Compared with the situation prior to 1981, the marginal tax rates imposed on individuals and families with
Question:
Compared with the situation prior to 1981, the marginal tax rates imposed on individuals and families with high incomes are now lower. What was the top marginal personal income tax rate in 1980? What is the top rate now? Are you in favor of or opposed to the lower marginal rates? Why?
*5. As the result of changes during the last two decades, the bottom half of income recipients now pay little or no personal income tax. Rather than paying taxes, many of them now receive payments back from the IRS as the result of the Earned Income Tax Credit and Child Tax Credit programs.
Do you think the increase in the number of people who pay no taxes will affect the efficiency of the political process? Why or why not?
Step by Step Answer:
Macroeconomics Private And Public Choice
ISBN: 9780538754286
13th Edition
Authors: James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson