a domestic tax measure implemented by U.S. President John F. Kennedy in July 1963 and lasting until 1974; meant to make it less profitable for U.S. investors to invest abroad by taxing the purchase of foreign securities
Highlighted phrases
interest equalization tax
the "interest equalization tax" [...] imposed an export tariff on all US capital leavin the nation at a rate that equalized opportunities for financial profit at home and abroad
mentioned as one of the best-
known capital controls implemented in the US during the Long Boom
notable
7 years, 4 months ago