During the last 15 years, what has happened to the marginal tax rates imposed on high-income taxpayers and the personal income tax revenues collected from them?
A) Both the rates imposed and the revenues collected from the rich have increased.
B) Both the rates imposed and the revenues collected from the rich have declined.
C) The tax rates imposed on the rich have declined, but the revenues collected from them have increased.
D) The tax rates imposed on the rich have increased, but the revenues collected from them have declined.

Question

Quizplus · Accepted Answer

The marginal tax rates imposed on high-income taxpayers have declined over the last 15 years, primarily due to tax cuts implemented under the George W. Bush and Trump administrations. However, personal income tax revenues collected from the rich have increased over this period, likely due to factors such as the growth in income inequality and the overall growth of the economy.

During the Last 15 Years, What Has Happened to the Marginal