What percentage of total income did the top 10 percent of income earners earn in 2014? What percentage of federal income taxes did this group pay in 2014? | bartleby

Macroeconomics

13th Edition

Roger A. Arnold

Publisher: Cengage Learning

ISBN: 9781337617390

Chapter 11, Problem 4QP

Textbook Problem

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What percentage of total income did the top 10 percent of income earners earn in 2014? What percentage of federal income taxes did this group pay in 2014?

To determine

Identify the percentage of total income and total taxes paid by the top 10% of income earners in 2014.

Explanation of Solution

During the period of 2014, the top 10% of income earners paid 70.88% of all the inco...

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Chapter 11 Solutions

Macroeconomics

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Ch. 11.1 - Explain the differences among progressive,...Ch. 11.1 - What percentage of all income taxes was paid by...Ch. 11.1 - What four taxes account for the bulk of federal...Ch. 11.1 - Explain the cyclical budget deficit.Ch. 11.3 - How does crowding out create questions about the...Ch. 11.3 - How might lags reduce the effectiveness of fiscal...Ch. 11.3 - Give an example of an indirect effect of crowding...Ch. 11.4 - Give an arithmetic example to illustrate the...Ch. 11.4 - If income tax rates rise, will income tax revenues...Ch. 11 - What is the difference between government...

Ch. 11 - How much were government expenditures in 2016? How...Ch. 11 - The bulk of federal government expenditures go for...Ch. 11 - What percentage of total income did the top 10...Ch. 11 - Is it true that, under a proportional income tax...Ch. 11 - A progressive income tax always raises more...Ch. 11 - Jim favors progressive taxation and equal...Ch. 11 - What is the difference between a structural...Ch. 11 - What is the difference between discretionary...Ch. 11 - According to Buchanan and Wagner, why is there a...Ch. 11 - Explain two ways crowding out may occur.Ch. 11 - Why is crowding out an important issue in the...Ch. 11 - Some economists argue for the use of fiscal policy...Ch. 11 - Give a numerical example to illustrate the...Ch. 11 - The debate over using government spending and...Ch. 11 - Is crowding out equally likely under all economic...Ch. 11 - Tax cuts will likely affect aggregate demand and...Ch. 11 - Explain how, under certain conditions,...Ch. 11 - Identify and explain the five lags associated with...Ch. 11 - Suppose the economy is in a recessionary gap, and...Ch. 11 - Will tax cuts that the public perceives to be...Ch. 11 - What is the difference between a marginal tax rate...Ch. 11 - Will tax revenue necessarily rise if tax rates are...Ch. 11 - Georgia Dickens is sitting with a friend at a...Ch. 11 - Use the following table to answer questions 14: 1....Ch. 11 - Use the following table to answer questions 14: 2....Ch. 11 - Use the following table to answer questions 1-4:...Ch. 11 - Use the following table to answer questions 14: 4....Ch. 11 - A hypothetical society has three income earners,...Ch. 11 - Show graphically how fiscal policy works in the...Ch. 11 - Illustrate graphically how government can use...Ch. 11 - Illustrate the following graphically: a. Fiscal...

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