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53-452: ACRS may refer to: Accelerated Cost Recovery System , a historical 1981 accounting practice that preceded the 1986 (&forward) "Modified Accelerated Cost Recovery System" ( MACRS ) Air Cushion Restraint System , an early airbag implementation by General Motors Area Coverage Rate (Sustained), a measurement of the effectiveness of Mine countermeasures Ancient Culture Research Society ,

106-666: A federal republic under the rule of law . Conservative philosophy also derives in part from the classical liberal tradition of the 17th, 18th, and 19th centuries, which advocated laissez-faire economics (i.e. economic freedom and deregulation ). Louis Hartz argues that socialism has failed to become established in the United States because of Americans' widespread acceptance of an enduring, underlying Lockean consensus. While historians such as Patrick Allitt (born 1956) and political theorists such as Russell Kirk (1918–1994) assert that conservative principles have played

159-432: A Conservative Party. They soon merged it into the state Democratic Parties. All of the major American political parties support republicanism and the basic classical liberal ideals on which the country was founded in 1776, emphasizing liberty, the rule of law, the consent of the governed , and that all men were created equal. Political divisions inside the United States often seemed minor or trivial to Europeans, where

212-612: A balance between federal government and states' rights . Apart from some right-libertarians , American conservatives tend to favor strong action in areas they believe to be within government's legitimate jurisdiction, particularly national defense and law enforcement while opposing government intervention in social issues such as healthcare and the environment . Social conservatives —many of them religious—often oppose abortion and same-sex marriage . They often favor prayer in public schools and government funding for private religious schools . Like most political ideologies in

265-657: A balanced budget. They argue that low taxes produce more jobs and wealth for everyone, and, as President Grover Cleveland said, "unnecessary taxation is unjust taxation". A recent movement against the inheritance tax labels such a tax as a " death tax ." Fiscal conservatives often argue that competition in the free market is more effective than the regulation of industry and is the most efficient way to promote economic growth . The Republican Party has taken widely varying views on protectionism and free trade throughout its history. Others, such as some libertarians and followers of Ludwig von Mises , believe all government intervention in

318-491: A major role in U.S. politics and culture since 1776, they also argue that an organized conservative movement with beliefs that differ from those of other American political parties did not emerge in the U.S. at least until the 1950s. The recent movement conservatism has its base in the Republican Party , which has adopted conservative policies since the 1950s; Southern Democrats also became important early figures in

371-460: A major tax cut during the Carter presidency , but President Jimmy Carter prevented the bill from passing out of concern about the deficit. Advocates of supply-side economics like Kemp and Reagan asserted that cutting taxes would ultimately lead to higher government revenue because of economic growth, a proposition that was challenged by many economists. Upon taking office, Reagan made the passage of

424-705: A majority in the US House of Representatives during the 97th Congress, but Reagan convinced conservative Democrats like Phil Gramm to support the bill. The Act passed the US Congress on August 4, 1981, and it was signed into law by Reagan on August 13, 1981. It was one of the largest tax cuts in US history, and ERTA and the Tax Reform Act of 1986 are known together as the Reagan tax cuts . Along with spending cuts, Reagan's tax cuts were

477-600: A monarchy, an established church, or a hereditary aristocracy. American conservatism is best characterized as a reaction against utopian ideas of progress and European political philosophy from before the end of World War II . Russell Kirk saw the American Revolution itself as "a conservative reaction, in the English political tradition, against royal innovation". In the 2022 book The Right: The Hundred-Year War for American Conservatism , Matthew Continetti noted that

530-749: A more militaristic , interventionist foreign policy aimed at promoting democracy abroad, which stands in stark contrast to Paleoconservatisms more isolationist foreign policy. Neoconservatives often name communism and Islamism as the biggest threats to the free world. They often oppose the United Nations for interfering with American unilateralism. National conservatism focuses on upholding national and cultural identity . National conservatives strongly identify with American nationalism , patriotism , and American exceptionalism , while opposing internationalism , globalism , and multiculturalism . The movement seeks to promote national interests through

