The Tax Cut of 2003 includes all of the following provisions EXCEPT
A. The child income tax credit was raised from $600 to $1,000.
B. The lowest minimum tax rate was lowered from 15 percent to 10 percent.
C. The highest income tax bracket was reduced from 38.6 percent to 35 percent.
D. The top personal income tax rate paid by stockholders on corporate dividends and on capital gains was lowered to 15 percent.
B. The lowest minimum tax rate was lowered from 15 percent to 10 percent.
You might also like to view...
A major purpose of tariffs is to
A) encourage imports. B) encourage exports. C) discourage imports. D) discourage exports.
Which of the following is NOT studied in microeconomics?
A) the effect of an increase in gasoline taxes on the purchase of gasoline B) the impact of an increase in the unemployment rate on economic production C) the impact of firms' collective hiring choices on the aggregate unemployment rate D) the impact of higher fuel prices on the cost of airline tickets
Why do most people choose to specialize in a narrow set of skills for their work, rather than to learn a little bit about several varied fields of endeavor?
A) They feel that doing so will minimize their chances of being unemployed. B) They don't correctly perceive the costs of being so specialized. C) It allows them to earn more income by being more productive. D) They are unaware of how much better off they would be if they diversified their skills.
Economic rents are useful because
A) they increase the income of the owner. B) they make it easy to calculate opportunity cost. C) resources will go to their most efficient use. D) they increase tax revenue.