9. Income tax brackets were not indexed until 2000. When inflation pushed up people's nominal incomes during

Question:

9. Income tax brackets were not indexed until 2000.

When inflation pushed up people's nominal incomes during the 1970s, what do you think happened to real tax revenue? (Hint: This phenomenon was known as "bracket creep.")

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Principles Of Macroeconomics

ISBN: 9780176591977

7th Canadian Edition

Authors: N. Mankiw, Ronald Kneebone, Kenneth McKenzie

Question Posted: