extracredit1(2)

8 the author says that when you consider all taxes

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Unformatted text preview: that 40% of all income taxes come from the wealthiest 1% of taxpayers, if you consider all taxes, the share paid by the wealthiest 1% falls to ________%. 8) The author says that when you consider all taxes, the share of taxes paid by the wealthiest 1% is roughly equal to the share of income they earn. Similarly, the share of all taxes paid by the poorest 20% (quintile) is roughly equal to their share of income. Given these points, why does the author say the U.S. “tax system does barely anything to redistribute income?” 9) Give an example of a “tax preference.” Who gets tax preferences? 10) The author asserts that the poor do not get much of total entitlement spending. How much do the elderly get? How much is spent on health care?...
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