NationMaster - Encyclopedia: Tariff of 1828

The Tariff of 1828 (also known as the Tariff of Abominations, ch. 55, 4 Stat. 270, enacted 1828-05-19), was a protective tariff passed by the U.S. Congress in 1828. It came to be known as the "Tariff of Abominations" to its Southern detractors because of the effects it had on the Antebellum Southern economy. Furthermore, it was the highest tariff in U.S. peacetime history, enacting a 62% tax on 92% of all imported goods.^[1] The United States Statutes at Large, commonly referred to as the Statutes at Large, is the official source for the laws and resolutions passed by Congress. ... Year 1828 (MDCCCXXVIII) was a leap year starting on Tuesday (link will display the full calendar) of the Gregorian Calendar (or a leap year starting on Thursday of the 12-day slower Julian calendar). ... is the 139th day of the year (140th in leap years) in the Gregorian calendar. ... Tax rates around the world Tax revenue as % of GDP Economic policy Monetary policy Central bank Money supply Fiscal policy Spending Deficit Debt Trade policy Tariff Trade agreement Finance Financial market Financial market participants Corporate Personal Public Banking Regulation For other uses of this word, see tariff (disambiguation). ... Congress in Joint Session. ...

The goal of the tariff was to protect industry in the northern United States from competing European goods by increasing the prices of European products. The system of tariffs began after the War of 1812 and the Napoleonic Wars, when a recession in Europe led British manufacturers to offer goods in America at prices American manufacturers often could not match. For other uses, see Europe (disambiguation). ... A good in economics is any physical object (natural or man-made) or service that, upon consumption, increases utility, and therefore can be sold at a price in a market. ... This article is about the U.S. â€“ U.K. war. ... Combatants Austria[1] Portugal Prussia[1] Russia[2] Sicily Spain[3] Sweden United Kingdom[4] French Empire Holland Italy Naples [5] Duchy of Warsaw Bavaria[6] Saxony[7] Denmark-Norway [8] Commanders Archduke Charles Prince Schwarzenberg Karl Mack von Leiberich JoÃ£o Francisco de Saldanha Oliveira e Daun Gebhard von... In macroeconomics, the definition of recession is a decline in any countrys Gross Domestic Product (GDP), or negative real economic growth, for two or more successive quarters of a year. ...

The first protective tariff was passed by Congress in 1816, and was increased in 1824, followed in 1828 by the Tariff of Abominations, a name given by the state of South Carolina. President John Quincy Adams signed the tariff, although he realized it would be used to discredit him politically. In the Election of 1828, Andrew Jackson did indeed defeat Adams. John Quincy Adams (July 11, 1767 â€“ February 23, 1848) was a diplomat, politician, and the sixth President of the United States (March 4, 1825 â€“ March 4, 1829). ... Presidential electoral votes by state. ... For other uses, see Andrew Jackson (disambiguation). ...

South Carolinian John C. Calhoun strongly opposed the tariff. Faced with a reduced market for goods, the British reduced their imports of cotton, which hurt the South. The tariff forced the South to buy manufactured goods at a higher price and Southern states also faced a reduced income from sales of raw materials. This inspired Calhoun to attempt nullification of the tariff within South Carolina. He authored the South Carolina Exposition and Protest in response and would later participate in the Nullification Crisis in 1832. Official language(s) English Capital Columbia Largest city Columbia Largest metro area Columbia Area Ranked 40th - Total 34,726 sq mi (82,965 kmÂ²) - Width 200 miles (320 km) - Length 260 miles (420 km) - % water 6 - Latitude 32Â° 2â€² N to 35Â° 13â€² N - Longitude 78Â° 32â€² W to 83... John Caldwell Calhoun (March 18, 1782 â€“ March 31, 1850) was a leading United States Southern politician and political philosopher from South Carolina during the first half of the 19th century, at the center of the foreign policy and financial disputes of his age and best known as a spokesman for... The process of nullification may refer to: The Hartford Convention, in which New England Federalists considered secession from the United States of America. ... The South Carolina Exposition and Protest, also known as Calhouns Exposition , was written in 1828 by John C. Calhoun,in disguise under the pseudonym Mr. ... The Nullification Crisis was a sectional crisis during the presidency of Andrew Jackson that arose when the state of South Carolina attempted to nullify a federal law passed by the United States Congress. ...

