Examine the graph of GDP growth where in the graph for the US government be most likely to raise taxes where did most likely to decrease taxes explain your responses by describing what the government hopes to achieve with their fiscal action

Question

Emelia Burgess

Social Studies

7 January, 16:51

Examine the graph of GDP growth where in the graph for the US government be most likely to raise taxes where did most likely to decrease taxes explain your responses by describing what the government hopes to achieve with their fiscal action

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Answers (1)

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Kaliyah Atkins · Answer 1

The U. S. Government is most likely to raise taxes on personal income, and is most likely to decrease taxes on corporate income.

Explanation:

This is a trend not only in the U. S., but in most developed countries. It has been argued by economists that personal income taxes are more effective at raising revenue than corporate income taxes.

Besides, high corporate income taxes can affect consumers and employees by making goods more expensive, and making hiring more expensive too, raising unemployment.