During the last 20 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

Marginal tax rates on high-income taxpayers have generally decreased due to tax cuts, but overall revenues have increased due to economic growth and higher incomes.

During the Last 20 Years, What Has Happened to the Marginal