583-772: A non-profit organisation focusing on archaeological research Advisory Committee on Reactor Safeguards , part of the Nuclear Regulatory Commission Arms Control and Regional Security in the Middle East , a working group formed as a result of the Madrid Conference of 1991 Asian Conference on Remote Sensing , a yearly event spearheaded by the Asian Association of Remote Sensing (AARS) , Asia's largest society of remote sensing scientists and professionals Astrographic Catalog Reference Stars ,

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636-614: A smaller government is known as starve the beast . Activist Grover Norquist is a well-known proponent of the strategy and has famously said, "My goal is to cut government in half in twenty-five years, to get it down to the size where we can drown it in the bathtub." The argument in favor of balanced budgets is often coupled with a belief that government welfare programs should be narrowly tailored and that tax rates should be low, which implies relatively small government institutions. Neoconservatism emphasizes foreign policy over domestic policy. Its supporters, mainly war hawks , advocate

689-645: A star catalog published by the U. S. Naval Observatory Australian Camellia Research Society , a society with a register of Camellia's bred in Australia Topics referred to by the same term [REDACTED] This disambiguation page lists articles associated with the title ACRS . If an internal link led you here, you may wish to change the link to point directly to the intended article. Retrieved from " https://en.wikipedia.org/w/index.php?title=ACRS&oldid=1219865124 " Category : Disambiguation pages Hidden categories: Short description

742-446: A steady flow of "prescription and prejudice". Kirk's use of the word "prejudice" here is not intended to carry its contemporary pejorative connotation: a conservative himself, he believed that the inherited wisdom of the ages may be a better guide than apparently rational individual judgment. Through much of the 20th century, a primary force uniting the varied strands of conservatism, and uniting conservatives with liberals and socialists,

795-406: A strong national defense , gun rights , capital punishment , and a defense of Western culture from perceived threats posed by communism , Islamism and moral relativism . American conservatives may question epidemiology , climate change , and evolution more frequently than moderates or liberals . In the United States, " conservative " is often used very differently from the way it

848-534: A study of human experience. On this point we are, without reservations, on the conservative side. According to Peter Viereck , American conservatism is distinctive because it was not tied to a monarchy, landed aristocracy, established church, or military elite. Instead American conservatives were firmly rooted in American republicanism , which European conservatives opposed. They are committed, says Seymour Martin Lipset , to

901-536: Is a form of democratized Whig constitutionalism plus the free market . The point of difference comes with the influence of social liberalism ". American conservatives tend to support Christian values , moral absolutism , and American exceptionalism , while opposing abortion , euthanasia , and some LGBT rights (depending on the politicians). They tend to favor economic liberalism , and are generally pro- business and pro- capitalism , while opposing communism and labor unions . They often advocate for

954-419: Is a large and mainstream ideology in the Republican Party and nation. As of 2021, 36 percent of Americans consider themselves conservative, according to polling by Gallup, Inc. Conservatism in the United States is not a single school of thought. According to American philosopher Ian Adams, all major American parties are " liberal and always have been. Essentially they espouse classical liberalism , that

1007-484: Is different from Wikidata All article disambiguation pages All disambiguation pages Accelerated Cost Recovery System Representative Jack Kemp and Senator William Roth , both Republicans , had nearly won passage of a tax cut during the Carter presidency , but President Jimmy Carter feared an increase in the deficit and so prevented the bill's passage. Reagan made a major tax cut his top priority once he had taken office. The Democrats maintained

1060-524: Is used in Europe. Following the American Revolution , Americans rejected the then core ideals of European conservatism, which were based on landed nobility , hereditary monarchy , established churches , and powerful armies. Conservatives in the United States historically view individual liberty within the bounds of conservative values as the fundamental trait of democracy . They typically believe in

1113-648: The Hundred Days of Franklin Roosevelt ." The Accelerated Cost Recovery System (ACRS) was a major component of the Act and was amended in 1986 to become the Modified Accelerated Cost Recovery System . The system changed how depreciation deductions are allowed for tax purposes. The assets were placed into categories: 3, 5, 10, or 15 years of life. Reducing the tax liability would put more cash into

