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Category > Economics Posted 17 Sep 2019 My Price 5.00

ECO 100 Week 8 Discussion Exploring Tax Cuts, Jobs, and Tax Revenue

"Exploring Tax Cuts, Jobs, and Tax Revenue"

There has been 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:

·         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 answer.

·         Continue the conversation with your classmates:

Reply to a classmate and share your thoughts about his or her opinion.

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SmartExpert
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Status NEW Posted 17 Sep 2019 04:09 AM My Price 5.00

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file 1568693311-ECO 100 Week 8 Discussion Exploring Tax Cuts Jobs and Tax Revenue.docx preview (436 words )
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