Estate tax in the United StatesIn the United States, the estate tax is a federal tax on the transfer of the estate of a person who dies. The tax applies to property that is transferred by will or, if the person has no will, according to state laws of intestacy. Other transfers that are subject to the tax can include those made through a trust and the payment of certain life insurance benefits or financial accounts. The estate tax is part of the federal unified gift and estate tax in the United States.
PBSThe Public Broadcasting Service (PBS) is an American public broadcaster and non-commercial, free-to-air television network based in Arlington, Virginia. PBS is a publicly funded nonprofit organization and the most prominent provider of educational programs to public television stations in the United States, distributing shows such as Frontline, Nova, PBS NewsHour, Arthur, Sesame Street, and This Old House. PBS is funded by a combination of member station dues, the Corporation for Public Broadcasting, pledge drives, and donations from both private foundations and individual citizens.
Taxation in the United StatesThe United States of America has separate federal, state, and local governments with taxes imposed at each of these levels. Taxes are levied on income, payroll, property, sales, capital gains, dividends, imports, estates and gifts, as well as various fees. In 2020, taxes collected by federal, state, and local governments amounted to 25.5% of GDP, below the OECD average of 33.5% of GDP. The United States had the seventh-lowest tax revenue-to-GDP ratio among OECD countries in 2020, with a higher ratio than Mexico, Colombia, Chile, Ireland, Costa Rica, and Turkey.
Income taxAn income tax is a tax imposed on individuals or entities (taxpayers) in respect of the income or profits earned by them (commonly called taxable income). Income tax generally is computed as the product of a tax rate times the taxable income. Taxation rates may vary by type or characteristics of the taxpayer and the type of income. The tax rate may increase as taxable income increases (referred to as graduated or progressive tax rates). The tax imposed on companies is usually known as corporate tax and is commonly levied at a flat rate.
Tea Party movementThe Tea Party movement was an American fiscally conservative political movement within the Republican Party that began in 2009. Members of the movement called for lower taxes and for a reduction of the national debt and federal budget deficit through decreased government spending. The movement supported small-government principles and opposed government-sponsored universal healthcare. The Tea Party movement has been described as both a popular constitutional movement and as an "astroturf movement" purporting to be spontaneous and grassroots, but created by hidden elite interests.
Harry S. TrumanHarry S. Truman (May 8, 1884 December 26, 1972) was the 33rd president of the United States, serving from 1945 to 1953. A member of the Democratic Party, he previously served as the 34th vice president from January to April 1945 under Franklin D. Roosevelt and as a United States senator from Missouri from 1935 to January 1945. Assuming the presidency after Roosevelt's death, Truman implemented the Marshall Plan to rebuild the economy of Western Europe and established both the Truman Doctrine and NATO to contain the expansion of Soviet communism.
Newt GingrichNewton Leroy Gingrich (ˈɡɪŋɡrɪtʃ; né McPherson; born June 17, 1943) is an American politician and author who served as the 50th speaker of the United States House of Representatives from 1995 to 1999. A member of the Republican Party, he was the U.S. representative for Georgia's 6th congressional district serving north Atlanta and nearby areas from 1979 until his resignation in 1999. In 2012, Gingrich unsuccessfully ran for the Republican nomination for president of the United States.
Watergate scandalThe Watergate scandal was a political scandal in the United States involving the administration of President Richard Nixon from 1972 to 1974 that led to Nixon's resignation. The scandal stemmed from the Nixon administration's attempts to cover up its involvement in the June 17, 1972 break-in of the Democratic National Committee headquarters in Washington, D.C. at the Watergate Office Building. After the five perpetrators were arrested, the press and the Department of Justice connected the cash found on them at the time to the Committee for the Re-Election of the President.
Capital gainCapital gain is an economic concept defined as the profit earned on the sale of an asset which has increased in value over the holding period. An asset may include tangible property, a car, a business, or intangible property such as shares. A capital gain is only possible when the selling price of the asset is greater than the original purchase price. In the event that the purchase price exceeds the sale price, a capital loss occurs. Capital gains are often subject to taxation, of which rates and exemptions may differ between countries.
Conservatism in the United StatesIn the United States, conservatism is based on a belief in limited government, individualism, traditionalism, republicanism, and limited federal governmental power in relation to U.S. states. Conservative and Christian media organizations, along with American conservative figures, are influential, and American conservatism is one of the majority political ideologies within the Republican Party. American conservatives tend to support Christian values, moral absolutism, traditional family values, and American exceptionalism, while opposing abortion, euthanasia, same-sex marriage, and transgender rights.