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1166-570: The Tax Equity and Fiscal Responsibility Act of 1982 (TEFRA), which is sometimes called the largest tax increase of the postwar period . The Office of Tax Analysis of the United States Department of the Treasury summarized the tax changes as follows: The accelerated depreciation changes were repealed by the Tax Equity and Fiscal Responsibility Act of 1982 , and the 15% interest exclusion

1219-452: The nuclear family . There are two overlapping subgroups of social conservatives: the traditional and the religious. Traditional conservatives strongly support traditional codes of conduct, especially those they feel are threatened by social change and modernization. Religious conservatives focus on conducting society based on the morals prescribed by fundamentalist religious authorities, rejecting secularism and moral relativism . In

1272-419: The 1980s economic expansion that eventually lowered the deficits. After peaking in 1986 at $ 221 billion the deficit fell to $ 152 billion by 1989. The Office of Tax Analysis estimated that the act lowered federal income tax revenue by 13% from what it would have been in the bill's absence. Canada, which had adopted the indexing of income tax in the early 1970s, saw deficits at similar and even larger levels to

1325-680: The 1980s preached traditional moral and religious social values. The history of American conservatism has been marked by tensions and competing ideologies. During the era of Ronald Reagan , a coalition of ideologies was formed that was known as "the Three Leg Stool " — the three legs being social conservatives (consisting of the Christian right and paleo-conservatives ), war hawks (consisting of interventionists and neoconservatives ), and fiscal conservatives (consisting of right-libertarians and free-market capitalists ), with overlap between

1378-643: The American conservative movement has been fractured for a century. Political conservatives have emphasized an identification with the Founding Fathers of the United States and the U.S. Constitution . Scholars of conservative political thought "generally label John Adams as the intellectual father of American conservatism". Russell Kirk points to Adams as the key Founding Father for conservatives, saying that "some writers regard him as America's most important conservative public man". In 1955, Clinton Rossiter ,

1431-484: The Southern " Bible Belt " and in recent years played a major role in the political coalitions of George W. Bush and Donald Trump . Fiscal conservatism has ideological roots in capitalism , limited government , free enterprise , and laissez-faire economics. Fiscal conservatives typically support tax cuts , reduced government spending , free markets , deregulation , privatization , minimal government debt , and

1484-468: The United States is based on a belief in individualism , traditionalism , republicanism , and limited federal governmental power in relation to U.S. states . Conservatism is one of two major political ideologies of the United States with the other being liberalism . Conservative and Christian media organizations and American conservative figures are influential, and American conservatism

1537-469: The United States , conservatism originates from republicanism , which rejects aristocratic and monarchical government and upholds the principles of the 1776 U.S. Declaration of Independence ("that all men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are Life, Liberty and the Pursuit of Happiness") and of the U.S. Constitution , which established

1590-470: The United States in the late 1970s and the early 1980s. The non-partisan Congressional Research Service (in the Library of Congress ) issued a report in 2012 analyzing the effects of tax rates from 1945 to 2010. It concluded that top tax rates have no positive effect on economic growth, saving, investment, or productivity growth. However, the reduced top tax rates increase income inequality: Tax revenue from

1643-491: The United States, this translates into hard-line stances on moral issues, such as opposition to abortion , LGBT rights , feminism , pornography , comprehensive sex education , and recreational drug use . Religious conservatives often assert that America is a Christian nation , calling for laws that enforce Christian morality . They often support school prayer , vouchers for parochial schools , and restricting or outlawing abortion . Social conservatives are strongest in

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1696-475: The act claim that it worsened federal budget deficits, but supporters credit it for bolstering the economy during the 1980s. Supply-siders argued that the tax cuts would increase tax revenues. However, tax revenues declined relative to a baseline without the cuts because of the tax cuts, and the fiscal deficit ballooned during the Reagan presidency . Much of the 1981 Act was reversed in September 1982 by