References

Categories: United States federal legislation stubs | 1828 in law | United States federal taxation legislation | United States federal trade legislation | History of the United States (1789–1849) Patrick Joseph Buchanan (born November 2, 1938) is an American politician, author, syndicated columnist, and broadcaster. ... Taxation in the United States is a complex system which may involve payment to at least four different levels of government. ... The Internal Revenue Code (or IRC) (more formally, the Internal Revenue Code of 1986, as amended) is the main body of domestic statutory tax law of the United States organized topically, including laws covering the income tax (see Income tax in the United States), payroll taxes, gift taxes, estate taxes... The Revenue Act of 1861 proposed that there shall be levied, collected, and paid, upon annual income of every person residing in the U.S. whether derived from any kind of property, or from any professional trade, employment, or vocation carried on in the United States or elsewhere, or from... The Revenue Act of 1862 (July 1, 1862, Ch. ... The Internal Revenue Act of 1864 increased the income tax rates established by the Internal Revenue Act of 1862. ... Revenue Act of 1913 - Wikipedia /**/ @import /skins/monobook/IE50Fixes. ... The United States Revenue Act of 1916 raised the lowest income tax rate from 1 percent to 2 percent and raised the top rate to 15 percent on taxpayers with incomes above $2 million. ... The United States War Revenue Act of 1917 greatly increased federal income tax rates while simultaneously lowering exemptions. ... The Revenue Act of 1918 raised income tax rates once again. ... The United States Revenue Act of 1921 was the first Republican stab at tax reduction following their landslide victory in the 1920 federal elections. ... The United States Revenue Act of 1924 cut federal tax rates and established the U.S. Board of Tax Appeals, which was later renamed the Tax Court of the United States in 1942. ... The United States Revenue Act of 1926 reduced inheritance and personal income taxes, cancelled many excise imposts, and ended public access to federal income tax returns. ... The Revenue Act of 1928 (May 29, 1928, ch. ... The Revenue Act of 1932 raised United States tax rates across the board, with the rate on top incomes rising from 25 percent to 63 percent. ... The Revenue Act of 1935 raised United States taxes on higher income levels, corporations, and gifts and estates. ... The Revenue Act of 1936, 49 Stat. ... The Revenue Act of 1940 temporarily and permanently increased individual income tax rates, temporarily and permanently increased corporate tax rates (top rate rose from 19% to 22. ... The United States Second Revenue Act of 1940 created a corporate excess profits tax (top rate 50%) and increased corporate tax rates (top rate from 22. ... The Revenue Act of 1941 permanently extended the temporary individual, corporate, and excise tax increases of 1940, increased the excess profits tax by 10 percentage points (top rate rose from 50 to 60 percent), and increased corporate tax rates 6-7 percentage points (top rate increased from 24 percent to... The United States Revenue Act of 1942 increased individual income tax rates, increased corporate tax rates (top rate rose from 31 percent to 40 percent), and reduced the personal exemption amount from $1,500 to $1,200 (married couples). ... The United States Revenue Act of 1943 increased federal excise taxes on, among other things, alcohol, jewelry, telephones, and admissions, and raised the excess profits tax rate from 90 percent to 95 percent. ... The Current Tax Payment Act of 1943 introduced the concept of income tax withholding in the United States. ... The Individual Income Tax Act of 1944 raised individual income tax rates in the United States and repealed the 3 percent Victory Tax. ... The United States Revenue Act of 1945 repealed the excess profits tax, reduced individual income tax rates (the top rate fell from 94 percent to 86. ... The United States Revenue Act of 1948 reduced individual income tax rates 5-13 percent, increased the personal exemption amount from $500 to $600, permitted married couples to split their incomes for tax purposes, and provided additional exemption for taxpayers age 65 and older. ... The United