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.

Question

Quizplus · Accepted Answer

Since 1986, despite lower marginal tax rates, the share of personal income tax collected from the top earners has increased due to rising income inequality and the concentration of income among the wealthiest individuals.

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