During 1960-1980, Those with the Highest Incomes Confronted Federal Marginal

question 83

Multiple Choice

During 1960-1980, those with the highest incomes confronted federal marginal tax rates between 70 and 90 percent. Since 1986, the highest federal income tax rate has been less than 40 percent. Since 1986, the share of the personal income tax collected from the top one-half of one percent of earners has been

• A) substantially lower than during the 1960s and 1970s.
• B) only slightly lower than during the 1960s and 1970s.
• C) virtually the same as during the 1960s and 1970s.
• D) higher than during the 1960s and 1970s.

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Present Value

A financial concept that discounts future cash flows to their value today, considering the time value of money to assess investment potential.

Resource's Current Price

The present market price of a particular resource or commodity, reflecting its current demand and supply.

Extraction

The process of removing or obtaining a resource, material, or substance from its source or origin.

User Cost

The opportunity cost of using a durable good or natural resource, representing the foregone benefits from not preserving the asset for future use.