States Revenue Act of 1950 eliminated a portion of the individual income tax rate reductions from the 1945 and 1948 tax acts, and increased the top corporate rate from 38 percent to 45 percent. ... The United States Excess Profits Tax of 1950 created a temporary excess profits tax of 30 percent up through June 30, 1953. ... The United States Revenue Act of 1951 temporarily increased individual income tax rates through 1953, and temporarily raised corporate tax rates 5 percentage points through March 31, 1954. ... The United States Excise Tax Reduction Act of 1954 actually temporarily extended the 1951 excise tax increases (through March 31, 1955), but also reduced excise tax rates on, among other things, telephones, admissions, and jewelry. ... The United States Internal Revenue Code of 1954 temporarily extended the 5 percentage point increase in corporate tax rates through March 31, 1955, increased depreciation deductions by providing additional depreciation schedules, and created a 4 percent dividend tax credit for individuals. ... The United States Revenue Act of 1962 established a 7 percent investment tax credit and required information reporting to the government for interest and dividend payments. ... The United States Revenue Act of 1964 reduced individual income tax rates (the top rate fell from 91 percent to 70 percent), and reduced the top corporate rate from 52 percent to 48 percent. ... The United States Revenue and Expenditure Control Act of 1968 created a temporary 10 percent income tax surcharge on both individuals and corporations through June 30, 1969. ... The United States Tax Reform Act of 1969 established individual and corporate minimum taxes, established a new tax schedule for single taxpayers, and lowered the maximum rate on earned income from 70 percent to 50 percent. ... The United States Revenue Act of 1971 reinstated the investment tax credit, repealed the 7 percent automobile excise tax, and increased the minimum standard deduction from $1,000 to $1,300. ... The United States Tax Reduction Act of 1975 provided a 10 percent rebate on 1974 tax liability ($200 cap) and created a temporary $30 general tax credit for each taxpayer and dependent. ... The Tax Reform Act of 1976 was passed by the United States Congress in September of 1976, and signed into law by President Gerald Ford on October 4, 1976, becoming public law 94-455. ... The Tax Reduction and Simplification Act of 1977 was passed by the 95th United States Congress and signed into law by President James Carter on May 23, 1977. ... The United States Revenue Act of 1978 reduced individual income taxes (widened tax brackets and reduced the number of tax rates), increased the personal exemption from $750 to $1,000, reduced corporate tax rates (the top rate falling from 48 percent to 46 percent), increased the standard deduction from $3... The Kemp-Roth Tax Cut (officially the Economic Recovery Tax Act, or ERTA) of 1981 reduced marginal income tax rates in the United States by approximately 25% over three years (the top rate falling to 50% from 70% while the bottom rate dropped to 11% from 14%) and indexed them... The United States Tax Equity and Fiscal Responsibility Act of 1982 rescinded some of the effects of the huge Kemp-Roth Tax Cut passed the year before. ... President Ronald Reagan signs the Tax Reform Act of 1986 on the South Lawn. ... The Internal Revenue Code of 1954 was enacted by the United States Congress as Chapter 736, Pub. ... The Omnibus Budget Reconciliation Act of 1990 (or OBRA-90) was designed to reduce the United States federal budget deficit. ... The Omnibus Budget Reconciliation Act of 1993 (or OBRA-93) was passed by the 103rd United States Congress and signed into law by President Bill Clinton. ... The Taxpayer Bill of Rights 2 (PL 104-168, 110 Stat. ... The Taxpayer Relief Act of 1997 reduced several federal taxes in the United States. ... The Internal Revenue Service Restructuring and Reform Act of 1998, Pub. ... The Taxpayer Bill of Rights III (PL 105-206, title III, 112 Stat. ... The Economic Growth and Tax Relief Reconciliation Act of 2001 was a sweeping piece of tax legislation in the United States. ... The Job Creation and Worker Assistance Act of 2002 increased carryback of net operating losses to 5 years (through September 2003), extended the