1749-735: The belief in America's "superiority against the cold reactionary monarchical and more rigidly status-bound system of European society". In terms of governmental economic policies, American conservatives have been heavily influenced by the classical liberal or libertarian tradition as expressed by Friedrich Hayek and Milton Friedman , and a major source of influence has been the Chicago school of economics . They have been strongly opposed to Keynesian economics . Traditional ( Burkean ) conservatives tend to be anti-ideological, and some would even say anti-philosophical, promoting, as Russell Kirk explained,

1802-594: The bill his top domestic priority. As Democrats controlled the House of Representatives, the passage of any bill would require the support of some House Democrats in addition to that of Republicans. Reagan's victory in the 1980 presidential campaign had united Republicans around his leadership, and conservative Democrats like Phil Gramm of Texas (who would later switch parties ) were eager to back some of Reagan's conservative policies. Throughout 1981, Reagan frequently met with members of Congress and focused especially on winning

1855-457: The centerpiece of what some contemporaries described as the conservative " Reagan Revolution ." Included in the act was an across-the-board decrease in the rates of federal income tax . The highest marginal tax rate fell from 70% to 50%, the lowest marginal rate from 14% to 11%. To prevent future bracket creep , the new tax rates were indexed for inflation . Also reduced were estate taxes , capital gains taxes, and corporate taxes. Critics of

1908-551: The credit for earned income was 20%. The amount for a married taxpayer to file a joint return increased under the Economic Recovery Tax Act to $ 125,000 from the $ 100,000 allowed under the 1976 Act. A single person was limited to an exclusion of $ 62,500. Also increased was the one-time exclusion of gain realized on the sale of a principal residence by someone aged at least 55. Representative Jack Kemp and Senator William Roth , both Republicans, had nearly won passage of

1961-691: The divide between the left and the right led to violent polarization, starting with the French Revolution . In 2009, Emory University history professor Patrick Allitt wrote that attitude, not policy, are at the core of differences between liberals and conservatives: Certain continuities can be traced through American history. The conservative 'attitude' ... was one of trusting to the past, to long-established patterns of thought and conduct, and of assuming that novelties were more likely to be dangerous than advantageous. No American party has ever advocated traditional European ideals of "conservatism" such as

2014-416: The economy is wasteful, corrupt, and immoral. Fiscal conservatism advocates restraint of progressive taxation and expenditure. Fiscal conservatives since the 19th century have argued that debt is a device to corrupt politics; they argue that big spending ruins the morals of the people, and that a national debt creates a dangerous class of speculators. A political strategy employed by conservatives to achieve

2067-493: The era, we are, without reservations, on the libertarian side. The profound crisis of our era is, in essence, the conflict between the Social Engineers, who seek to adjust mankind to scientific utopias, and the disciples of Truth, who defend the organic moral order. We believe that truth is neither arrived at nor illuminated by monitoring election results, binding though these are for other purposes, but by other means, including

2120-746: The indexing of individual income tax rates. When Reagan left office, the national debt had tripled to around $ 2.6 trillion. The sociologist Monica Prasad contends that these kinds of tax cuts became popular among Republican candidates because the cuts were well received by voters and could help candidates get elected. Conservatism in the United States Defunct Newspapers Journals TV channels Websites Other Economics Gun rights Identity politics Nativist Religion Watchdog groups Youth/student groups Miscellaneous Other [REDACTED] [REDACTED] Conservatism in

2173-476: The movement's history. In 1937, Southern Democrats formed the congressional conservative coalition , which played an influential role in Congress from the late 1930s to the mid-1960s. In recent decades, Southern conservatives voted heavily Republican. Conservatism in the United States is not a single school of thought. Barry Goldwater in the 1960s spoke for a " free enterprise " conservatism. Jerry Falwell in

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2226-431: The need for future tax cuts to address it. The first 5% of the 25% total cuts took place beginning on October 1, 1981. An additional 10% began on July 1, 1982, followed by a third decrease of 10% starting July 1, 1983. As a result of that and other tax acts in the 1980s, the top 10% were paying 57.2% of total income taxes by 1988, up from 48% in 1981, but the bottom 50% of earners' share dropped from 7.5% to 5.7% during

