Hungerford's Taxes and the Economy
More Taxes and the Economy
Red Ink
100
This category makes up a larger share of total income compared to earnings now.
What are capital gains and dividends?
100
Statutory tax rates affecting these taxpayers are at their lowest since WWII.
Who are top income taxpayers?
100
One of the hard truths from "Red Ink" is that the federal tax burden on the middle class has actually gone in this direction.
What is downward?
200
These types of rates are determined in legislation by Congress and signed by the President.
What are statutory tax rates?
200
This is the top capital gains tax rate, which is substantially lower than the top income tax rate (35%).
What is 15%?
200
In 1960, federal spending on health care was 9.5%. Today, this amount is the percent of the current federal budget spent on health care.
What is 25%?
300
This rule, named after an American billionaire, argues that tax rates on the rich are too low.
What is the Buffett Rule?
300
The paper "An Economic Analysis of the Top Statutory Tax Rates Since 1945" shows that reducing the top tax rate is correlated with increasing concentration of income at this end of the income distribution spectrum.
What is the top end of the income spectrum?
300
This military expense equated to 750,000 joint replacements.
What is 1 aircraft carrier?
400
Hungerford's analysis shows NO correlation between reducing top statutory tax rates and these economic measures. (Name just one of the measures.)
What are savings, investment, and productivity growth?
400
He was the first Secretary of State and “Father of the Federal Debt.”
What is Alexander Hamilton?
400
In the video, Paul Solman stated that this percentage of the federal budget was spent without a Congressional vote.
What is 63% of the federal budget?
500
President Obama’s 2010 Fiscal Commission recommended reducing the budget deficit and tax rates by using this strategy.
What is broadening the tax base?
500
Advocates of higher income taxes believe they are necessary for all of the following reasons, EXCEPT which of the following? A. Fostering economic growth B. Debt reduction C. Moderating increasing income inequality D. Tax rates on high-income taxpayers are too low
What is A. Fostering economic growth?
500
In 2011, the U.S. spent $700 billion on the military. That's more than the next __ countries combined.
What is 17?
M
e
n
u