Over the past three decades, the level of federal payroll tax has ________, and the level of federal corporate taxes has ________.

Question

Quizplus · Accepted Answer

The level of federal payroll tax has risen over the past three decades, with the current rate at 6.2% for Social Security and 1.45% for Medicare. On the other hand, the level of federal corporate taxes has fallen over the past three decades, with the rate dropping from 35% in 1993 to 21% in 2018.

Over the Past Three Decades, the Level of Federal Payroll