50 years study of tax cuts
What concept pushed by Republican lawmakers to justify slashing taxes on the wealthy has only benefited the rich and worsened economic inequality while failing to decrease unemployment or grow the economy?
“trickle-down” economics
How many no-income-tax states are there already?
9
The percentage of the top 1% of the wealthiest households that are black
(either 1%, 3%, 4% or 5%)
What is 4%?
What does the IRS stand for?
Internal Revenue Service
“Trickle down economics” policies were popularized by which American president?
Ronald Reagan
Which tax bracket is eliminated by Mississippi’s new tax plan?
The 3% tax bracket
The highest tax rate on capital gains in the US
either (12.7% 21.4% 23.8% 37.5%)
What is 23.8%
The top 0.5 percent of highest-earning Americans account for how much of income is hidden from the IRS?
A fifth or more than $50 billion
According to the authors of the study, each major tax cut leads to a rise in the top 1% share of pre-tax national income of how many percentage points?
0.8%
What is the benefit of cutting state income taxes?
Relief to individuals/families, increase employers’ job-creating capacity
Out of the Netherlands, Greece, Luxembourg and Mexico,
The country with a lower percentage of Tax revenue as a share of GDP than the US.
What is Mexico
What was Donald Trump’s proposal related to the IRS?
Increase IRS enforcement budget by $15 billion