Are federal taxes progressive? Q.Are federal taxes progressive? A.Overall, yes. But that’s not the case for each tax. Read more about Are federal taxes progressive?
What did the 2008–10 tax stimulus acts do? Q.What did the 2008–10 tax stimulus acts do? A.The 2008 and 2009 tax acts provided large temporary tax cuts to most households, with the goal of helping the economy recover from the Great Recession. The 2010 tax act extended specific provisions of the 2009 act through 2012, along with most of the 2001 and 2003 income tax cuts. It also replaced the Making Work Pay credit with a 2 percentage point reduction in the 2011 payroll tax rate for workers. Read more about What did the 2008–10 tax stimulus acts do?
What options would increase federal revenues? Q.What options would increase federal revenues? A.Policymakers can directly increase revenues by increasing tax rates, reducing tax breaks, expanding the tax base, improving enforcement, and levying new taxes. They can indirectly increase revenues through policies that increase economic activity, income, and wealth. Read more about What options would increase federal revenues?