2279-491: The nine federal tax laws between 1968 and 1981 were tax cuts compensating for inflation-driven bracket creep . Inflation was particularly high in the five years preceding the Act, and bracket creep alone caused federal individual income tax receipts to increase from 7.94% to over 10% of the GDP. Even after the Act was passed, federal individual income tax receipts never fell below 8.05% of the GDP. Combined with indexing, that eliminated

2332-441: The pockets of business owners to promote investment and economic growth. For example, the agriculture industry saw a re-evaluation of their farming assets. Items such as automobiles and swine were given 3-year depreciation values, and things like buildings and land had a 15-year depreciation value. The most lasting impact and significant change of the Act was indexing the tax code parameters for inflation starting in 1985. Six of

2385-516: The preservation of traditional cultural values , restrictions on illegal immigration , and strict law and order policies. In the United States, there has never been a national political party called the Conservative Party. Since 1962, there has been a small Conservative Party of New York State . During Reconstruction in several states in the South in the late 1860s, the former Whigs formed

2438-462: The return of high-interest rates, and the ballooning deficits had convinced Congress that the Act had failed to create the results for which the Reagan administration had hoped. Largely at the initiative of Senate Finance Committee chairman Robert Dole , most of the personal tax cuts were reversed in September 1982 by the Tax Equity and Fiscal Responsibility Act of 1982 (TEFRA) but, most significantly, not

2491-441: The same period. The total share borne by middle incomes of the 50th to 95th percentiles decreased from 57.5% to the 48.7% between 1981 and 1988. Much of the increase can be attributed to the decrease in capital gains taxes. Also, the ongoing recession and high unemployment contributed to stagnation among other income groups until the mid-1980s. Under ERTA, marginal tax rates dropped (top rates from 70% to 50%)and capital gains tax

2544-614: The sides . In the 21st century United States, types of conservatism include: In February 1955, in the first issue of National Review , William F. Buckley Jr. explained the standards of his magazine and articulate the beliefs of American conservatives: Among our convictions: It is the job of centralized government (in peacetime) to protect its citizens' lives, liberty and property. All other activities of government tend to diminish freedom and hamper progress. The growth of government (the dominant social feature of this century) must be fought relentlessly. In this great social conflict of

2597-509: The support from conservative Southern Democrats. In July 1981, the Senate voted 89–11 for the tax cut bill favored by Reagan, and the House approved the bill in a 238–195 vote. Reagan's success in passing a major tax bill and cutting the federal budget was hailed as the " Reagan Revolution " by some reporters. One columnist wrote that Reagan's legislative success represented the "most formidable domestic initiative any president has driven through since

2650-414: The wealthy dropped, and much of the increased wealth collected was at the top of the tax bracket. Reagan came into office with a national debt of around $ 900 billion, high unemployment rates, and public distrust in government. The Act was designed to give tax breaks to all citizens in hopes of jumpstarting the economy and creating more wealth in the country. By the summer of 1982, the double-dip recession,

2703-675: Was opposition to communism, which was seen not only as an enemy of the traditional order but also the enemy of Western freedom and democracy. Between 1945 and 1947, it was the Labour government in the United Kingdom, which embraced socialism, that pushed the Truman administration to take a strong stand against Soviet Communism . Social conservatism in the United States is the defense of traditional family values rooted in Judeo-Christian ethics and

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2756-411: Was reduced from 28% to 20%. Revenue from capital gains tax increased 50% from $ 12.5 billion in 1980 to over $ 18 billion in 1983. In 1986, revenue from the capital gains tax rose to over $ 80 billion; after the restoration of the rate to 28% from 20% from 1987, capital gains revenues declined until 1991. Critics claim that the tax cuts worsened budget deficits. Reagan's supporters credit them with helping

2809-473: Was repealed before it could take effect by the Deficit Reduction Act of 1984 . The maximum expense in calculating credit was increased from $ 2000 to $ 2400 for one child and from $ 4000 to $ 4800 for at least two children. The credit increased from 20% or a maximum of $ 400 or $ 800 to 30% of $ 10,000 income or less. The 30% credit is diminished by 1% for every $ 2,000 of earned income up to $ 28,000. At $ 28,000,

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