On This Day: Dec. 30, 1969, President Richard Nixon Raised Taxes on the Rich, Cut Taxes for Most Americans

On This Day December 30:

Richard Milhous Nixon, 37th President of the U...
On This Day: Dec. 30, 1969, President Richard Nixon Raised Taxes on the Rich, Cut Taxes for Most Americans. (Photo credit: Wikipedia)

 1969: President Richard Nixon signed a sweeping tax reform legislation, raising them on the rich and cutting taxes for most Americans by five percent. The tax reform exempted nine million low-income citizens from paying any taxes at all and also sharply raised Social Security benefits.

More on This Day in history:

1958 Rebel guerrillas, led by Fidel Castro, were involved in heavy fighting around the town of Santa Clara, the capital of the province of Las Villas.  Two days later, Castro and his guerrillas had taken control and President Batista fled the country to the Dominican Republic.

1903 The Iroquois Theater Fire in Chicago, Illinois, claimed 602 lives, after being open for just over a month. This remains the worst single-building fire in U.S. history for the number of lives lost.

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