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The 1860s were a period of growing protectionism in the United States, while the European free trade phase lasted from 1860 to 1892. The tariff average rate on imports of manufactured goods in 1875 was from 40% to 50% in the United States, against 9% to 12% in continental Europe at the height of free trade. [44]
The term "income" is not defined in the Internal Revenue Code. The closest that Congress comes to defining income is found in the definition of "gross income" in Internal Revenue Code section 61, which is largely unchanged from its predecessor, the original Section 22(a) definition of income in the Revenue Act of 1913: Sec. 22(a).
Grant Cottage State Historic Site is an Adirondack mountain cottage on the slope of Mount McGregor in the town of Moreau, New York. Ulysses S. Grant, the 18th President of the United States, died of throat cancer at the cottage on July 23, 1885. The house was maintained as a shrine to U.S. Grant following his death by the Mount McGregor ...
Historical Statistics of the United States (Colonial Times to 1957) [4] Historical Statistics of the United States (Colonial Times to 1970) [5] Bicentennial Edition Historical Statistics of the United States, Colonial Times to 1970 [6] Historical Tables [7] U.S. imports for consumption, duties collected, and ratio of duties to value, 1891–2016;
Politicians accusing each other for taking the Salary Grab. The caption reads: That salary grab—"You took it".Frank Leslie's Illustrated Newspaper, 27 December 1873. The Salary Grab Act, officially known as the Legislative, Executive, and Judicial Expenses Appropriation Act, [1] was passed by the United States Congress on March 3, 1873, and sparked a firestorm of controversy among members of ...
The main assumption of the model is that the migration decision is based on expected income differentials between rural and urban areas rather than just wage differentials. This implies that rural-urban migration in a context of high urban unemployment can be economically rational if expected urban income exceeds expected rural income.
The wage–fund doctrine is a concept from early economic theory that seeks to show that the amount of money a worker earns in wages, paid to them from a fixed amount of funds available to employers each year , is determined by the relationship of wages and capital to any changes in population.
Kennedy reports that "U.S. national income, in absolute figures in per capita, was so far above everybody else's by 1914." Per capita income in the United States was $377 in 1914 compared to Britain in second place at $244, Germany at $184, France at $153, and Italy at $108, while Russia and Japan trailed far behind at $41 and $36.