exception under Subpart F for active financing income (through 2006), and created 30 percent expensing for certain capital asset purchases (through September 2004). ... The Jobs and Growth Tax Relief Reconciliation Act of 2003 was passed by the United States Congress on May 23, 2003 and signed by President Bush five days later. ... The Tax Increase Prevention and Reconciliation Act of 2005 (Public Law 109-222) was enacted on May 17, 2006. ... It has been suggested that Tariff in American history be merged into this article or section. ... The Hamilton Tariff of 1789 was one of the first bills established by the new United States government. ... This article or section does not cite its references or sources. ... The Dallas Tariff was a protective tariff, introduced in the United States in 1816, which was in force between 1816 and 1824 and formed the basis of the Compromise of 1833, ending the Nullification Crisis in which South Carolina had threatened secession from the United States. ... The Tariff of 1824, also known as the Sectional Tariff of 1824, was a protective tariff in the United States designed to foster Americas burgeoning industry in the face of cheaper British commodities, especially iron products, wool and cotton textiles, and agricultural goods. ... The Tariff of 1832 was a protectionist tariff in the United States. ... The Tariff of 1833 (also known as the Compromise Tariff of 1833, ch. ... The Tariff of 1842, or Black Tariff as it became known, was a protectionist tariff schedule adopted in the United States to reverse the effects of the Compromise Tariff of 1833. ... The 1846 Walker tariff was a United States Democratic Party-passed bill that reversed the high rates of tariffs imposed by the Whig-backed Black Tariff of 1842 under president John Tyler. ... The Tariff of 1857 was a major tax reduction in the United States, creating a mid-century lowpoint for tariffs. ... The Morrill Tariff of 1861 was a protective tariff bill passed by the U.S. Congress in early 1861. ... The McKinley Tariff of 1890 was what set the average ad valorem tariff rate for imports to the United States at 48. ... The Revenue Act or Wilson-Gorman tariff of 1894 slightly reduced the U.S. tariff rates from the numbers set in the 1890 McKinley tariff. ... The Dingley Act of 1897, introduced by U.S. Representative Nelson Dingley, Jr. ... The Payne-Aldrich Tariff Act of 1909, named for Representative Sereno E. Payne and Senator Nelson W. Aldrich, reduced the United States tariff rate to 37%. It was very effective. ... Revenue Act of 1913 - Wikipedia /**/ @import /skins/monobook/IE50Fixes. ... The Emergency Tariff of 1921 (ch. ... The Fordney-McCumber tariff of 1922 was a law in the United States that created a Tariff Commission to raise or lower rates by 50%. This was a post-World War I Republican defense against expected Europeans exports. ... Representative W.C. Hawley, and Senator Reed Smoot shake hands in agreement on new tariff bill The Hawley-Smoot Tariff (or Smoot-Hawley Tariff Act)[1] was signed into law on June 17, 1930, and raised U.S. tariffs on over 20,000 imported goods to record levels, and, in... The Reciprocal Trade Agreements Act - 1934 - Provided for the negotiation of tariff agreements with separate nations, particularly Latin American countries. ... The General Agreement on Tariffs and Trade (typically abbreviated GATT) was originally created by the Bretton Woods Conference as part of a larger plan for economic recovery after World War II. The GATTs main objective was the reduction of barriers to international trade. ... The Trade Expansion Act of 1962 authorized tariff cuts of 50% with the European Common Market. ... The Trade Act of 1974 (actually enacted January 3, 1975 as Pub. ... The Omnibus Foreign Trade and Competitiveness Act of 1988 is an act passed by the United States Congress and signed into law by President Ronald Reagan. ... The Free Trade Agreement (FTA) was a trade agreement reached by Canada and the United States in October of 1987. ... NAFTA redirects here. ... â€œWTOâ€ redirects here. ... The Section 201 steel tariff is a political issue in the United States regarding a tariff that President George W. Bush placed on imported steel on March 5, 2002 (took effect March 20). ...

References GA_googleFillSlot("encyclopedia_square");

References