Categories
Economics

[Solution] Tax Cuts and Jobs Act

There has been a discussion about whether the Tax Cuts and Jobs Act that took effect in 2018 will increase tax revenue. Tax revenue can be thought of an as average tax rate multiplied by taxable income. If the average tax rate falls while taxable income stays the same, tax revenue will fall. But what if the tax cuts increase taxable income? Both of the major schools of thought in macroeconomics (Keynesians and Neoclassicals) believe that tax cuts increase economic growth. Economic growth increases taxable income. Our recent economic growth has brought unemployment down to historically low levels. Think about this. Reply to these questions to begin your discussion: Do you think that the tax cuts of the Tax Cuts and Jobs Act will increase economic growth and taxable income so much that tax revenue will increase? Or do you think that the tax cuts will reduce tax revenue? Explain your answers.4 SENTENCES ONLY

There has been a discussion about whether the Tax Cuts and Jobs Act that took effect in 2018 will increase tax revenue. Tax revenue can be thought of an as average tax rate multiplied by taxable income. If the average tax rate falls while taxable income stays the same, tax revenue will fall. But what if the tax cuts increase taxable income? Both of the major schools of thought in macroeconomics (Keynesians and Neoclassicals) believe that tax cuts increase economic growth. Economic growth increases taxable income. Our recent economic growth has brought unemployment down to historically low levels. Think about this. Reply to these questions to begin your discussion: Do you think that the tax cuts of the Tax Cuts and Jobs Act will increase economic growth and taxable income so much that tax revenue will increase? Or do you think that the tax cuts will reduce tax revenue? Explain your answers.4 SENTENCES ONLY

 

So much stress and so little time? Take care of yourself: let us help you with your task on
[Solution] Tax Cuts and Jobs Act
Celebrate our anniversary with us. Get the Solution at $10/page
Get Help

 

 

So much stress and so little time? We’ve got you covered. Get your paper proofread, edited or written from scratch within the tight deadline.

Unlock Better Papers
Pages (550 words)
Approximate price: -