According to the textbook (based upon 2014 data),if the bottom half of all U.S.income tax payers were allowed to stop paying the income tax entirely and the top 50% continued to pay as they do now,tax revenues to the government would drop by about
A) 2.75 percent.
B) 15.7 percent.
C) 23.9 percent.
D) 33.3 percent.
E) 50.8 percent

Question

Quizplus · Accepted Answer

The correct answer is based on the distribution of income tax contributions across different income groups in the U.S. According to 2014 data, the bottom half of all U.S. income taxpayers contribute a relatively small portion of the total income tax revenue, which is why eliminating their tax contributions would only reduce total tax revenues by about 2.75 percent.

According to the Textbook (Based Upon 2014 Data),if the Bottom