Select the correct one : Q-1) President Biden wants to increase the estate tax (the tax on wealth when a person dies) from 23.8% to 43.4%. a) The increase would lead to greater tax revenue and will help poor people gain access to more social welfare benefits with no unintended consequences. b) The increase would lead to no change in revenue over time but less income inequality stemming from a fairer tax code. c) The higher tax would reduce the problem of scarcity for all working poor people. d) The increase would be an economically inferior solution to reducing income inequality. In fact, lower taxes – even on the rich - tends to help the poor more. e) B and D only.
Select the correct one : Q-1) President Biden wants to increase the estate tax (the tax on wealth when a person dies) from 23.8% to 43.4%. a) The increase would lead to greater tax revenue and will help poor people gain access to more social welfare benefits with no unintended consequences. b) The increase would lead to no change in revenue over time but less income inequality stemming from a fairer tax code. c) The higher tax would reduce the problem of scarcity for all working poor people. d) The increase would be an economically inferior solution to reducing income inequality. In fact, lower taxes – even on the rich - tends to help the poor more. e) B and D only.
Chapter12: Medicare
Section: Chapter Questions
Problem 2QAP
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Select the correct one :
Q-1) President Biden wants to increase the estate tax (the tax on wealth when a person dies) from 23.8% to 43.4%.
a) The increase would lead to greater tax revenue and will help poor people gain access to more social welfare benefits with no unintended consequences.
b) The increase would lead to no change in revenue over time but less income inequality stemming from a fairer tax code.
c) The higher tax would reduce the problem of scarcity for all working poor people.
d) The increase would be an economically inferior solution to reducing income inequality. In fact, lower taxes – even on the rich - tends to help the poor more.
e) B and D only.
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