled to realization, through national effort and international co-operation and in accordance with the organization and resources of each State, of the economic, social and cultural rights indispensable for his dignity and the free development of his personality.

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State income tax

Most individual U.S. states collect a state income tax in addition to federal income tax.

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Sweden

Sweden (Sverige), officially the Kingdom of Sweden (Swedish), is a Scandinavian country in Northern Europe.

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Tax

A tax (from the Latin taxo) is a mandatory financial charge or some other type of levy imposed upon a taxpayer (an individual or other legal entity) by a governmental organization in order to fund various public expenditures.

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Tax avoidance

Tax avoidance is the legal usage of the tax regime in a single territory to one's own advantage to reduce the amount of tax that is payable by means that are within the law.

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Tax consolidation

Tax consolidation, or combined reporting, is a regime adopted in the tax or revenue legislation of a number of countries which treats a group of wholly owned or majority-owned companies and other entities (such as trusts and partnerships) as a single entity for tax purposes.

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Tax rate

In a tax system, the tax rate is the ratio (usually expressed as a percentage) at which a business or person is taxed.

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Tax treaty

Many countries have entered into tax treaties (also called double tax agreements, or DTAs) with other countries to avoid or mitigate double taxation.

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Taxable income

Taxable income refers to the base upon which an income tax system imposes tax.

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Taxation in Germany

Taxes in Germany are levied by the federal government (Bund), the states (Länder) as well as the municipalities (Städte/Gemeinden).

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Third Crusade

The Third Crusade (1189–1192), was an attempt by European Christian leaders to reconquer the Holy Land following the capture of Jerusalem by the Ayyubid sultan, Saladin, in 1187.

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Tithe

A tithe (from Old English: teogoþa "tenth") is a one-tenth part of something, paid as a contribution to a religious organization or compulsory tax to government.

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Treaty of Amiens

The Treaty of Amiens (French: la paix d'Amiens) temporarily ended hostilities between the French Republic and Great Britain during the French Revolutionary Wars.

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Union (American Civil War)

During the American Civil War (1861–1865), the Union, also known as the North, referred to the United States of America and specifically to the national government of President Abraham Lincoln and the 20 free states, as well as 4 border and slave states (some with split governments and troops sent both north and south) that supported it.

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United Kingdom of Great Britain and Ireland

The United Kingdom of Great Britain and Ireland was established by the Acts of Union 1800, which merged the kingdoms of Great Britain and Ireland.

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USA Today

USA Today is an internationally distributed American daily, middle-market newspaper that serves as the flagship publication of its owner, the Gannett Company.

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Virtuous circle and vicious circle

The terms virtuous circle and vicious circle (also referred to as virtuous cycle and vicious cycle) refer to complex chains of events that reinforce themselves through a feedback loop.

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Wang Mang

Wang Mang (c. 45 – 6 October 23 AD), courtesy name Jujun, was a Han Dynasty official and consort kin who seized the throne from the Liu family and founded the Xin (or Hsin, meaning "renewed") Dynasty (新朝), ruling 9–23 AD.

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Wealth

Wealth is the abundance of valuable resources or valuable material possessions.

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Wealth tax

A wealth tax (also called a capital tax or equity tax) is a levy on the total value of personal assets, including: bank deposits, real estate, assets in insurance and pension plans, ownership of unincorporated businesses, financial securities, and personal trusts.

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William Ewart Gladstone

William Ewart Gladstone, (29 December 1809 – 19 May 1898) was a British statesman of the Liberal Party.

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William Pitt the Younger

William Pitt the Younger (28 May 1759 – 23 January 1806) was a prominent British Tory statesman of the late 18th and early 19th centuries.

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Wilson–Gorman Tariff Act

The Revenue Act or Wilson-Gorman Tariff of 1894 (ch. 349, §73,, August 27, 1894) slightly reduced the United States tariff rates from the numbers set in the 1890 McKinley tariff and imposed a 2% income tax.

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Withholding tax

A withholding tax, or a retention tax, is an income tax to be paid to the government by the payer of the income rather than by the recipient of the income.

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Xin dynasty

The Xin dynasty was a Chinese dynasty (termed so despite having only one emperor) which lasted from 9 to 23 AD.

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References

[1] https://en.wikipedia.org/wiki/Income_tax

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