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Ronald Reagan signs a historic package of tax cuts

The Economic Recovery Tax Act of 1981 was a federal law enacted in the United States. It was an act "to amend the Internal Revenue Code of 1954 to encourage economic growth through reductions in individual income tax rates, the expensing of depreciable property, incentives for small businesses, and incentives for savings, and for other purposes"

China announces Cultural Revolution

The Cultural Revolution was a sociopolitical movement in China from 1966 until 1976. Launched by Mao Zedong, then Chairman of the Communist Party of China, its stated goal was to preserve 'true' Communist ideology in the country by purging remnants of capitalist and traditional elements from Chinese society.

Construction of the Berlin Wall begins

The Berlin Wall was a guarded concrete barrier that physically and ideologically divided Berlin from 1961 to 1989. Constructed by the German Democratic Republic, the Wall cut off West Berlin from virtually all of surrounding East Germany and East Berlin until government officials opened it in November 1989.

The 15th President of Cuba Fidel Castro is born

Fidel Alejandro Castro Ruz was a Cuban communist revolutionary and politician who governed the Republic of Cuba as Prime Minister and then as President. Under his administration, Cuba became a one-party communist state, while industry and business were nationalized and state socialist reforms were implemented throughout society.

Bayerische Motoren Werke AG is established

BMW is a German multinational company which currently produces luxury automobiles and motorcycles, and also produced aircraft engines until 1945. The company was founded in 1916 and has its headquarters in Munich, Bavaria. BMW produces motor vehicles in Germany, Brazil, China, India, South Africa, the United Kingdom, and the United States.

First production of stainless steel in UK

It is reported that the first true stainless steel, a 0.24wt% C, 12.8wt% Cr ferrous alloy, was produced by Brearley in an electric furnace. He was subsequently awarded the Iron and Steel Institute's Bessemer Gold Medal in 1920. The American Society for Metals gives the date for Brearley's creation of casting number 1008.

Fiat founder Giovanni Agnelli is born

Giovanni Agnelli was an Italian entrepreneur, who founded Fiat car manufacturing. The first Ford factory was opened four years after Fiat was founded and already in 1906 a first Fiat car dealer in US was established, in Manhattan, Broadway.

Spain conquests the Aztec empire

The Spanish–Aztec War was the conquest of the Aztec Empire by the Spanish Empire within the context of the Spanish colonization of the Americas. It was one of the most significant and complex events in world history. There are multiple 16th-century narratives of the events by Spanish conquerors, their indigenous allies and the defeated Aztecs.

Anniversaries of famous